Summary
Former "Masters of the Universe" are not used to being called upon to explain their actions. It is not something they do. But four former members of this exclusive group appeared before the Treasury Select Committee, and said they were sorry.
Their apologies were qualified by saying that no one could have foreseen the severity of the economic downturn. While many will find it difficult to sympathise with them, it would be unrealistic to attribute full blame for the financial crash to the bankers. Since 1986, it has suited successive governments to treat the financial institutions as a cash cow that could do no wrong.See the full content of this document
Extract
Bankers' Expertise Overrated
Carte blanche has been given to people who were little better regulated. Th...
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