"With the image of banks at an all-time low, the industry is currently viewed with the same levels of negativity as organized crime, terrorism, and dictatorship, according to new research from Media Tenor International. This level of negativity, unseen in Media Tenor's 20 years of research across all industries, positions banks as posing a greater societal risk than nuclear power or tobacco, stepping up pressure on regulatory bodies and central banks.
The research, released this week at the World Economic Forum, highlights the critical risks banks face in maintaining their license to operate, while also underscoring the dangers society faces from an untrusted banking sector. The trust meltdown raises questions about how banks can possibly maintain their current client relationships and attract new business with their basic operations under attack by the media, while also suggesting a clear platform for politicians globally."
Comments Martin Wolf, editor of the Financial Times that is practically the house organ of this annual display of affluenza, likens the situation today to the eve World War 1, exactly a Century ago, when the world's rich and its ruler stumbled towards the horrific conflagration in history."
(Somehow when 2012 rolled around, all the buzz was about Mayan prophecies; today, no one seems to remember how, in l914, an assassination triggered a World War in Sarajevo, a city that was devastated a relatively few years ago, and all but forgotten now. Sarajevo was a city surrounded by mountaintops that were used by Bosnian fanatics as perches to kill innocent civilians from.")
So, while awesome in their beauty, mountaintops are not any longer a pathway to the promised land. Not today, not in the world of inequality in which we live.
News Dissector Danny Schechter blogs at NewsDissector.net and
edits Mediachannel.org. His new book in Madiba AtoZ: The Many Faces of Nelson