The Ethics of Banking Conclusions from the Financial Crisis

This book analyzes the systemic and the ethical mistakes that have led to the financial crisis of 2008. It explores the middle ground between the argument that financial managers cannot be expected to take responsibility for a systemic crisis and the argument that moral failure is the one and only o...

Full description

Bibliographic Details
Main Author: Koslowski, Peter
Format: eBook
Language:English
Published: Dordrecht Springer Netherlands 2011, 2011
Edition:1st ed. 2011
Series:Issues in Business Ethics
Subjects:
Online Access:
Collection: Springer eBooks 2005- - Collection details see MPG.ReNa
LEADER 03301nmm a2200301 u 4500
001 EB000400748
003 EBX01000000000000000253801
005 00000000000000.0
007 cr|||||||||||||||||||||
008 130626 ||| eng
020 |a 9789400706569 
100 1 |a Koslowski, Peter 
245 0 0 |a The Ethics of Banking  |h Elektronische Ressource  |b Conclusions from the Financial Crisis  |c by Peter Koslowski 
250 |a 1st ed. 2011 
260 |a Dordrecht  |b Springer Netherlands  |c 2011, 2011 
300 |a XV, 214 p  |b online resource 
505 0 |a Preface -- Introduction: Is the Finance Industry Ethically Irrelevant? -- Part A Foundations of Business and Finance Ethics -- Chapter 1 Ethical Economy, Economic Ethics, Business Ethics -- Part B The Ethical Economy and Finance Ethics of the Markets for Credit, Capital, Corporate Control, and Derivatives -- Chapter 2 The Ethical Economy of the Credit Market -- Chapter 3 The Ethical Economy of the Capital Market -- Chapter 4 Insider Knowledge and Insider Trading as Central Problems of Finance Ethics -- Chapter 5 The Ethical Economy of the Market for Corporate Control and for Corporate Know-How -- Chapter 6 The Ethical Economy of the Market for Derivatives: Trading with Values Derived from Other Values for Hedging, Speculation, and Arbitrage -- Chapter 7 Interdependences Between the Financial Markets for Credit, Capital, and Derivatives, and the Challenges the Financial Markets Pose for Ethics -- Chapter 8 The ‘Banking Secret’ and the Right to Privacy The Banks’ Duty of Confidentiality and Banking Secrecy -- Part C Financial Wagers, Hyper-Speculation, Financial Overstretch The Financial Market Crisis of 2008 and Finance Ethics -- Chapter 9 Financial Wagers, Hyper-Speculation, and Shareholder Primacy -- Chapter 10 Financial Overstretch TheEpochal Disturbance of the Invisible Hand of the Market by the Financial Industry -- References 
653 |a Ethics 
653 |a Finance 
653 |a Financial Economics 
653 |a Moral Philosophy and Applied Ethics 
041 0 7 |a eng  |2 ISO 639-2 
989 |b Springer  |a Springer eBooks 2005- 
490 0 |a Issues in Business Ethics 
028 5 0 |a 10.1007/978-94-007-0656-9 
856 4 0 |u https://doi.org/10.1007/978-94-007-0656-9?nosfx=y  |x Verlag  |3 Volltext 
082 0 |a 332 
520 |a This book analyzes the systemic and the ethical mistakes that have led to the financial crisis of 2008. It explores the middle ground between the argument that financial managers cannot be expected to take responsibility for a systemic crisis and the argument that moral failure is the one and only origin of the crisis. The book investigates the role of speculation in the formation of the crisis. It distinguishes between productive speculation for hedging and for securing market liquidity on the one hand, and unproductive and even detrimental hyper-speculation, on the other. The book argues that hyper-speculation goes far beyond the degree of speculation that is necessary for the liquidity of financial markets in a developed economy, and has thus increased the risks of the financial system and will continue to do so. This book offers an ethics of banking and an ethical economy of the financial markets to counterbalance the financial industry’s purely economic approach