It’s a never-ending story. The global banking sector remains deep in the sludge of scandal, corruption and mismanagement. It continues to fail in its supposed purpose, namely to provide liquidity and credit to households to buy ‘big ticket’ items (or even cover monthly outgoings) and to businesses to enable them to pay for working capital and investment to grow. And yet in 2012, bank share prices have rocketed by over 25%, more than the booming stock market indexes.
Via Jamie Jordan