In London next month, the Adam Smith Institute will host John A. Allison, former chairman and CEO of BB&T, who will give The Ayn Rand Lecture. Mr. Allison, a member of the board of directors of the Ayn Rand Institute, will discuss the long-term consequences of the financial crisis. The event is strictly by invitation only; queries should be directed to the Adam Smith Institute. From an announcement about the event:
US banking luminary John Allison – who is unafraid to speak frankly about the grim reality of the financial crisis – delivers the ASI’s prestigeous Ayn Rand Lecture in the City of London on 21 June.
While others blame bankers’ bonuses or credit derivatives, Allison believes the root problem is that banking is not capitalist enough – as demonstrated by the multi-billion bank bailouts and the fact that interest rates are set by central banks rather than by the market.