Do Banks Bear the Moral, Ethical and Legal Responsibility for Loss of Depositors Money
It is the case with all things in Lebanon, and the financial crisis is no exception, we eventually separate into opposing teams, each one hating the other’s view point passionately and each with preconceived notions of their own that they hold as a set of inviolable truths. They face off angrily on talk shows (although not so much now as each TV tends to host guests with compatible viewpoints that match its own), on the streets, in social media, in the Press, and the Press itself, the local Press that is, isn’t shy in joining in the mass cacophony of clashing voices and viewpoints. Today, we see two camps: the “poor banks, we need them, don’t scare them away, we can’t live without them” team, and the “hang ‘em in public squares and close down these criminal banking institutions” team. Each one believes they hold a monopoly on truth, but, as is often the case, they get lost in meaningless minutia and ignore the big picture. Setting aside the fact that the state, the central bank, the