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Banking reform 'should be more radical' says Treasury minister Lord Myners - Telegraph

The minister called for a shake-up in shareholders' voting rights and for banks to be forced to reveal the names and pay packages off top-earning staff, even if they are not board members.

He spoke out in a BBC interview to accuse Sir David Walker, who chaired the review into corporate governance of the banking industry, of not being "radical" enough or thinking far enough "out of the box" in his interim report.



Ad astra per aspera
by In Wales (inwales aaat eurotrib.com) on Sat Aug 1st, 2009 at 01:20:43 PM EST
[ Parent ]
the only consolation is that the economy is in such a state that, unless it is properly reformed, the City will destroy us again and again on an almost annual basis until politicians recognise that the something that must be done is actually effective instead of just being good pr cover for inaction.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Sun Aug 2nd, 2009 at 08:07:09 AM EST
[ Parent ]
Markets can stay irrational longer than politicians can begin to aspire to sanity.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Sun Aug 2nd, 2009 at 09:29:18 AM EST
[ Parent ]
Sure, but we're in such a weakened state that the booom crash cycle will be within the lifetime of parliments, let alone politician's careers. So, at some point, they will have to do something cos they will be associated with the failures.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Sun Aug 2nd, 2009 at 09:38:32 AM EST
[ Parent ]
masthead material!

ET motto.

you have aphoristic facility, TBG. that one is up there with Keynes' finest.

a proper pearl of an axiom.

 i can see why your book could be bankable...

~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~

by melo (melometa4(at)gmail.com) on Sun Aug 2nd, 2009 at 09:48:58 AM EST
[ Parent ]
I'd like to take the credit, but the original quote is pithier.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Sun Aug 2nd, 2009 at 10:03:57 AM EST
[ Parent ]
hmm, from where i stand you've taken it a step further, making it more apt even.

~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~
by melo (melometa4(at)gmail.com) on Mon Aug 3rd, 2009 at 03:06:23 AM EST
[ Parent ]

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