City bankers put hand up for current financial crisis

The latest figures from eFinancialCareers.com, the global financial services careers website, reveal that 41% of UK City bankers believe they are in part to blame for the current global financial crisis. Of the more than 1800 city workers polled, 41% said the culpability for the state of the financial sector lies not with a single major player but with ìall banksî irrespective of location.

However, whilst many bankers seemed quick to put up their hands and take part of the wrap, many also pointed their fingers squarely across the pond at the U.S. with 19% of respondents pinning the blame on American sub-prime borrowers, 18% on former Fed chairman Alan Greenspan and a further 11% on troubled American investment bank Bear Stearns.

Sarah Butcher, editor of eFinancialCareers.com, commented:

ìEmotions are understandably running high at the moment given the continuing flow of bad news from the sector. But despite all the apparent soul searching and finger pointing, there are still are those within the finance sector who would prefer to blame external factors.î



Of the 1827 UK respondents, 11% preferred to view the current crisis as divine intervention.