Mark Carney Governor of the Bank of England says "untenable to argue that problem is a few bad apples. It is the barrels in which they are stored"

The Bank of England tweeted Carney's sentiments to its 120,000 or so Twitter followers to make sure as many as possible heard. Here it is - 

"Bank of England        ✔ @bankofengland Follow

#FinancialStabilityBoard’s Carney says untenable to argue that problem is a few bad apples. It is the barrels in which they are stored"

Is it time to stop bashing factoring companies? Have the crooks already been knocked out of the ring? Is RABF just hindering the new saintly asset based lenders? As they clean up after the few bad apples who spoiled it for everyone else? Of course not!!! 

 The Treasury minister responsible for the City of London said in July 2014:

"I think there's quite a long way to go to really change the culture.... I think we are still going to see a lot of cringeworthy announcements."

A report on "The Culture of British Retail Banking" in November 2014 by the Cass Business School and the think tank New City Agenda (founded by cross-party luminaries) stated banking including asset based lending suffers from:

"A toxic culture decades in the making [that] will take a generation to clean up."

This same report refers to an ethics study done in June 2013, several years after the banking crash, showing the banks and assset based lenders are still swimming in a red sea of bad ethics.So much for ABFA's Ombusdman service!