Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News - 9/12/2009

Credit Card PPI: Bankers told to 'wake up'

A senior financial figure has accused bankers of failing to understand the scale of the financial crisis and adopting a 'business as usual attitude'.

The comments were made by economist Paul Volcker, who served as chairman of the US Federal Reserve between 1979 and 1987 at a business conference in Sussex organised by the Wall Street Journal newspaper.

In particular, he criticised the development of the derivatives industry which he blamed for triggering the global financial crisis last year, saying that it made no contribution to the economy at all.

He said: "[There is] little evidence innovation in financial markets has had a visible effect on the productivities of the economy," the Daily Telegraph reported.

Mr Volcker also made a plea for banks to return to their role as holders of deposits and lenders to small businesses, with these activities being separated from the riskier activities of hedge funds and derivatives traders.

For free advice on how to make a PPI ClaimPayment Protection Insurance claim or a credit card charges claim then call Belmont Thornton on 0845 526 0000 or fill in the Quick Claim form to be sent a free PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19503842-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide