Are “Cultural” explanations for systemic failure sufficient?

Originally posted in the CLMR portal by Elaine Byrne (11 April, 2013) The Salz Review into Barclays shares similar findings to the Honohan and the Regling and Watson Banking Inquiries. Salz attributed the extraordinary failings at Barclays to “corporate corruption” while the Irish approach has been to focus on “group think”. “Princes and governments are far…