Page 10 - Flip Banks TG

Culture

Culture underpins all the actions of the case study banks.

But culture does not act in isolation rather it is influenced by

a variety of other factors such as

• Poor Macro Economics: Gordon Brown’s ‘Light Touch Financial

Regulations’ pre-2008
• Weak Regulators: Inability of FCA to act against GRG

• Weak Diligence: Sub-prime lending by banks
• Industry Practice: Banks’ influence over LIBOR interest rate

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