The Financial Conduct authority wants to ‘engage individually’ with major banks: a relief for bankers,but not for anyone elseThe last serious scandal to squeeze into the news in 2015 doesn’t turn out to be Lynton “dog whistle” Crosby’s knighthood or other recipients of Dodgy Dave’s novel Year honours list. No, it’s the decision by Britain’s financial watchdog to drop its investigation into the UK’s banking culture. This retreat from “banker bashing”, and most of it well deserved since the crash of 2007-09,has been visible for a long time. But it has accelerated since the general election in May produced a slender Tory majority for president Cameron and his prime minister, George Osborne. It will advance as some relief for the banking business, and but not the rest of us.
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Source: theguardian.com