In their important new book, “The Bankers’ New Clothes,” Anat Admati and Martin Hellwig challenge a cherished belief of people who run big banks: Equity is “expensive” and requiring banks to fund themselves with more equity (relative to their debts) will somehow slow the economy.
Jamie Dimon was right. Speaking at a televised session during the World Economic Forum in Davos last year, the JPMorgan Chase & Co. chief executive officer predicted that the condemnation of bankers was far from over.
Arthur Levitt, former chairman of the U.S. Securities and Exchange Commission, interviews Anat Admati, a professor at Stanford University and coauthor of "The Bankers' New Clothes: What's Wrong With Banking and What to Do About it." They spoke on Bloomberg Radio's "A Closer Look With Arthur Levitt."
Breezing into a sunlit conference room near London’s Hyde Park Corner wearing an open-collared white shirt that frames his square jaw, Loic Fery exudes the confidence of a soccer club owner who’s enjoyed success on the pitch and with the team’s account ledgers.