– Sir Mervyn King, Governor of the Bank of England
What I hope is that everyone, everyone, now understands that something went very wrong in the banking industry and we need to put it right.
That goes for both the question of culture in banking industry and to the structure of the banking industry from excessive levels of compensation to shoddy treatment of customers to a deceitful manipulation of one of the most important interest rates and now this morning to news of yet another mis-selling scandal.
We can see that we need a real change in the culture of the industry.
Sir Mervyn King, the governor of the Bank of England, has called for a change in the culture of British banking amid turmoil at Barclays and a fresh admission by banks that mis-sold financial products to businesses.