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Importance of Finance Knowledge

The document discusses the importance of finance education for young adults and poses questions regarding personal experiences with studying finance. It includes an article by a former Chief Executive of Barclays Bank, which critiques the banking industry's failures and the financial crisis. Additionally, it features discussion questions related to recent bank bankruptcies and personal financial management.

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Tamy G
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41 views6 pages

Importance of Finance Knowledge

The document discusses the importance of finance education for young adults and poses questions regarding personal experiences with studying finance. It includes an article by a former Chief Executive of Barclays Bank, which critiques the banking industry's failures and the financial crisis. Additionally, it features discussion questions related to recent bank bankruptcies and personal financial management.

Uploaded by

Tamy G
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

DISCUSSING

FINANCE
JULY, 21ST
STARTING
QUESTIONS
Did you study finance when you were at
school?
Do you think it’s important to know the
basics of finance as a young adult?
How did you decide what to study at
college?
Reading (Page 68)

Day of reckoning for innumerate bankers

h of these best summarises the headline of the article? Read the article quickly and check your a

w large bonuses led to the fall of investment banks.


e end of incompetent banking as we know it
e collapse of the financial world because bankers couldn’t count

page 3
The article was written by a former Chief
Executive of Barclays Bank. Read it again and
say which of these ideas are those of the writer.
Which of the statements do you agree with?
1. As everyone knows, if a business runs out of money, it eventually goes
bankrupt.
2. Despite banks being concerned about liquidity and borrowing money, they
have no systems in place for managing their own cashflow.
3. The financial crisis arose not because consumer spending was out of control,
nor because the banks were out of control, but because the government was
spending too much money.
4. The fact that some investment bankers received more that £2m in bonuses
in the 1990s is not only unacceptable but also incomprehensible.
5. Professionals in banking and financial services deserve to be paid 50 per
cent of revenues.
6. It is shameful to think that neither shareholders nor bank directors were able
to prevent the financial crisis of 2008-09
page 4
Match these definitions to the words and
expressions in bold in the article

folly
dividends

rampant
liquidity
colossal
the City
sitting on the gravity train
fuss
means curtains
go bust
shame
page 5
Discuss these questions

Which well-known banks or


financial institutions have
gone bankrupt or have run
into financial difficulties in
recent years?
How much money would you
need to feel happy and
prosperous?
How good is your
organization at managing its
spending or cashflow?

page 6

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