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Jeremy Balkin: 'When Banking Went Down, So Did Trust In Society'

01/24/2014 08:00 am ET

During a Friday interview with HuffPost Live at Davos, Jeremy Balkin, a financier and philanthropist currently writing a book called "The Noble Cause," said he's okay with his generation being skeptical.

"[People] should be skeptical. We live in a world where there is absolute distrust of institutions... as there should be," Balkin said.

Balkin, founder of Give While You Live and Karma Capital, cited the financial crisis as a reason skepticism is a good thing.

"Banking is a metaphor for trust, and when banking went down, so did trust in society."

Balkin said people in his generation don't have good role models to look up to.

"That's one of the problems. Our generation -- who do we look up to?" Balkin asked. "I think what the world actually needs is new leaders, it needs our generation to inspire our peers."

Balkin cited the Pope Francis and 2006 Nobel Peace Prize Winner Muhammad Yunus as two great role models today. He lamented that the media provides role models like "The Wolf of Wall Street" and Bernie Madoff to young people working in finance.

"We haven't really had a debate about the values questions," Balkin said.

Balkin said those in finance are told it's about "the what" -- the profit, which he did say is important. But he said it's also important to look at the how and the why -- the impact.

Watch Balkin's interview above, and see more from Davos below:

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