Our Financial System is only as Strong as Our Confidence, says Terry Smith, CEO of Federal Home Loan Bank of Dallas
“Tell It Like It Is: The Ethics of Financial Transparency” is the first panel session today at the Ethics, Trust & Transparency conference and features Terry Smith, President and CEO, Federal Home Loan Bank of Dallas, with Allan Sloan, Senior Editor-at-Large, Fortune.
“I believe the most important lesson the recent financial crisis taught us is that our financial system is only as strong as the confidence it instills in those that rely upon it.” says Terry Smith. “Market participants lost faith in the accuracy of the information they were receiving from both the private sector and government. The level of uncertainty created by the resultant distrust of any clear, transparent information related to the condition of major corporations and potential government responses led to the near-collapse of global capital markets.
“For America to continue to be the home of the most dynamic and resilient financial system in the world,” Smith adds, “we must restore basic market confidence in the information that market participants require to make decisions. And that can only be done if financial transparency is a driving force behind the activities of corporations, investors, market makers and every other market participant.”
The Cary M. Maguire Center for Ethics and Public Responsibility hosts the Ethics, Trust & Transparency conference today, November 2, 2011 in the Jim Collins Conference Center on Southern Methodist University’s Dallas campus.