News

Simon Johnson Names His Pick For “Most Dangerous Banker In The World”

And the award goes to…

Josef Ackermann, come on down!

Simon Johnson, former chief economist of the International Monetary Fund, described Ackermann as “one of the most dangerous bankers in the world.” Johnson singled out Ackermann’s famous target of a 25 percent pretax return on equity for particular criticism. He said such returns were only possible because Ackermann knows that Deutsche Bank is too big to fail and that it would be “rescued by taxpayers” if it was faced with bankruptcy…In Johnson’s view, there is the danger of a new crisis occurring if the capital rules for banks are not made significantly tighter. He told the newspaper that the new Basel III rules — which will require banks to hold top-quality capital equal to at least 4.5 percent of assets by 2015, rising to 7 percent by 2019 — are “absolutely useless.” Instead, he argues, bank capital reserves have to be equal to between 20 and 45 percent of total assets. Deutsche Bank currently has a capital ratio of just 4 percent, he said.

[Spiegel]

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20 Responses to “Simon Johnson Names His Pick For “Most Dangerous Banker In The World””

  1. Spanishmoon says:

    So exactly where does that leave Ben Bernanke………?

  2. Guest says:

    My money was on Ken Lewis who like to get drunk and buy shit.

    • Ken Lewis says:

      shut your mouth and get me a drink.

    • Anonymous says:

      You may criticize him now, validly, for being a fucktard, but I’d take a few hundos (millions that is) to sit on my ass, throw a few back and blow company cash. Life ain’t so bad for ole’ Kenny. Just sayin’

  3. Chompers says:

    Regis Philbin

  4. Anonymous says:

    dangerous(ly dreamy) bankers? J Dimon had a great pic in the FT today.

  5. Charles Gasparino says:

    I know a banker.

  6. John Mack says:

    Jimmy to the G

  7. derp says:

    Simon “Iceman” Johnson: You’re everyone’s problem. That’s because every time you make a deal, you’re unsafe. I don’t like you because you’re dangerous.

    Josef “Maverick” Ackermann : That’s right Ice…Man. I am dangerous.

  8. Patriarch Intern says:

    I thought Tilton and her leather punching bags would have won

  9. Lord Humongous says:

    I knew he would pick Ackermann

    – Gartman

  10. Guest says:

    Bess, Simon Johnson, any relation?

  11. Eager Beaver says:

    Simon Johnson is a fucking idiot who got kicked out of the IMF when the shit was about to hit the fan for a reason. Hearing a media whore like him be called “Professor of Entrepreneurship” makes me embarrassed to have gone to MIT – the guy probably never started a fucking lemonade stand in his life.

    • Lumpy Fingered Beaver says:

      I feel the same way about my college experience. It was meaningless to read about the Ukrainian famine of the 30’s without having an actual starving person in the room.

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