CHANCELLOR of the Exchequer Alistair Darling promised tighter regulation of the financial system as he warned that bankers who return to excessive risk-taking will be "brought back to Earth".
Mr Darling indicated that next week's banking reform White Paper will include new powers for the Bank of England and Financial Services Authority to prevent a repeat of last autumn's meltdown.
Amid signs of the return of the bonus culture in the City of London, he warned that it would be "disastrous" if bankers got the idea that the crisis was now over and they could go back to their old ways.
"There are people who are too complacent in my view," he said. "They need to be brought back to Earth."
Some banks are still operating only because they have been rescued by taxpayers, Mr Darling said.
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article