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MPs blame bankers for economic turmoil

Yet again the UK banking scene has come in for some significant criticism from MPs across all parties. Blaming a culture of "easy rewards", the fault for the current economic climate has been laid fairly and squarely at the door of the UK financial sector. However, this is now old news and many consumers across the UK are more interested in the future and how regulators will ensure we do not see a repeat of the debacle.

While there is no doubt that the UK banking sector has spawned a substantial number of millionaires of the last decade it has also come to the rescue of the UK government on a number of occasions. The continuous pursuit of profits, often coming with additional risk, pushed not only the UK banking sector to the limit but also saw the worldwide banking sector overstretched. If nothing else, the ongoing economic crisis around the world has shown how critical the banking sector is to the worldwide economy and how much power these institutions hold over everybody.

As a consequence we are seeing more and more regulators from around the world suggesting a "carve up" of the worldwide financial sector to reduce the power and potential for further mishaps in the future.

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