(Scotsman) Terry Murden: Is it wise to put faith in bank promises?

Here we go again. The consortium that has just bought 314 branches from the Royal Bank of Scotland is pledging to launch an “ethical” bank. Now, where have we heard that before?

Of course, it was Co-op. The one that claimed its mutual ownership was more righteous than those banks with nasty shareholders and which said it would not get into the sort of mess that brought down the big banks. Well, not until it did get into the same sort of mess, which cast doubt over its entire banking operations.

Read it all.


Posted in * Anglican - Episcopal, * Economics, Politics, * International News & Commentary, --Justin Welby, Archbishop of Canterbury, Consumer/consumer spending, Economy, England / UK, Ethics / Moral Theology, Personal Finance, The Banking System/Sector, Theology

One comment on “(Scotsman) Terry Murden: Is it wise to put faith in bank promises?

  1. Dan Crawford says:

    “Ethical bank” – an oxymoron. I submit for your consideration Bank of America, Wells Fargo, Moran Stanley and the whole host of “financial institutions” who have left such an incredible legacy of “ethical banking”.