Psychology and a week of shame for the banking industry
Who’d want to admit to working for a bank after the past few days.
- Natwest’s payments systems went down, leaving customers unable to confirm how much money they had in their account or to make payments.
- Barclays then dropped the bomb, admitting to being fined £290 Million (!) for manipulating the BBA Libor Rate.
- Then banks were found to have mis-sold business rate swaps to small businesses.
Ed Miliband, Leader of the Opposition, is calling for a Leveson-style public enquiry into the whole banking saga since the Credit Crunch of 2008.
All this after the banks had begun to think the time was for the public to “move on” from the anger of the Credit Crunch, and the Occupy protests had been moved on from outside St. Paul’s Cathedral.
While there is much anger about the banks, and a common belief from everyone I talk to…
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