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To say to them, no, no, we will give you the status of the king of wall street or the bsd, right, the whole culture but you actually have to do the job. right. you can t be a marine in the marine corps unless you are actually a marine in the marine corps. you can t freepd you are a marine in the marine corps. right. that s a good analogy. the trajectory of wamu is such that it was incredible how they transitioned from a bank and the in the span of 15 years, you would go into a branch, speak to someone, to this gee began particular clearing-house that was just sucking in mortgages and spitting them out. the customer was somewhere over there like trying to get someone on the phone and, you know, it was just a complete transition. again, congrats. again, special book of not just because of the tale but because it is rare you get a trueeentimacies here that are here from somebody with kristin s kirsten s ....
Ceo, john taft, how he thinks jamie dimon did and talk about the kind of leadership truly needed in the financial sector to restore a culture of opportunity seeking and obliterate the culture of extraction and risk accumulation. plus tomorrow the president is set to make a big economic speech. will he include any big ideas? mega-panel placing their bets and later learning from our past to create a better future. our cloud is not soft and fluffy. our cloud is made of bedrock. you. te our cloud is the smartest brains combating the latest security threats. it spans oceans, stretches continents. and is scalable as far as the mind can see. our cloud is the cloud other clouds look up to. ....
Guilty on the only count on which it was able to reach a verdict. the justice department has put out a statement today saying that while it is it is his duty to bring challenging cases and believe the prosecutora fine job in this case, that these dis dismissing these charges at this point is in the interest of justice. so that mean john edwards will not be retried on these five counts. and that his legal problems are over. this is not exactly a shock. when the jury was polled, the government had failed to get more than four guilty votes on any of the counts so it had been anticipated that the prosecutor was not retry the case. but this with this judge, with this order, judge eagle made it official today. all right. thank you so much. next up here, as americans struggle on main street, we ask has the culture that established ....
As $7 billion. of course, no wonder our specialist says investor confidence is shot when one of the best ceos and best and biggest banks is able to take a banana pie to the face like this. so how do you get a legitimate history in the culture such that you have a little less wild reckless or wild risk taking and a little bit more aggressive opportunity seeking which really was what wall street was intended to do? joining us now is john taft himself, ceo. part of the royal bank of canada. also author of stewardship. what s the lost culture? it is a culture where serving the needs of clients and furthering economic growth is the principle purpose of the financial institution. sit a prerequisite you must be using your own money? if i m using other people s money, it is simply very hard to do what you are describing and i can make money, lot of ....
Okay. you can look across the border to canada where there are only six banks, too big to fail is part of the canadian banking culture. yet, no bank failed, no bank even cut their dividend during the financial crisis and the regulators fear why? because they were properly regulated. regulators relied on principles rather than rules. here we just keep layering on new rules. what s the principle requirement? it is run the bank responsibly for the benefit of your constituents. that s the fundamental principle. like the hippocratic oath for a bank ceo. it is. yesterday i was here in new york at a roundtable of financial services industry leaders chaired by the cfa institute which is a gold standard in investor protection. now that was exactly the message we need to get back to some kind of principled oath literally, didn t use that word professionals in our industry sign up for before going in and ....