Sunday, February 6, 2011

The Un-Avoidable Crisis of 2015

Barrie Wilkinson, partner at Oliver Wyman has written a scenario describing a future economical crisis, as a result by high risk bank activity;

"John Banks was woken by his phone at 3am on Sunday, April 26, 2015. John worked for Garland Brothers, a formerly British bank that had relocated its headquarters to Singapore in late 2011 as a result of what Garland’s CEO had described as “irreconcilable differences” between the bank and the UK regulators. The last three years had been the most exciting of John’s life. Having led the bank’s aggressive expansion into emerging markets wholesale activities, he had recently been promoted to its executive committee.
John picked up the phone. It was the bank’s legal counsel, Peter Thompson, calling. He had dramatic news. Garland Brothers, one of the world’s oldest banks, would declare bankruptcy tomorrow. As he lay there in his spacious air-conditioned bedroom, unable to return to sleep, John tried to reconstruct the events of the last four years..."

Download the report by clicking here.o