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International Law
: Australian Regulatory Compliance ReviewThe role of rumour and the media in public confidence in financial institutions
I'm in Darwin for the Australian Mutuals conference until Thursday so posts will be "light" but this article was mentioned by CommSec economist Craig James yesterday and is worth reading: Bringing Down Bear Stearns.
It raises the question whether investigative journalists seeking to make a reputation for themselves have published unsubstantiated (even vicious) rumours which could generate a "run" on financial institutions. And how should financial institutions subjected to rumours respond?
APRA Chair John Laker's speech.
Full post as published by Australian Regulatory Compliance Review on October 20, 2008 (boomark / email).
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