• The post you are reporting:
   
  Andy - this demonising of the banks really is getting a bit silly and over the top. It was primarily a cover up for Brown who caused the problem by removing the oversight previously provided by the Bank of England. Left to their own devices they were free to place commercial interests first and for a while it did work. Hence Fred the Shred's knighthood, billions of revenue were earned for this country and a mass of tax was paid. The problem is that the banks are vast businesses that are also highly complex and, as a result of a lack of scrutiny, allowed the higher risk end of the businesses to get out of hand leading to the disaster we know about. What is needed is proper scrutiny and appropriate powers to be awarded to the Bank of England to regulate them. All the rest of it, complaints about bonuses and the income of some people in the bank is just a nonsense. OK they are an easy target and politically it makes a good story and soundbite but it is all out of proportion. No Government should ever have the 'right' to cap the earnings of anyone in the private sector, it is not anything to do with them. The banks that the Government owns, well fair enough, but do expect the best talent to go to other banks and as a result the share price may suffer so when the shares are sold the taxpayers will lose out again.

Report Post

Your Name

Reason