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PPI Claim News - 23/3/2010

PPI: Untrustworthy bankers taking risks again, claims expert

Untrustworthy bankers have returned to the risk-taking ways of the pre-financial crash era, an expert has claimed.

Economist John Kay, author and professor at the London School of Economics, told Bloomberg News that the attitude of the banking sector needs to change, otherwise we could witness even more extreme financial turmoil.

He explains that there is a very dangerous opinion that the bankers have weathered the storm and therefore escaped regulation.

"[For] so many people I talk to in the financial sector, it's kind of, 'Phew, we got away with it, now we can get on with making money in the same old way'," He told the news provider.

"If we do that we’re going to end up, probably quite soon, with an even larger version of the kind of crisis we've just been through."

He also claimed that people were right not to trust the retail banking industry due to the way in which it has "behaved".

Several of the UK's leading banks had to be rescued through government assistance and taxpayer finance, including the Royal Bank of Scotland (RBS), which is now 84 per cent part-nationalised.

But despite the level of support, customers have been faced with high interest rates and credit card charges.

If you would like to get your payment protection insurance back - PPI Claim from RBS then fill out the Quick Claim form or call Belmont Thornton on 0845 526 0000 for PPI claim advice.ADNFCR-2776-ID-19683392-ADNFCR

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