City bankers 'accept blame' for credit crisis

17-04-2008

City bankers 'accept blame' for credit crisis
The majority of finance workers in the City of London have stated that they are partly to blame for the current crisis in the sector.

A survey by eFinancialCareers.com revealed that 41 per cent out of the 1,800 City bankers questioned accept some responsibility for the current global financial problems, reports Online Recruitment.

These financiers believe that all banks - regardless of their location - are at fault, not just one institution.

However, 19 per cent pinned the blame on subprime borrowers in the US.

Editor of eFinancialCareers.com Sarah Butcher stated: "There are still are those within the finance sector who would prefer to blame external factors.

She commented that the outlook for the sector is still gloomy, saying: "Emotions are understandably running high at the moment given the continuing flow of bad news from the sector."

Around 20,000 jobs could be shed in the City during this year, the Centre for Economic and Business Research stated as it revised its previous forecasts for the sector.

Related categories: Banking / Finance.


Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

See also:

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Automotive
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Legal
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Telecommunications
Transport / Logistics
Travel / Tourism / Leisure