Individual bankers, or their bosses?

Bankers bosses...

Or individual bankers...

Especially after the most current BNC session, I have considered who would be to blame between these two.

The bankers bosses...

Or individual bankers.

You may think someone totally different and I would like to know who and why, but right now, who do you think was more responsible for the financial crisis in 2008. Ten years ago. What can we learn and consider about this issue?

The bankers bosses are to blame.

It is THEIR responsibility, to make sure THEIR employees behave in the way THEY have set the rules. It's not fair to blame the bankers as their bosses should've

One: been supervising them.

Two: making things clear who to lend money to and when.

If the bankers bosses (lets call them BBs for now) had done those two things then the financial crisis would've been avoided, or at least hindered. It is only fair to say that the BBs started all this. I partly got this idea from 'the blame game' which often started with the person I felt was being blamed. See my example bellow...

The government wasn't setting rules strict enough which ment that BBs and IDs (individual bankers) could have more freedom and use it unwisely.

In my opinion, because of the conjunction which ment and the fact that all this starts with the goverment, it's the government being blamed. Now change this and out it into other words. If something's starts with the BBs and then that makes the IDs do something, then in the same way, I think it sounds like it's the BB's fault.

No it's the IDs fault.

Although the BBs should have been checking them, everyone has SOME common sense. The IDs could of easily decided whether someone with no job, a bad and untrustworthy background, and not sure whether they could pay it back or not was a good idea. I don't even need to show open-mindedness with the fact that this is NOT a good idea. That's obvious. So why would you even consider giving it to them. ID'S are adults - they don't need to be watched all th time but what the ID's have shown is that they need constant supervision. I don't know much about banking but I think that even I wouldn't have given the wrong people the wrong amount of money. It's not fair to blame the BBs as they shouldn't have to be constantly supervising the IDs

My opinion and reason(s)

I think that between these two, the people with the most guilt is the IDs. I think this because no one just gives money out, do they? They must have had some sense (even if there weren't rules) that giving money to lots of people isn't a great idea. Try this.

You are a random person on the street. You see someone you don't like that you know. You THINK they drop something, but you don't do anything.

Personally, I think that some of you wants to give it back and another part doesn't. Of course we don't actually not like the person so it's hard to relate to them. Still, it's the closest and most accurate we can get.

These are my reasons and opinion. What do you think?

Comments (20)

  • Olivia-Avatar.jpg Olivia @ the BNC
    16 Nov 2018

    This is a great post which shows excellent reasoning. You've clearly communicated the different reasons for who should be blamed and come to a conclusion based on this. Well done!

    I think your final metaphor about the person you don't like could be a very clever way to explain your point but, at the moment, it's a bit confusing. Can you have another go at explaining it?

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  • Olivia-Avatar.jpg Olivia @ the BNC
    16 Nov 2018

    I've also found out something which is quite similar to what you suggest. The Financial Conduct Authority (FCA - they check up on how financial institutes are operating) introduced a Senior Managers Certification Regime for BBs in 2016 to increase their accountability. This means that BBs would be more responsible for their actions if something goes wrong. It’s being extended to other firms over the next couple of years. Find out more here: https://www.ft.com/content/7cf42096-05bb-11e8-9e12-af73e8db3c71

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    1. Boutcher-logo-250x250.jpg impartial_panda_bear | Boutcher C of E Primary School
      Olivia @ the BNC's comment 16 Nov 2018

      Hi Olivia - I've done all you've asked me to. Here are my ideas...
      • Another way of thinking about what I was basing my metaphor about is this.
      You're in a maths quiz. You are asked a question you learnt how to work around about a year ago. You have a distant memory, don't you? It might be that you just can't get there or your mind goes blank.
      I think the IDs must have felt like that. You have a distant feeling but you don't or can't listen to it. Here's another example.
      You've forgotten something and your walking on your way to school. Your trying to remember what it is and whether it's important or not. You THINK it is and SORT OF know it is. But you don't want to. Why should you worry about it when (like the bribe or extra money) you can talk to your friend?

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      1. Olivia-Avatar.jpg Olivia @ the BNC
        impartial_panda_bear's comment 19 Nov 2018

        Fantastic, well done impartial panda bear!

        Reply to this comment
  • Boutcher-logo-250x250.jpg impartial_panda_bear | Boutcher C of E Primary School
    16 Nov 2018

    The website was really helpful. The only doubts I had were (although it was my own opinion) the way it's set out is like a news story or something that speeds rumours. Some parts I slightly doubted weren't actual facts. I'm not saying your wrong and I agree with lots of what it's saying, but am I right to be cautious?

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    1. Olivia-Avatar.jpg Olivia @ the BNC
      impartial_panda_bear's comment 19 Nov 2018

      You're always right to be cautious. Can anyone else suggest ways to check information if we're unsure about what we're reading?

