Real Time, CEO, Atlantic discussed on Bloomberg Best


June grauso still to come we'll bring you more from davos with barclays ceo jess daily plus oversight yo dara class were shot he explains how he's rehabilitating the company's corporate image barclays chief executive jess daly is warning investors and business leaders that the mood at this year's world economic forum in davos is too similar to two thousand six when everyone thought there would never be another financial crisis he spoke about how to prevent the next financial meltdown with bloomberg's tom keene along with citigroup ceo michael corvette and harvard professor ken rogoff willy lift the last financial crisis in the damage that was done globally and i do think one thing that is different this time that we need to utilize um i think the the connective tiffany and the collaboration between regulators in academics and and and publicly firm and investment firms and banks is at a whole nother level them than it was precrisis you'll back to two thousand five thousand six a bank would meet with the fed may be once every quarter uh uh today we have the bank of england has been the pera fca there in the bank every day this matter to leave a more focused on a call on similar argument i think in both sides of the atlantic the degree of integration or or or work between the regulators and the banking community not only to fix what happened last time but now i think as most of the corrections through bank regulations have occurred it really is we need to work collaboratively with our regulators to witness crisis he'll on one level pre two thousand eight and an an and zaza nine look the regulators were there just bear witness in it's something went on day would use their ability to bring the big bank in northern ordinance something in order to shut up uh course correct the economy uh real time today the deep political body have told the regulators i want you to regulate the systems distressed after what not so you avoid the next finance surprises no might some almost year clear viist we've never avoided the next financial crisis it's so and so i think it's incumbent upon banks and firms then and academics is to work collaboratively with regulators triglav wanted the next financial crisis because lightly so the political cost at the banks have endured because of what happened 10 10 years ago been very high so i do think we all need to sit down and forums like this than even though it's all rosy and what not and say.

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