John Varley, head of Barclays, has predicted that given the current economic conditions the credit crunch will last approximately two more years, with the first signs of recovery coming in around 18 months time. He also suggests banks should "apologise" to customers to regain their trust.
Barclays boss: Banks must apologise | Metro.co.uk
I'm not qualified to argue with his forecasts but I do find it odd that to regain our trusts banks only feel they need to apologise... Reducing interest rates on credit, pursuing other options on mortgage defaulters other than repossession, reducing the ridiculous charges they enforce and perhaps repaying the millions payed to them erroneously due to mis-sold PPI would I feel do a lot more.
Barclays boss: Banks must apologise | Metro.co.uk
I'm not qualified to argue with his forecasts but I do find it odd that to regain our trusts banks only feel they need to apologise... Reducing interest rates on credit, pursuing other options on mortgage defaulters other than repossession, reducing the ridiculous charges they enforce and perhaps repaying the millions payed to them erroneously due to mis-sold PPI would I feel do a lot more.