Ruli Pennington - Talking Local Government podcast producer @CLGdotPOD executive producer @CLGdotTV. Passionate about better public services, devolution, chess, malt whisky, women's football.@UnruliP
We interviewed economist John Kay and former FCA chair Adair Turner in 2014. Both warned that the fundamental causes of the 2008 financial collapse had not been addressed
In a round of interviews to promote his book Money And Government: A Challenge To Mainstream Economics Skidelsky, professor of political economy at Warwick University, says that not enough has been done to reign in banks and the City of London since the financial crash of 2008. The current state of the economy, he says, can be compared with what was going on ahead of the collapse of Lehman Brothers, which set off the whole crisis.
In 2014 we interviewed John Kay currently visiting Professor of Economics at the London School of Economics and fellow of St John's College, Oxford. At the same time we interviewed Adair Turner one time Chairman of the Finacial Services Authority and a former Director-General of the CBI and author of "Between Debt and the Devil: Money, Credit, and Fixing Global Finance" (Princeton, October 2015) which examines the realities behind the financial crisis, and suggests how to prevent it happening again.
When we spoke to them, hot off the speaker platform at European Conference on Banking and the Economy (ECOBATE), both warned in separate interviews that following the 2008 crises, problems with the structure and approach of the UK financial sector that had caused the collapse had never really been addressed. John Kay went as far as to say that 'in the end it may take another big financial crisis to get things moving in the direction of change that's needed.'
Watch the John Kay interview above and watch Adair Turner here NB. Both are speaking in plain English.