The Moral Responsibilities of Investment Bankers
Richard W. Painter
University of Minnesota Law School
September 29, 2011
University of St. Thomas Law Journal, Vol. 8, No. 1, 2010
Minnesota Legal Studies Research Paper No. 11-41
This paper, presented as the annual law review lecture at the University of St. Thomas Law School, explores the moral obligations of investment bankers in light of the 2008 financial crisis. Topics such as disclosure to investors, the safety and soundness of investment banks, excessive risk taking, responsible use of derivative instruments, and banks’ responsibility to the community and to the financial system as a whole are discussed as issues of personal responsibility for investment bankers rather than only as subject matter for regulation directed at banking institutions. The particular perspective discussed in depth is grounded in Christian social teaching but the paper also offers insights on how the moral responsibility of investment bankers can and should be approached from a range of religious and secular philosophical perspectives.
Number of Pages in PDF File: 25
Keywords: banking, ethics, finance, religion, values
Date posted: September 30, 2011 ; Last revised: October 13, 2011
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