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      1. Streatham-Wells-logo-250x250.jpg good_hedgehog | Streatham Wells Primary School A
        Olivia @ the BNC's comment 27 Nov 2018

        We can compare the information on different websites and see which one is more reliable .
        to do this we have to look at different websites and see which has got the same peice of information and then that bit is correct .
        or we could swap it only one has the most trustworthy information

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  • Boutcher-logo-250x250.jpg impartial_panda_bear | Boutcher C of E Primary School
    19 Nov 2018

    I guess that you can check on other websites and if they have got it on theirs then you can trust it.

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    1. Boutcher-logo-250x250.jpg content_lemon | Boutcher C of E Primary School
      impartial_panda_bear's comment 19 Nov 2018

      I agree with @impartial_panda_bear, if you check other sources, and they have the same facts, you know it's true. If not, it isn't a fact, and it's not a trusted source; you don't want to read untrue facts, do you?

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      1. Boutcher-logo-250x250.jpg impartial_panda_bear | Boutcher C of E Primary School
        content_lemon's comment 20 Nov 2018

        Yeah though if you don't find it on other websites there may be a small chance that it could be true. That web might have inside information and may be a better source then others. Glad you agree with me though...

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        1. Boutcher-logo-250x250.jpg content_lemon | Boutcher C of E Primary School
          impartial_panda_bear's comment 20 Nov 2018

          Yes! But, as you said, only a small chance... It might say INSIDE INFO which would make it clearer that it is, in fact, true...

          Reply to this comment
          1. Boutcher-logo-250x250.jpg impartial_panda_bear | Boutcher C of E Primary School
            content_lemon's comment 20 Nov 2018

            Yeah! It would make it a lot easier if it said
            "This site has been checked by BNC and it is all true!"
            How would you make sure they weren't lying...
            And then other webs might copy it...
            And then they might change it...
            And then it isn't inside information anymore.
            All this is very unlikely but you have to be careful with EVERYTHING!!!

            Reply to this comment
  • Millbank-logo-250x250.jpg stellar_cricket | Millbank Academy A
    22 Nov 2018

    I think this is a great post and I think it’s the bankers bosses and the bankers do the dirty work

    Reply to this comment
  • Millbank-logo-250x250.jpg easygoing_saxophone | Millbank Academy A
    22 Nov 2018

    I agree because it's the bankers responsibility to do the work, and so if the boss says to do something bad/illegal, the bankers shouldn't be the culprit.

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  • Millbank-logo-250x250.jpg supportive_guineapig | Millbank Academy A
    23 Nov 2018

    I think it's the bankers fault because:
    .Bankers are the ones giving out money
    .The bosses cant always wtch every banker
    But its also the bosses fault becuase:
    .they in a crisis should pay a bit more attention.
    It's his employes.
    So I think it's the bankers fault for giving out bad loans themselves.






    ;

    Reply to this comment
  • Arnhem-Wharf-logo-250x250.jpg stellar_lion | Arnhem Wharf Primary School
    27 Nov 2018

    I think that the bankers' bosses are to blame because they gave the individual bankers extra money for taking risks and earning money when they gave money to the people who sometimes can't pay them back.

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  • The-Ruth-Gorse-logo-250x250.jpg balanced_singer | The Ruth Gorse Academy
    27 Nov 2018

    I believe that it's the individual bankers's fault, because when you think about it, it can't really be the bosses fault at all. Think about it like this, your head teacher(who resembles the boss) is in charge of the school. And your teachers( who resemble individual bankers) plan you're lessons. Your head teacher has got nothing to do with you're teacher planning a lesson for you! This is like a banker discussing with a person on why to give them a loan. The boss wouldn't make that decision.

    (I got this information from my latest BNC session too)

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    1. Olivia-Avatar.jpg Olivia @ the BNC
      balanced_singer's comment 28 Nov 2018

      Interesting point, but what if the teacher started teaching you something that wasn't on the curriculum, and they did this for the whole year. The teacher is obviously responsible for this, but do you think the head teacher has some degree of responsibility to make sure their staff are sticking to the rules? (in the same way, the banker's bosses should have this oversight too)

      Reply to this comment
  • Streatham-Wells-logo-250x250.jpg good_hedgehog | Streatham Wells Primary School A
    27 Nov 2018

    @impartial_panda_bear i think it was the bankers fault because they were the ones giving out bad loans so the more loans they give the more money they get paid . There just being greedy because when You give out a loan the person you gave the loan to has to pay interest so the bank an get some profit.

    In my opinion i think it is the bankers

    :)

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    1. Boutcher-logo-250x250.jpg impartial_panda_bear | Boutcher C of E Primary School
      good_hedgehog's comment 28 Nov 2018

      Hi good_hedgehog... I kind of agree with you, especially on the bankers being greedy - they had no right to give away money unwisely for their own benefit. But as much as I agree with you, I also think that you can't blame them completely. If their bosses ( in other posts I've done I've called them BBs) hadn't bribed them with more money, then they wouldn't have started giving away vast amounts of money without considering the effect it would have. I mean, no one suddenly decides that if they do something they will get rewards in that particular way. That is, if they have common sense!

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