Mark Carney's comments show the difficulties that remain across financial services. Despite the efforts made and the reforms introduced by government, trust remains elusive. Markets need trust if they are to operate at all. Without it, they risk failure.

Whilst the leading players in the market believe that the market is operating well, Carney believes that this is not widely shared. That appears to be the feedback from the public (and not just in the UK).

Individual reputations take years to rebuild once they take a hit. The crash of 2008 brought down the reputation of a whole sector.

The more that financial services, and banking in particular, are seen to have 'got away with it', 'not paid the price or 'not paid their fair share' in the eyes of the public then the more likely future intervention is.

It shows that the whole sector still has a long way to go.