Jump to ContentJump to Main Navigation
The Bank Culture DebateEthics, Values, and Financialization in Anglo-America$
Users without a subscription are not able to see the full content.

Huw Macartney

Print publication date: 2019

Print ISBN-13: 9780198843764

Published to Oxford Scholarship Online: October 2019

DOI: 10.1093/oso/9780198843764.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 17 September 2021

US Responses and the Second Phase

US Responses and the Second Phase

(p.92) 5 US Responses and the Second Phase
The Bank Culture Debate

Huw Macartney

Oxford University Press

This chapter argues that after the initial responses to the financial crisis the culture of banking debate came to the fore from 2012 onwards. Following government spending cuts and political protests the repeated banking scandals that emerged constituted a second wave. US state managers moved beyond improving market discipline to ethical reform and new institutions. But the chapter argues that the unfolding legitimacy crisis was perhaps the main reason for the political focus on bank culture, and fundamentally shaped the populist tactics used by US state managers. The chapter also shows the glaring absence of a debate on the structural causes of banking culture.

Keywords:   populism, legitimacy crisis, Department of Financial Services, New York Fed, regulation

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .