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Is the British Banking Industry a 'Lawless Cesspit?'

Tuesday, 17 Jul 2012 | 4:10 AM ET

"There is a real confluence of events here, the British banks are getting repeatedly nailed by the US authorities this month, there is a risk here that the US authorities, whether it is lawmakers or regulators start to perceive the British banking industry as a lawless cesspit," David Enrich, European banking editor at the Wall Street Journal, told CNBC.