Banking Reform
Posted by Stewart Hosie, MP for Dundee East, at 10:11, Wed 6 February 2013:
TAX PAYERS BAIL OUT MUST NOT HAPPEN AGAIN
Commenting on the news UK banks will be broken up if they fail to follow new rules to ring-fence risky investment, SNP Treasury spokesperson Stewart Hosie MP welcomed the ring-fencing of potentially risky investment banking from high street retail banking.
Speaking after the debate on banking reform, Stewart said: “I am absolutely certain that the tax payer must never again be on the hook for the mistakes made by investment bankers or the regulators who allowed these mistakes to happen.
“It makes sense that the ring-fence must be robust and adhered to, and that banks can be broken up if the ring-fence is breached.”
Comments
If you are subscribed to HearFromYourMP in this constituency,
log in to post a reply.
Otherwise, if you live in the UK,
sign up in order to
HearFromYourMP.
Posted by Samuel Bone, 12:45, Wed 6 February 2013: (Is this post abusive?) #
It seems absurd to me that the people involved in all this mess continously recieve high value salary packages and bonuses. Surley this must be fixed and steps put in place to hold them more accountable for their actions.Even now the executive at RBS who is falling on his sword over the banks behaviour on the "libor" rate fixing scandal is leaving with a huge hand out, almost as good as being a member of parliament who recieve similar hand outs and perks when they go.
Posted by Adam Wilson, 13:25, Wed 6 February 2013: (Is this post abusive?) #
This is the first sensible comment i have heard from the SNP on matters financial.
The capitalist system must be allowed to run free, with the risk of capital loss borne by the investor, not the tax-payer.
If companies or investments fail, let them fail! The stronger will survive, and ensure a robust system with no zombie institutions slowing down the return to growth like we see are witnessing now.