In the U.S., there is so much remaining “public cynicism” from the problems on Wall Street a few years ago and the ensuing financial reforms that consumers are no longer surprised by banking scandals, suggested Marcus Stanley, policy director at Americans for Financial Reform.
“I think people open the newspapers these days and say, ‘Oh, the banks are cheating and exploiting the system. What else is new?’” he said. “They are well aware that there are problems in our financial system, so these revelations almost don’t come as a surprise anymore.”
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Tim Devaney is a national reporter who covers business and international trade for The Washington Times. Previously, he worked for the Detroit News, Grand Rapids Press, Portland Press Herald and Bangor Daily News. Tim can be reached at tdevaney@washingtontimes.com.
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