The Intellectual Origins of the Global Financial Crisis

6. An Interview with Vincent Mai

Vincent Mai, Chairman of AEA Investors, argues that there has been transformation in the values on Wall Street in the last generation, one that has eroded the moral responsibility of bankers to serve their customers. Whereas business previously depended upon a strong reputation, today business success has been divorced from reputation. Mai points to the rise of public investment banks and the dominance of trading on Wall Street as the forces driving this erosion of values.