The Silo Effect

Gillian Tett has a PhD in social anthropology from Cambridge University. She became a Journalist with a strong interest in finance. She served as the Financial Times newspaper's deputy head of the Lex column (an agenda-setting column on business and financial topics), Tokyo bureau chief, economic correspondent, and foreign correspondent. In 2003, she published a book on Japan's banking crisis, Saving the Sun: How Wall Street Mavericks Shook Up Japan's Financial World and Made Billions. In 2004 she began building a group at the Financial Times to cover capital markets anticipating the need to watch an industry that was growing quickly. By 2007, one year before everyone else, she began issuing warnings of a looming financial crisis. In honor of her work she was given 3 awards: the Journalist of the Year at the British Press Awards, British Business Journalist of the Year and the Wincott Prize. She speaks regularly at conferences around the world on finance and global markets. She is the author of Fool's Gold: The Inside Story of JP Morgan and How Wall Street Greed Corrupted It's Bold Dream and Created a Financial Catastrophe. It is the tale of how a team of Wall Street bankers led by JP Morgan created the world of "Shadow Banking" and then lost control of their creation.