Sunday 11 December 2016

Central Bank finally acts to protect the consumer

Published 06/08/2016 | 02:30

THERE has been understandable frustration that so much water has passed under the bridge and so little has changed in the interest of the consumer since the crash.

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In the aftermath of the financial collapse, this was probably best articulated by Joseph Stiglitz, who lamented: "We have banks that are not only too big to fail, but too big to be held accountable."

The Nobel prize-winner railed against the fact that those who played exclusively by their own rules and for their own interests, without due scrutiny, could profit so handsomely in politics and business.

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