One of the mantras which is synonymous with the 1980s is: ‘Greed is Good.’ This came from the movie Wall Street, where the actor Michael Douglas portrays a character, Gordon Gecko. More recently the 2013 movie The Wolf of Wall Street, with Leonardo DiCaprio, played a similar role and perspective. Both Michael Douglas and Leonardo DiCaprio epitomised the mantra in this popular Hollywood movie.
Professor Michael Adams Head of School, UNE Law School
In light of the Hayne Royal Commission into Misconduct in Banking, Professor Michael Adams notes the ‘financial sector became arrogant after the Global Financial Crisis (GFC). Remuneration was driving decisions that were inappropriate – incentivising people to be greedy.’
You may be pondering: what does the Hayne Royal Commission have to do with me? Professor Adams will demonstrate how the findings in the Royal Commission are relevant to everyone who has a mortgage, superannuation, life insurance and even a simple bank account. The findings are also socially important as banks comprise of half of the 10 largest companies in Australia. So if half of Australia’s top companies are engaging in misconduct, this potentially taints the image of the country as a whole!
Professor Michael Adams will also provide analysis on how the recommendations are relevant to people in urban and rural areas. He will explain the stories behind the issue and consult his ‘crystal ball’ to help determine the practical impact the findings will have on you, your family and your community.
