Dutch Bankers take a religious oath…

Well, well, well..What does one say to this news HT: MR Blog).

Dutch bankers are now taking an oath vowing not to engage in unethtical fin practices:

The sinners of the banking industry seem so uncowed by regulators and prosecutors that one country is trying a higher deterrent: the fear of God.

In the financial industry equivalent of the Ice Bucket Challenge, executives in the Netherlands have been taking the bankers’ oath.

“I swear that I will endeavor to maintain and promote confidence in the financial sector,” the oath reads in part. “So help me God.”

So far, the Dutch banking industry has required the oath only for top executives. But starting next year, all 90,000 of the country’s bankers will be required to swear it. If they break the pledge — which consists of eight integrity vows, including putting clients’ interests first and taking care of shareholders — they can face fines or suspensions, or be blacklisted.

Whether it will have any effect, only God knows. But the Dutch say that six years after the global financial crisis, a steady stream of subsequent scandals has done little to instill public confidence that sin has been exorcised from the banking industry — in their country or elsewhere

The industry which thought itself as God has to bow to the actual God for redemption of sorts..


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