Should Bankers Repent?
The Times (as well as a slew of other newspapers) reports that the Archbishop of Canterbury, Dr Rowan Williams is complaining that financiers have, in general, failed to feel repentance for the ‘excesses of the boom that led to financial meltdown’ (See http://www.timesonline.co.uk/tol/comment/faith/article6836496.ece ). The Archbishop does not present evidence to back up the claim that bankers have, in general, failed to feel repentance, but it seems like a plausible enough claim, so let us assume that it is correct. The Archbishop also appears to assume that bankers should repent for the financial crisis and this assumption seems open to question. To repent is to express remorse or regret and to do so sincerely. No doubt some financiers, such as the famous swindler Bernie Madoff have committed acts for which it is appropriate that they express sincere regret or remorse. Madoff also broke the law and is currently in jail. But what might ordinary law-abiding bankers have done to warrant the Archbishop’s wrath?