---
title: "Meaning & Key Takeaway of: The financial crisis has underscored how…"
description: "\"The financial crisis has underscored how insufficient attention to fundamental corporate governance concepts can have devastating effects on an institu..."
image: "https://sms4smile.com/quotes/i/244/daniele-nouy-230508_attention_the-financial-crisis-has-underscored-how_1314235.png"
---

#  The financial crisis has underscored how insufficient…

![“The financial crisis has underscored how insufficient attention to fundamental corporate governance concepts can have devastating effects on an institution and its continued viability. It is clear that many banks did not fully implement these fundamental concepts. The obvious lesson is that banks…” quote by Daniele Nouy](https://sms4smile.com/quotes/i/244/daniele-nouy-230508_attention_the-financial-crisis-has-underscored-how_1314235.png)   [Download](https://sms4smile.com/quotes/i/244/daniele-nouy-230508_attention_the-financial-crisis-has-underscored-how_1314235.png) [Open image](https://sms4smile.com/quotes/i/244/daniele-nouy-230508_attention_the-financial-crisis-has-underscored-how_1314235.png)

> “The financial crisis has underscored how insufficient attention to fundamental corporate governance concepts can have devastating effects on an institution and its continued viability. It is clear that many banks did not fully implement these fundamental concepts. The obvious lesson is that banks need to improve their corporate governance practices and supervisors must ensure that sound corporate governance principles are thoroughly and consistently implemented.”

Daniele Nouy

## About This Quote

This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.

Neglecting corporate governance leads to crises; banks must adopt sound governance and regulators must enforce it.

**In simple terms:** Poor governance causes financial crises; enforce strong oversight.

Key Takeaway

Implement robust governance and oversight.

Themes

governance risk finance regulation accountability

Mood

concerned analytical

Type

report policy

When to use this quote

- banking
- regulatory bodies
- investment firms

Key Concepts

corporate oversight risk management policy compliance ethical standards systemic stability

Questions to Reflect On

- How can governance be improved cost‑effectively?
- What incentives drive compliance?

A Different Perspective

Implementation can be costly and face resistance.

★ ★ ★ ★ ★   No ratings yet

[Attention](https://sms4smile.com/quotes/about/attention/) [Corporate](https://sms4smile.com/quotes/about/corporate/) [Crisis](https://sms4smile.com/quotes/about/crisis/) [Customer](https://sms4smile.com/quotes/about/customer/) [Financial crisis](https://sms4smile.com/quotes/about/financial-crisis/) [Governance](https://sms4smile.com/quotes/about/governance/) [Institutions](https://sms4smile.com/quotes/about/institutions/) [Lessons](https://sms4smile.com/quotes/about/lessons/) [Management](https://sms4smile.com/quotes/about/management/) [Money](https://sms4smile.com/quotes/about/money/) [Politics](https://sms4smile.com/quotes/about/politics/) [Practice](https://sms4smile.com/quotes/about/practice/) [Principles](https://sms4smile.com/quotes/about/principles/) [Risk](https://sms4smile.com/quotes/about/risk/) [Risk management](https://sms4smile.com/quotes/about/risk-management/) [Sound](https://sms4smile.com/quotes/about/sound/)

## Related quotes

> [One of the things that the public sector banks need to do is to raise private capital from the market and not rely on…](https://sms4smile.com/quotes/urjit-patel/one-of-the-things-that-the-public-sector-banks-need-to-do-is-to-raise/)

[Urjit Patel](https://sms4smile.com/quotes/author/urjit-patel/)

> [Banks need to have large shareholders on the board that have a direct interest in their performance.](https://sms4smile.com/quotes/mian-muhammad-mansha/banks-need-to-have-large-shareholders-on-the-board-that-have-a-direct/)

[Mian Muhammad Mansha](https://sms4smile.com/quotes/author/mian-muhammad-mansha/)

> [Banks need to continue to lend to creditworthy borrowers to earn a profit and remain strong.](https://sms4smile.com/quotes/ben-bernanke/banks-need-to-continue-to-lend-to-creditworthy-borrowers-to-earn-a/)

[Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/)

> [Banks need to think through their ethics very carefully, and many have done so. I don't know any bank that dismisses the concept of…](https://sms4smile.com/quotes/justin-welby/banks-need-to-think-through-their-ethics-very-carefully-and-many-have-2/)

[Justin Welby](https://sms4smile.com/quotes/author/justin-welby/)

> [The Bankers' New Clothes makes a simple, powerful argument: that banks need to raise more capital. It is entirely persuasive that the extent of…](https://sms4smile.com/quotes/diane-coyle/the-bankers-new-clothes-makes-a-simple-powerful-argument-that-banks/)

Diane Coyle

> [Banks need to think through their ethics very carefully, and many have done so. I dont know any bank that dismisses the concept of…](https://sms4smile.com/quotes/justin-welby/banks-need-to-think-through-their-ethics-very-carefully-and-many-have/)

[Justin Welby](https://sms4smile.com/quotes/author/justin-welby/)

> [International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief.](https://sms4smile.com/quotes/joseph-stiglitz/international-lending-banks-need-to-focus-on-areas-where-private/)

[Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/)

> [We need to change how we run banks. We need to change the culture. If we get it right, we can have a huge…](https://sms4smile.com/quotes/ana-patricia-botin/we-need-to-change-how-we-run-banks-we-need-to-change-the-culture-if/)

[Ana Patricia Botin](https://sms4smile.com/quotes/author/ana-patricia-botin/)

> [I think public sector banks need to have greater private participation of people who have skin in the game.](https://sms4smile.com/quotes/ajay-piramal/i-think-public-sector-banks-need-to-have-greater-private/)

[Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/)

> [Shareholder value gets lost when things are done illegally, when corporate governance is not adhered to, when cohesive action is not taken.](https://sms4smile.com/quotes/cyrus-pallonji-mistry/shareholder-value-gets-lost-when-things-are-done-illegally-when/)

[Cyrus Pallonji Mistry](https://sms4smile.com/quotes/author/cyrus-pallonji-mistry/)

> [Corporate governance is important for small- and medium-sized enterprises, but they can't do it in the same way as big companies.](https://sms4smile.com/quotes/fumio-kishida/corporate-governance-is-important-for-small-and-medium-sized/)

[Fumio Kishida](https://sms4smile.com/quotes/author/fumio-kishida/)

> [I believe good corporate governance is critical in enhancing competitiveness and creating industry - leading profitable growth and superior returns for every stakeholder of…](https://sms4smile.com/quotes/shiv-nadar/i-believe-good-corporate-governance-is-critical-in-enhancing/)

[Shiv Nadar](https://sms4smile.com/quotes/author/shiv-nadar/)

> [Part of the reason some Japanese companies have underperformed financially was corporate governance and board structures.](https://sms4smile.com/quotes/jamie-dimon/part-of-the-reason-some-japanese-companies-have-underperformed/)

[Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/)

> [Corporate governance is a huge issue too. We don't have women on these corporate boards. More than half of the students in law school…](https://sms4smile.com/quotes/claire-mccaskill/corporate-governance-is-a-huge-issue-too-we-don-t-have-women-on-these/)

[Claire McCaskill](https://sms4smile.com/quotes/author/claire-mccaskill/)

> [Corporate governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The governance framework is there…](https://sms4smile.com/quotes/adrian-cadbury/corporate-governance-is-concerned-with-holding-the-balance-between/)

Adrian Cadbury

## More Attention quotes

> [It appears to me that one great cause of our difference in opinion on subjects which we often discuss is that you have always…](https://sms4smile.com/quotes/david-ricardo/it-appears-to-me-that-one-great-cause-of-our-difference-in-opinion-on/)

[David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/)

> [People pay far too much attention to the television and they're quite literal in some ways. At the beginning, when I was playing very…](https://sms4smile.com/quotes/ardal-o-hanlon/people-pay-far-too-much-attention-to-the-television-and-they-re-quite/)

[Ardal O'Hanlon](https://sms4smile.com/quotes/author/ardal-o-hanlon/)

> [Television, radio, social media. The 24/7 news cycle plows forward mercilessly on our desks, in our cars and in our pockets. Thousands and thousands…](https://sms4smile.com/quotes/joseph-prince/television-radio-social-media-the-24-7-news-cycle-plows-forward/)

[Joseph Prince](https://sms4smile.com/quotes/author/joseph-prince/)

> [By making conscious choices in our behavior and where we focus our attention, we can transform our experience of our body, decrease our biological…](https://sms4smile.com/quotes/deepak-chopra/by-making-conscious-choices-in-our-behavior-and-where-we-focus-our/)

[Deepak Chopra](https://sms4smile.com/quotes/author/deepak-chopra/)

> [Our inventions are wont to be pretty toys, which distract our attention from serious things. They are but improved means to an unimproved end.](https://sms4smile.com/quotes/henry-david-thoreau/our-inventions-are-wont-to-be-pretty-toys-which-distract-our/)

[Henry David Thoreau](https://sms4smile.com/quotes/author/henry-david-thoreau/)

> [What people don't normally know about us is the hustle is very real, and it's sorely driven a lot by how we consider ourselves.…](https://sms4smile.com/quotes/lzzy-hale/what-people-don-t-normally-know-about-us-is-the-hustle-is-very-real/)

[Lzzy Hale](https://sms4smile.com/quotes/author/lzzy-hale/)

> [For me, the term "psychotherapy" is limiting. It implies that we work with mind and emotions, but excludes the body and pays scant attention…](https://sms4smile.com/quotes/jed-diamond/for-me-the-term-psychotherapy-is-limiting-it-implies-that-we-work/)

[Jed Diamond](https://sms4smile.com/quotes/author/jed-diamond/)

> [When you approach something to photograph it, first be still with yourself until the object of your attention affirms your presence. Then don't leave…](https://sms4smile.com/quotes/minor-white/when-you-approach-something-to-photograph-it-first-be-still-with/)

[Minor White](https://sms4smile.com/quotes/author/minor-white/)

> [I'm writing about real things. Real people. Real characters. You have to believe what I write about is true or you wouldn't pay any…](https://sms4smile.com/quotes/lou-reed/i-m-writing-about-real-things-real-people-real-characters-you-have-to/)

