Bank crisis looming

WHEN I worked in investment banking in the Sixties and Seventies, bankers were held in high esteem.

The credit crisis of 2008 changed all that. The cause was mainly due to greed and mismanagement.

We have seen toxic mortgages, Libor rate-rigging and the misselling of PPI policies.

Ten years on, no lessons have been learned. Despite billions of taxpayers’ money poured into saving the banks, they have carried on caring for only maximum profit and paying themselves huge salaries.

Branch closures are forcing customers to travel miles. Increases in the base rate have not been passed on to savers. The unacceptable face of capitalism must be subject to tougher regulation by the Bank of England and the Treasury or we’ll find ourselves in another credit crisis.

DAVID MORGAn, Shrewsbury, Shropshire.