Exact(6)
The industry still prizes short-term profit over long-term prudence, today's bonus over tomorrow's relationship.
Fans are often bored by boards talking about long-term prudence when better players are needed.
In a recent report titled "A Matter of Trust," he said that meeting the firm's financial targets "can encourage short-term excesses over long-term prudence" and he criticized the bank for what he calls aggressive accounting tactics.
Banks in Europe and the United States have been under regulatory pressure to set up bonus programs that reward long-term prudence rather than risk-taking and short-term payoffs.
A series of future Nobel prize winners, from Friedrich Hayek to Milton Friedman, channelled the ancient critics of democracy by arguing that putting the voters in charge meant short-term impulses would prevail over long-term prudence.
"The industry still prizes short-term profit over long-term prudence," Ms Lagarde said at a conference on the future of capitalism.
Similar(53)
The sector still prizes short term profit over long term prudence May 27 , 20149.49am BST And in case anyone wants to ignore Christine Lagarde's stern words, she concludes that reducing the world's "financial footprint" is even harder than reducing "our carbon footprint".
It is possible, therefore, that banks and to a lesser extent hedge funds attract traders with an appetite for large amounts of risk rather than long term prudence.
Far from putting the US on a course of long-term fiscal prudence, it put the country on a log raft with no paddle, careening straight towards a deathly waterfall.
A cut in capital-gains tax delivers the larger part of its benefits not to investors in new assets but to owners of assets that already exist: in itself, this windfall does little to promote growth.An agreement for accountantsIf this budget agreement scores badly on long-term fiscal prudence and incentives to growth, it fails miserably on other basic tests of good fiscal policy.
Fiscal prudence and tackling Britain's long-term productivity shortfall were key themes of the Treasury's work during Brown's tenure as chancellor.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com