By Harvey Jones – Friday, 21 November, 2014
Given the bashing they got after the financial crisis, it’s amazing the banks survived at all. Even former Bank of England governor Mervyn King was surprised people weren’t angrier at their behaviour.
Barclays (LSE: BARC), HSBC Holdings (LSE: HSBA), Lloyds Banking Group (LSE: LLOY) and Royal Bank of Scotland Group (LSE: RBS) escaped the guillotine that time, but they may be heading for the chopping block now.
There’s a revolution going on in the banking sector, and this time the ancient regime could be doomed.
Top dividend investor Neil Woodford saw it coming, and made good his escape. His concern was “fine inflation”, as regulators court favour with the mob by slapping ever harsher penalties on our banking overlords.