Mervyn King: Banks putting profits before customers

Gerald · 03-05-11, 08:35 AM

Banks are trying to maximise short-term profit at the expense of customers, the Bank of England governor has said.

In a Daily Telegraph interview, Mervyn King questioned the bonus system and warned that failure to reform the sector could result in another financial crisis.

BBC correspondents say the remarks are significant because the Bank of England is taking over regulation.

http://www.bbc.co.uk/news/business-12655035

Note: 5 March 2011 Last updated at 13:16 GMT

Platapus · 03-05-11, 08:47 AM

Say it ain't so, Joe. Say it ain't so.

Oberon · 03-05-11, 08:51 AM

Jimbuna · 03-05-11, 10:05 AM

Quote:

Originally Posted by Oberon

LMAO

Schroeder · 03-05-11, 10:34 AM

Now, who would have thought....

STEED · 03-05-11, 12:25 PM

The guy is a smeg head and as no real idea what hes doing.

sharkbit · 03-06-11, 05:27 PM

Quote:

Originally Posted by Oberon

+1

03-05-11, 08:35 AM	#1
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	Mervyn King: Banks putting profits before customers Banks are trying to maximise short-term profit at the expense of customers, the Bank of England governor has said. In a Daily Telegraph interview, Mervyn King questioned the bonus system and warned that failure to reform the sector could result in another financial crisis. BBC correspondents say the remarks are significant because the Bank of England is taking over regulation. http://www.bbc.co.uk/news/business-12655035 Note: 5 March 2011 Last updated at 13:16 GMT __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie

03-05-11, 08:47 AM	#2
Platapus Fleet Admiral Join Date: Oct 2006 Posts: 19,361 Downloads: 63 Uploads: 0	Say it ain't so, Joe. Say it ain't so. __________________ abusus non tollit usum - A right should NOT be withheld from people on the basis that some tend to abuse that right.

03-05-11, 10:34 AM	#5
Schroeder Navy Seal Join Date: Apr 2008 Location: Banana Republic of Germany Posts: 6,170 Downloads: 62 Uploads: 0	Now, who would have thought.... __________________ Putting Germ back into Germany.

03-05-11, 12:25 PM	#6
STEED Lucky Jack Join Date: Jan 2006 Location: Down Town UK Posts: 27,695 Downloads: 89 Uploads: 48	The guy is a smeg head and as no real idea what hes doing. __________________ Dr Who rest in peace 1963-2017. To borrow Davros saying...I NAME YOU CHIBNALL THE DESTROYER OF DR WHO YOU KILLED IT!

03-05-11, 08:51 AM	#3
Oberon Lucky Jack Join Date: Jul 2002 Posts: 25,976 Downloads: 61 Uploads: 20