http://www.bbc.co.uk/news/business-22954586
Quote:
Senior bankers guilty of reckless misconduct should be jailed, a long-awaited report on banking commissioned by the government has recommended.
The Parliamentary Commission on Banking Standards was set up by Chancellor George Osborne last year after a number of scandals involving the industry.
The cross-party group's fifth report attacked the lack of accountability of bankers and also said some bonuses should be withheld for up to 10 years.
The 571-page report also called on the government to review alternatives for selling off the Royal Bank of Scotland (RBS), including breaking it up, and demanded action to make the banking market more competitive.
"Too many bankers, especially at the most senior levels, have operated in an environment with insufficient personal responsibility," the report says.
"Senior executives were aware that they would not be punished for what they could not see and promptly donned the blindfolds.
"Where they could not claim ignorance, they fell back on the claim that everyone was party to a decision, so that no individual could be held squarely to blame - the Murder on the Orient Express defence."
Liberal Democrat peer Lord Oakeshott, who backed the committee's findings, said: "Why are there no banged-up bankers? That's what most people want to know after the last five years of scandals and shame."
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Yeah, no mercy for merchants, bang up the bankers .....
