Photo: newcityagenda.co.uk
A well functioning society, community, economy, business, politics, or indeed anything else in life cannot operate without trust, a trust that has been destroyed by neo-liberalism that values everything else, but trust.
Photo: wordpress.com
“Persistent misconduct and an aggressive sales culture has cost the UK’s banks and building societies £53bn in fines, compensation and legal fees over the past 15 years.
“According to research published on Monday the cost of the payment protection insurance (PPI) misselling scandal has reached £37.3bn – about four times the cost of the 2012 London Olympics.
“The New City Agenda thinktank, which published the research, said the second most costly scandal – misselling of interest rate swaps – had cost £4.8bn.
“John McFall, the former Labour MP who used to chair the Treasury select committee, said: “The profitability of UK retail banks has been imperilled by persistent misconduct and an aggressive sales-based culture. This has made every citizen poorer through our pension funds and our ownership of the bailed-out banks.”…
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Misconduct 'has cost UK's banks £53bn over 15 years'
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Corruption, Corruption,... Corruption, Everywhere
“If only everything in life was as reliable as a Volkswagen”