New at the Belmont Club. Crimes of Fashion. The media can make a star, but only God can make a gentleman.
Belmont Club: Crimes of Fashion
Sometimes we are governed by considerations that fly below the radar. Take de-risking, also known as de-banking. It “is the closure of people’s or organizations’ bank accounts by banks who perceive the account holders to pose a financial, legal, regulatory, or reputational risk to the bank.” Ostensibly it’s chief use is to keep money launderers and criminals out of banks. But ‘reputational risk’ is an elastic term and it is sometimes used to keep social undesirables out.