Reading Larry Elliott Blog made me realize how accounting mistakes in banking seems to be go unpunished or not severely punished for the actions they have committed. He discussed how banks in the UK continue to pull tricks such as “rigging the foreign exchange market”. This is a huge issue as it impacts a countries economy. All of this is usually causes by bankers who got greedy and thought they could get away with it. The sad truth of this situation is that  “there is no longer anything remotely shocking in the unearthing of financial malfeasance”. It is saddening to think that this does not seem to come as a surprise to people in the UK anymore. Larry Elliott explains these problems occur because “the banks thought they could get away with it”. The issue is that people are sick of having to cover for the banks miscalculation.

Wanting to be an accountant in the future, it sickens me to see these events harm a large amount of people and go unpunished. The banks should be punished for these problems not just the bankers! A solution to the problem is that tougher regulations need to be enforce to “restore faith in the financial system”.