How to revolutionise a modern day bank

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The Financial Crisis is one of the main topics at the moment and some of us at Faringdon Community College think it's the bank's fault so we created some rules for bank for modern day banks to follow so the financial crisis doesn't happen again:

Rule One- Safe Lending

Banks need to make sure that they loan a safe amount of money which they are positive that their customers can pay back.They also need to make sure that the banks can pay back customers because sometimes they couldn't but took the risk. This would really help because this was one of the main causes of the Financial Crisis of 2008.

Rule Two-Permission For Spending

Banks need to have tighter rules for spending money, they should have to ask to use your money to pay for others. The public should be able to choose how banks spend their money and be able to access more infomation about it.

Rule Three-Less Bribery

One of the main problems which caused The Financial Crisis was bribery- the banker's bosses would give their employees rewards if they took risks and it worked out in their favour. This motivated the bankers to take more risks with peoples money, but sadly for them sometimes it didn't work out, bribery shouldn't be allowed as much.

Comments (1)

  • Tiff-Avatar.jpg Tiff @ the BNC
    4 days ago

    We're excited to see some suggestions for bank rules on the Hub! I'm particularly interested in your second rule.

    1) Bribery is an interesting way to consider the concept of how bonuses works. Actual bribery is illegal in banks, can you find out more about this.

    2) What might be some of the risk of bringing in these rules for the economy?

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