In the heated aftermath of the financial crisis, an angry public decreed that the big banks had got off lightly. They didn’t get their pound of flesh, and I wish they had. Tougher action at the time might have been kinder in the longer run.
It would certainly have been preferable to what we have today, death by a thousand tax hikes and financial penalties.
Banks that didn’t need a bailout, such as Barclays (LSE: BARC) (NYSE: BCS.US) and HSBC Holdings (LSE: HSBA) (NYSE: HBC.US), are being punished as vigorously as Royal Bank of Scotland Group (LSE: RBS) and Lloyds Banking Group, which…
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Harvey Jones has no position in any shares mentioned. The Motley Fool UK has recommended shares in HSBC and owns shares in Tesco. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.