Treasury report slams British banks for culture of ‘reckless behaviour’

A culture of risk-taking among financial institutions led to a comprehensive failure of the British banking system at all levels, the fallout from which will be felt for generations.

2nd May, 2009

A culture of risk-taking among financial institutions led to a comprehensive failure of the British banking system at all levels, the fallout from which will be felt for generations. That was the conclusion of the influential Treasury Select Committee in its second report into the banking crisis, which slammed the banks’ for their reckless behaviour.

Committee chairman John McFall said that ‘‘bankers have made an astonishing mess of the financial system’’....

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