Restraing Regulatory Capture? Anglo America, Crisis Politics and Trajectories of Change in Global Financial Governance

A growing number of respected commentators now argue that regulatory capture of public agencies and public policy by leading banks was one of the main causal factors behind the financial crisis of 2007–2009, resulting in a permissive regulatory environment. This regulatory environment placed a faith in banks own internal risk models, contributed to pro-cyclical behaviour and turned a blind eye to excessive risk taking. The article argues that a form of ‘multi-level regulatory capture’ characterized the global financial architecture prior to the crisis. Simultaneously, regulatory capture fed off, but also nourished the financial boom, in a fashion that mirrored the life cycle of the boom itself. Minimizing future financial booms and crises will require continuous, conscious and explicit efforts to restrain financial regulatory capture now and into the future. The article assesses the extent to which this has been achieved in current global financial governance reform efforts and highlights some of the persistent difficulties that will continue to hamper efforts to restrain regulatory capture. The evidence concerning the extent to which regulatory capture is being effectively restrained is somewhat mixed, and where it is happening it is largely unintentional and accidental. Recent reforms have overlooked the political causes of the crisis and have failed to focus explicitly or systematically on regulatory capture.

The Supremacy of the Sequence: Key Elements and Dimensions in the Process of Change

How single organizations manage the process of change and why only some of them are able to actually reach radical change are central questions in today’s theoretical debate. The role played by the process of change and its dimensions (namely, pace, sequence and linearity), however, has been poorly investigated. Drawing on archetype theory, this paper explores: (i) whether a specific pace of radical change exists; (ii) whether different outcomes of change are characterized by different sequences of change in key-structures and systems (iii) how the three dimensions of the process of change possibly interact. As an example of organizational change the study takes into consideration processes of accounting change in three departments of two Canadian and two Italian municipalities. The results suggest the supremacy of the sequence of implemented changes over the other two dimensions of the process in order to achieve a radical outcome of change.

School-based counseling using systematic feedback: A cohort study evaluating outcomes and predictors of change

The outcomes of school-based counseling incorporating the Partners for Change Outcome Monitoring System (PCOMS) were evaluated using a cohort design, with multilevel modeling to identify predictors of change. Participants were 288 7-11 year olds experiencing social, emotional or behavioral difficulties. The intervention was associated with significant reductions in psychological distress, with a pre-post effect size (d) of 1.49 on the primary outcome measure and 88.7% clinical improvement. Greater improvements were found for disabled children, older children, and where CBT methods were used. The findings provide support for the use of systematic feedback in therapy with children.

Belfast's Traditional Music Scene: A Narrative of Change and Development

Today Belfast is home to a vibrant traditional music scene. There have never been more sessions, concerts, classes or lectures devoted to traditional music in the north's biggest city. A complex system of promoters, performers and listeners has emerged in a city that is growing in confidence as it moves away from the dark days of the Troubles. But how does this system function? While Dowling (2014) has examined the development of traditional music-making in Belfast as it shifted from a pre-conflict to conflict ridden environment, little research has been carried out into the reasons behind the boom in traditional music-making in a post-conflict setting.

This paper examines the impact upon the traditional music scene of the first wave of students to arrive in Belfast after the signing of the Good Friday Agreement in 1998. These musicians, such as Donal O'Connor, Ruadhrai O'Kane and Aidan Walsh have had a lasting impact upon the lives of musicians native to Belfast, helping to bring traditional music to new venues and audiences.

The work of Belfast-based music schools with varying remits, such as Belfast Trad., and the Andersonstown School of Traditional and Contemporary Music, is also examined for the purpose of illustrating how both adults and young people are being educated about their musical heritage.