In this lively episode, Anat Admati (Professor of Finance and Economics at Stanford) explains what she believes to be wrong about banking, and how it should be changed. Anat is co-author (with Martin Hellwig) of The Bankers' New Clothes, originally published in 2013, then expanded and re-published this year to encompass the era of increased regulation. Interviewer Russell Napier challenges Anat on some of her opinions, and Anat challenges Russell back, making for a fascinating listen.•The Library of Mistakes runs an outstanding course called the Practical History of Financial Markets. To find out more, go to: www.libraryofmistakes.com/course

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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