And heads need to roll. Whole rafts of senior bankers need to leave the industry: their mentality is corrupt and has to be swept away. There will be decent people who can take their places: have no doubt about it. But it will take leadership from a new type of non-exec director dedicated ti making banking work again that will let this happen. Again, I think such people exist; they’re just the outsiders now. The farce that the Coop was told recently that its board was not suitable to run a bank because it was not made up of bankers has to go: it’s precisely because people are not bankes that they may be suited to their new roles of making sure banks are clean, although competence will also be important too, of course.
Given what we\’re hearing about the Co Op Bank currently.
So\’s this amusing:
Disclosure: I bank with the Cooperative Bank. I have advised them on tax issues.