[Lou Reed](https://sms4smile.com/quotes/author/lou-reed/)

> [ I went to a mosque in Philadelphia with \[my wife\] in December 24, 1999. And we we went to this mosque in Philly, and… ](https://sms4smile.com/quotes/mahershala-ali/i-went-to-a-mosque-in-philadelphia-with-my-wife-in-december-24-1999/)

[Mahershala Ali](https://sms4smile.com/quotes/author/mahershala-ali/)

> [The Harvard Business Review recently had an article called 'The Human Moment,' about how to make real contact with a person at work: ...…](https://sms4smile.com/quotes/daniel-goleman/the-harvard-business-review-recently-had-an-article-called-the-human/)

[Daniel Goleman](https://sms4smile.com/quotes/author/daniel-goleman/)

> [Let us thank God heartily as often as we pray that we have His Spirit in us to teach us to pray. Thanksgiving will…](https://sms4smile.com/quotes/andy-murray/let-us-thank-god-heartily-as-often-as-we-pray-that-we-have-his-spirit/)

[Andy Murray](https://sms4smile.com/quotes/author/andy-murray/)

> [Enlightened people live in very charged states of attention, with a tremendous power circuiting through them.](https://sms4smile.com/quotes/frederick-lenz/enlightened-people-live-in-very-charged-states-of-attention-with-a/)

[Frederick Lenz](https://sms4smile.com/quotes/author/frederick-lenz/)

> [We must have a welfare system that we can afford, which will mean giving greater attention to directing the welfare program toward its primary…](https://sms4smile.com/quotes/michael-portillo/we-must-have-a-welfare-system-that-we-can-afford-which-will-mean/)

[Michael Portillo](https://sms4smile.com/quotes/author/michael-portillo/)

> [The director's job should give you a sense of music without drawing attention to itself.](https://sms4smile.com/quotes/taylor-hackford/the-director-s-job-should-give-you-a-sense-of-music-without-drawing/)

[Taylor Hackford](https://sms4smile.com/quotes/author/taylor-hackford/)

[Browse all 10,153 Attention quotes ](https://sms4smile.com/quotes/about/attention/)

```json
{
    "@context": "https://schema.org",
    "@graph": [
        {
            "@type": "Quotation",
            "text": "The financial crisis has underscored how insufficient attention to fundamental corporate governance concepts can have devastating effects on an institution and its continued viability. It is clear that many banks did not fully implement these fundamental concepts. The obvious lesson is that banks need to improve their corporate governance practices and supervisors must ensure that sound corporate governance principles are thoroughly and consistently implemented.",
            "creator": {
                "@type": "Person",
                "name": "Daniele Nouy"
            },
            "isPartOf": {
                "@id": "https://sms4smile.com/quotes/#website"
            },
            "url": "https://sms4smile.com/quotes/daniele-nouy/the-financial-crisis-has-underscored-how-insufficient-attention-to/",
            "about": {
                "@type": "Thing",
                "name": "Attention"
            },
            "@id": "https://sms4smile.com/quotes/daniele-nouy/the-financial-crisis-has-underscored-how-insufficient-attention-to/#quotation",
            "image": {
                "@type": "ImageObject",
                "@id": "https://sms4smile.com/quotes/i/244/daniele-nouy-230508_attention_the-financial-crisis-has-underscored-how_1314235.png",
                "contentUrl": "https://sms4smile.com/quotes/i/244/daniele-nouy-230508_attention_the-financial-crisis-has-underscored-how_1314235.png",
                "url": "https://sms4smile.com/quotes/i/244/daniele-nouy-230508_attention_the-financial-crisis-has-underscored-how_1314235.png",
                "width": 1080,
                "height": 1080,
                "caption": "“The financial crisis has underscored how insufficient attention to fundamental corporate governance concepts…” — Daniele Nouy",
                "creditText": "SMS4Smile Quotes",
                "creator": {
                    "@id": "https://sms4smile.com/quotes/#organization"
                }
            }
        },
        {
            "@type": "BreadcrumbList",
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "name": "Home",
                    "item": "https://sms4smile.com/"
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "name": "Quotes",
                    "item": "https://sms4smile.com/quotes/"
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "name": "Daniele Nouy",
                    "item": "https://sms4smile.com/quotes/author/daniele-nouy/"
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "name": "The financial crisis has underscored how...",
                    "item": "https://sms4smile.com/quotes/daniele-nouy/the-financial-crisis-has-underscored-how-insufficient-attention-to/"
                }
            ],
            "@id": "https://sms4smile.com/quotes/daniele-nouy/the-financial-crisis-has-underscored-how-insufficient-attention-to/#breadcrumb"
        },
        {
            "@type": "WebSite",
            "@id": "https://sms4smile.com/quotes/#website",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "publisher": {
                "@id": "https://sms4smile.com/quotes/#organization"
            }
        },
        {
            "@type": "Organization",
            "@id": "https://sms4smile.com/quotes/#organization",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "logo": {
                "@type": "ImageObject",
                "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png",
                "width": 512,
                "height": 512
            }
        }
    ]
}
```