Trust, faith & confidence – panel tackles what we believe in (and don’t) and why it matters

Thomson Reuters TRust Index

Last week at the Aspen Ideas Festival, we offered a panel on Trust as the Currency of the New Economy moderated by Thomson Reuters Global Head of Regulatory Intelligence Scott McCleskey and expert panelists

  • Peter Orszag, vice chairman of corporate and investment banking and chairman of the financial strategy and solutions group at Citigroup, previously President Obama’s director of the Office of Management and Budget;
  • William Mayer, founder of Park Avenue Equity Partners, former president and chief executive officer of First Boston and chairman of the Aspen Institute from 2000 to 2008, currently on its Executive Committee;
  • James Coulter, co-founder and founding partner at TPG Capital, formerly with the Keystone Group, LP and Lehman Brothers Kuhn Loeb Inc.; and
  • Gillian Tett, markets and finance commentator, assistant editor of the Financial Times, previously U.S. managing editor and overseer of global coverage of the financial markets.

Based on our own Thomson Reuters TRust Index, the panel explored the topic of trust today and the panelists ranged across many sectors and many points of view in a meaningful conversation about one of the hottest issues of our time.

Among the most interesting opinions and comments:

“ Finance without faith is worth absolutely naught” -Gillian Tett

” Most people cheat, but only a little. The difference is now we know more – our digital, connected society
means we see every detail in high definition.” – Peter Orszag

“Trust may require a tiny bit of opacity, faith needs to be a little bit blind.” – James Coulter

“In the US we operate on a laws-based system, while in the UK its a rules-based or principles-based system.” – William Mayer “Absolutely. The flaw in our system may be that we talk about what is legal rather than what is right, with no flux or recognition of intent.” – James Coulter

“Confidence, trust, or the lack thereof, is what is constraining the economy, the recovery.” – William Mayer

Watch the entire conversation below: