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Bankers' deals could be 'torn up'

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Bankers' deals could be 'torn up'

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pcernie

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Joined: Sun Apr 26, 2009 12:30 pm
Posts: 45931
Location: Belfast

Bankers' deals could be 'torn up'

http://news.bbc.co.uk/1/hi/uk_politics/8361015.stm


	Quote: Alistair Darling has said the Financial Services Authority will be given powers to "tear up" bankers' contracts if pay deals reward unnecessary risk-taking. The Chancellor told The Sunday Telegraph bankers had to see themselves as "fellow citizens" who had been bailed out by the taxpayer. The culture should change, with no rewards for practices which had brought the banking system down, he said.

Tearing up a contract just because it doesn't suit politically anymore is a disgrace, and if this is the way we're gonna go about it, the PFI schemes are gonna fall down all around the Conservatives soon enough. Except that's unlikely, as the PFI schemes involve schools, hospitals...

And how many times have we effectively bailed those out? :roll:

The 'no rewards for practices which had brought the banking system down' bit is priceless, as there's obviously been plenty of rewards elsewhere :evil:

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Sun Nov 15, 2009 10:42 am

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