When is comes to apportioning blame for the current economic recession, it seems that bankers are getting the lion’s share, according to a PR Week survey carried out by research company OnePoll.
In fact, 72% of survey respondants blame irresponsible corporations and individuals for the recession and it’s investment banks that people blame first, closely followed by high street banks.
Two in five people say they no longer trust banks. They want greater regulation of banks and disapprove of the bonuses awarded to those within the profession. Eighty-eight per cent of respondents say bankers don’t deserve bonuses and nearly half would like to see bonuses both capped and regulated. And as for the argument that that UK bankers will find work abroad if they can’t earn bonuses here, 60% of respondents don’t agree.
It’s not shocking that bankers get the blame; but its a bit surprising that they get almost all the blame with so little landed with politicians and policy-makers. But then maybe politicians have had a lot more practice at managing their own reputations.
In the Isle of Man the finance industry represents a huge part of our GDP, so we all have a stake in helping rebuild the reputation of banking. But first bankers must help themselves by taking a proactive stance and leading the debate on industry issues. Making their voices heard is the first step on the road to recovery.
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