Wednesday 25 February 2009

Brown told us not to question banks on risky practices, says City watchdog

Daily Mail
"In damning evidence to the Treasury select committee, Financial Services Authority chairman Lord Turner said there was clear 'political' pressure not to question the business models of banks such as Northern Rock, HBOS and Bradford and Bingley.
....In spite of the disastrous state to which the banking system has been consigned, the FSA also announced today that it would be paying out £21 million in bonuses to staff. Chief executive Hector Sants told the committee that each employee would get between £7,000 and £8,000."

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