The Financial Systems and the Ethics of Restructuring

Abstract

I am neither an economist nor a philosopher, nor yet a specialist in business ethics. I read Law at university, and I am a banker by profession. From this privileged position in the trenches, I have had plenty of opportunity to learn at first-hand about the workings of the economy. And about people. This experience has allowed me, among other matters, to observe the behaviour of bankers, bank employees, supervisors and auditors in the complex, interdependent world of finance.

Lack of transparency constitutes a breakdown of good governance especially when it is tolerated by the supervisor.

Where flagrant, it could also be considered a fraudulent practice.

A. de Juan

Lecture given at a seminar held at Fundación ETNOR in Valencia on 26 October 2011, with Adela Cortina, Professor of Ethics, sharing the floor and acting as moderator.