There was a time when people had utmost faith in banks. It was not unusual for people to seek advice from their bankers how to invest their hard earned money. Any money kept with banks was deemed to be 100% safe.
Post 2007, things have changed drastically. It has become difficult to distinguish between bankers and politicians in terms of their trust-worthiness. Frauds committed by and on banks have become one too many.
I am tempted to write this because today when I saw a headline in NYTimes "DealBook: Barclays Charged with Fraud", I was least interested in reading the details. I was only wondering 'What is new in a bank committing a fraud?'
Would banks ever regain their credibility?
Post 2007, things have changed drastically. It has become difficult to distinguish between bankers and politicians in terms of their trust-worthiness. Frauds committed by and on banks have become one too many.
I am tempted to write this because today when I saw a headline in NYTimes "DealBook: Barclays Charged with Fraud", I was least interested in reading the details. I was only wondering 'What is new in a bank committing a fraud?'
Would banks ever regain their credibility?
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