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What does CS stand for? ⎮ Artikel

In times of societal crisis and disruption, ethics asks us to stop, think, identify Guideposts and engage in dialogue. Some thoughts for discussion on the end of CS.

When I stopped to think about CS and banking this morning, I thought, “CS could stand for «Consequences Strike»;” when we act negative consequences can hit us, like lightning. In contrast, the concept of moral Hazards, Bonuses and weak or weakly enforced banking regulations, laws or too many complicated laws reflect a culture of no-consequences. In this culture people act in ways they normally would not, if they followed the values they learned as kids. But, negative consequences can occur. Indeed consequences struck CS, which does not exist anymore.

Of course, it is easily said, that the end of CS is the result of ignored consequences. But perhaps more to the point we need to say it and discuss related questions more often. Perhaps we need to talk more about the ultimate goal of a bank, business and economy. Is the goal, that people serve institutions or are institutions also responsible to contribute to the common good, people and planet?

A banker from central Switzerland once explained, “We all know at some point it’s going to explode. It is not a question of if but when. I am prepared though, I put enough money aside to be safe when it happens.” By saying “it’s going to explode” this banker clearly points to CS, Consequences Strike. Other questions we need to keep discussing are: "When can and do we choose to care about the consequences?" and "How do we consciously apply those values we learned as kids to the work we do and the way we gestalt the systems and structures of banking, the economy and democratic society?"

More thoughts and discussion with others on the implications of CS and banking:

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