Here is a link to The Unbanker's Blog
It made me think of the banks. The parallels could be really quite extraordinary. The scandal that exposes one company; the scandal spreads to other companies; the fines get larger and larger and then more scandals emerge, until a complex web of planned and managed deceit is uncovered that stretches across a whole industry. But whilst, in this case, the fines, costs and uncertainty will almost certainly kill VW, the big banks power on with full steam, shaken, but not really stirred. They have the financial resource and the political and economic power to withstand the fines, to see off the class actions, and to say to governments and regulators “mess with us at your peril”. VW simply does not. The one aspect though that the banks cannot deal with is the loss of consumer trust. Do they know this?