The 14th Banker

As described in 13 Bankers by Simon Johnson and James Kwak, on March 27, 2009 13 bank CEOs were gathered in a room with President Obama to discuss deepening recession, the public’s outrage at excessive compensation schemes, and the need for reform in the Financial Services Industry. The refrain from these CEOs and White House Press Secretary Robert Gibbs was, “we are all in this together.” The Fourteenth Banker was not in that room and like over a million other bankers, is not “in it together” with these CEOs.

A senior career banker with a large TARP recipient bank, “14” decided the silenced voices within the industry need to be heard. In March, 2010 he started the blog thefourteenthbanker.wordpress.com and has argued in favor of regulatory reform even while large banks lobby to water it down. He believes regulatory reform is only the beginning, a first step to buy time for the reestablishment of a healthy, responsible, accountable, constructive, smaller and simpler financial sector.

“14” blogs anonymously because of blanket gag orders large banks put on their employees which exceed requirements for protecting privacy, customer confidentiality, safety and soundness or proprietary trade information. He stands in solidarity with consumers and businesses, which may be treated unfairly and bank employees who are subjected to systems which conflict with their basic human and ethical values.