Wednesday 22 May, 2013
THE CHIEF EXECUTIVE of Barclay’s Bank, Bob Diamond, has declared the period of remorse and apology for bankers over.
He says banks now need to be left alone to make profits and allow the economy to return to growth.
Does he have a point? Should we stop looking for apologies and starting looking for ways to move on?
Have your say: is the period of remorse and apology over?
Poll Results:
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I don’t believe there has been nearly enough bloodletting and certainly we need to see some indictments handed down or some form of sanction preventing the people in authority in these institutions from continuing in positions of responsibility again. No clear message that their behaviour is unacceptable and will not be allowed to recur has been forthcoming.
I dont think people can move on until somebody is seen to be punished for what happened. If anything people are becoming more infuriated by a certain group who are almost taunting us with their indifference to what has happened and their roll in it.
It has taken far to long for people to be held to account for what they have done. That does not mead the process should be abandoned. Other counries are dealing with the problem or have delt with the problem and can now move on. It is amazing that Anglo, a company that is owned by the government, is holding up investigations into its former activities.
A lot of this banker bashing is a bit too Irish. People are more interesting in registering their disapproval in cheap emotional outbursts rather that constructive and profitable reform based actions.
The bankers might be sons of bitches, but since we nationalised their employers, they’re now our sons of bitches. Rather than endlessly and gratuitously insulting and punitively taxing them, put them to work making money for the state. You can’t pay your bills with sentiment.
Jim
its not hanging the people in banks its all about trying to find out who is responcable and more important can we get the money back. it seems to me they knew this was going to happen and had a free for all with the money and now everyone is paying the price.
I’ll tell you whose responsible….
A) The Government for not keeping an eye on things and a lack of policy direction
B) The Financial Regulator for not doing as they should have
C) Bank shareholders for encouraging the banks to make more profit and therefore take more risk
D) Anglo, Inbs and Foreign banks for taking stupid risks and not pricing same accordingly
E) The other banks for following D)
F) Individuals for not taking a prudent approach to debt
A good way to show some remorse would be to ease the burden of debts by reducing the interest on credit cards to a minimum for at least a couple of years to help people get rid of toxic cards and restore their buying power. It would help everyone.
The fact that they start paying bonuses again is repulsive.
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