Bankers’ guilty conscience

The Vatican recently published a document on the economic-financial system. The Church notes “the irreplaceable social function of credit” and that “most of [the financial industry’s] operators are singularly animated by good and right intentions”. However, the text mainly condemns all kinds of “immoral behavior”, ranging from credit default swaps to offshore banks.

Many bankers feel somewhat guilty about their job. Although they personally don’t do anything illicit, they have a nagging feeling that the financial industry doesn’t benefit society.Although I would never say that bankers are doing God’s work, I do believe that criticisms of banking and finance are overblown. Readers of my book ‘Bankers are people, too’ know that bankers are… erm… people too. Banks are not singularly evil.

Organizations that claim to stand up for the common good like to guilt trip bankers in order to get donations. But people working for these supposedly more ‘moral’ non-profits are not beyond reproach.

So if you’re a banker: cheer up! There’s no need to feel guilty for something that’s not your fault.