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About time. 3 banking execs to be barred from the financial sector

(5 Posts)
NicholasTeakozy Sat 06-Apr-13 09:49:44

For causing HBOS collapse. Get the fuckers in court. Then do the same for the idiots in charge of Northern Rock and Barclays at the time.

CogitoErgoSometimes Sat 06-Apr-13 14:21:46

If they've committed a crime then there should be prosecution. The industry could remove professional qualifications if they've acted unethically or against the code of conduct.... rather like striking off a doctor for malpractice. But if their main failing is incompetence & if another organisation is prepared to employ them, even with their reputation in tatters, I don't think they should be barred from working in finance by a government. Too vindictive.

Earlybird Sat 06-Apr-13 14:25:50

Also authorities should investigate if they have gained monetarily from their activities, and if so, all gains should be returned to their companies and/or the taxpayer.

I'm in America and while some here have gone to jail for their activities, they sometimes emerge a few years later to very nice lives funded by immense $$ 'earned' at their previous jobs.

AndBingoWasHisNameOh Sat 06-Apr-13 14:34:17

At the risk of being pedantic, the commission has asked the regulator to consider it. They have not yet been barred and may not ever be.

AThingInYourLife Sat 06-Apr-13 14:35:38

If you want to work in banking you are subject to regulation that means you can be struck off if your conduct is egregious enough to deserve it.

While the banking industry is bankrolled with public money, it is absolutely right that state regulators should be allowed to bar people from working in our banks.

They can always go and offer their dubious abilities to hedge funds.

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