Via Express.co.uk – Make the bankers personally liable for risks they take, Stephen Pollard backs my bill to make bankers responsible for their own actions:
This isn’t capitalism – it is taxpayer-guaranteed gambling. It is basic human nature that only when people are held responsible for their actions do they act responsibly.
The flawed behaviour of those behind this latest scandal – the greed, the lying and the warped idea of entrepreneurialism – is hardly new. A working banking system should be able to cope with, and reject, such behaviour – not reward it.
The central problem with banks has been that employees are truly irresponsible. The consequences go only one way.
Stephen finishes with an endorsement of my proposed Bill.