If an unchanged business strategy leads to a poorer outcome or deterioration in prospects, it would make sense to attribute this to the transformed landscape of low interest rates and stronger regulation. It goes without saying that causal interactions exist. For example, it is taken as read that monetary policy has an impact on the banking environment.
I am certain that we all agree that people, knowledge and trust are the key foundations of states and all institutions, particularly banking. Trust is a house of cards, destroyed by a tad of doubt, while the fortresses of doubt are made of the strongest material – prejudices and fear.