More evidence of the contempt of bankers

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The FT has reported:

Banks have failed to live up to the spirit of new accounting rules designed to make them disclose more about risk management practices.

In spite of the extra reporting demands placed on financial institutions as a result of the credit crunch, the biggest have largely stuck to the minimum requirements of the rules, frustrating the rulemakers' aim of providing greater transparency, according to a study of banks' year-end accounts by PwC, the accounting firm.

Sometime very soon bankers are going to have learn they do not rule the world.

It may be tough and rough when they realise, but society has to win: these people are the enemies of society as we know it, largely because they simply don't think they're a part of it.


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