PPI Claim News - 16/12/2009

Bank Charges: Banks 'to blame for credit crisis'

A large number of Britain's private investors believe that banks must take the blame for plunging the UK into recession, something that has left many facing unfair bank charges they cannot pay.

According to a survey by F&C News in Brief, more than a third (34.4 per cent) believe banks should be held primarily responsible for the credit crisis that has blighted the last two years.

The same proportion suggested that responsibility for the global financial crisis should be shared.

Some 60 per cent expressed a believe that authorities responsible for regulating the financial sector were part of the problem, adding that they do not trust them to ensure similar mistakes are not made again in the future.

Mike Woodward, head of investment trusts at F&C Investments, said: "While it seems our investors are a thoughtful bunch not prone to the kind of knee-jerk reactions we have seen in the popular press, more than a third still believe banks are most to blame for the credit crunch."

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