Saturday, January 02, 2016
This year it seems that Christmas came late for the banking industry, with the news - snuck out in the run-up to New Year's Eve - that there will be no formal Financial Conduct Authority inquiry into culture, pay and behaviour in the sector. The decision, which no doubt pleased George Osborne and chums as well as the banks, has been described as a potentially "dangerous and costly mistake" by shadow chancellor John McDonnell. Don't know what he's fretting about myself - after all, no harm has come of leaving the bankers to regulate their own conduct in the past, has it?
Posted by Ben at 11:30 AM