In Denmark, we basically trust our institutions and firms and each other. But when this trust is broken, we cannot simply lean back and wait for it to be restored. That requires an effort. Trust is something we earn. And in this respect the financial sector has its task cut out.
It is by no means all banks that misbehave, presumably it is only a few and perhaps only in certain respects. But a breach of trust rubs off on the whole sector. *** *** *** Lenin said, "trust is good, control is better". I prefer to say that trust is good – in fact it is a precondition – but control is necessary.