{"id":13402,"date":"2012-01-03T08:32:25","date_gmt":"2012-01-03T08:32:25","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=13402"},"modified":"2012-01-03T08:32:25","modified_gmt":"2012-01-03T08:32:25","slug":"in-bankers-dont-we-trust","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/01\/03\/in-bankers-dont-we-trust\/","title":{"rendered":"In bankers don&#8217;t we trust"},"content":{"rendered":"<p>As the <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/d6f0d5f8-2af2-11e1-a9e4-00144feabdc0.html#ixzz1iNjC944E\" target=\"_blank\">FT notes this morning<\/a>:<\/p>\n<blockquote><p>Large financial groups were ordered to shell out more than \u00a3160m in compensation to customers in 2011 as the UK Financial Services Authority cracked down on mistreatment of retail investors by some of the UK\u2019s best-known firms.<\/p>\n<p>The compensation payments dwarfed the \u00a355.7m in corporate fines imposed last year by the City watchdog on firms including HSBC,\u00a0Barclays\u00a0and\u00a0Royal Bank of Scotland<\/p><\/blockquote>\n<div>Of course \u00a3205 million is peanuts in relation to the assets of these\u00a0organisations. The point is more significant:they can't be trusted to undertake even the most basic of tasks properly. And yet we still bow to their demands.<\/div>\n<div><\/div>\n<div>Why?<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As the FT notes this morning: Large financial groups were ordered to shell out more than \u00a3160m in compensation to customers in 2011 as the<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/01\/03\/in-bankers-dont-we-trust\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70],"tags":[],"class_list":["post-13402","post","type-post","status-publish","format-standard","hentry","category-banking"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/13402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=13402"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/13402\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=13402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=13402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=13402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}