As creators of credit, banks are in a very privileged position. To create a loan, the equivalent of making a sale for other companies, banks just need to type a number into a computer and hit ‘enter'. This is a licence that frequently gets abused if banks throw caution to the wind.
When it does, the consequences can be painful, as has been evident in much of the developed world in the last three years. In years gone by, bankers were personally liable for the loans they extended....
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation