Authorities are about to crack down on banks again – but it’s you who will feel the pain

There is no such thing as a free lunch. Everything has a cost; all decisions have consequences. It is a shame that the hordes of braying banker-bashers don’t seem to grasp that basic truth. It goes without saying that the industry needed to change dramatically after the crisis of 2008. But that obviously doesn’t mean that all change is always right, or that the authorities have pushed through the right kinds of reforms. Continue reading