[P2P-F] Fw: Banking

Sat Apr 13 12:41:51 CEST 2013

----- Forwarded Message -----
From: Becky Jarvis - 38 Degrees <action at 38degrees.org.uk>
To: dharao4 at yahoo.co.uk 
Sent: Friday, 12 April 2013, 17:25
Subject: Banking

Dear friend,

It was a “colossal failure” of management. The trio of top bankers to blame for the collapse of HBOS were “reckless” and “deluded”. Lots of us have been thinking along these lines for years - and now, a parliamentary commission has taken the words right out of our mouths. [1]

The MPs and Lords on the commission have singled out Lord Stevenson, Sir James Crosby and Andy Hornby as the ex-bosses responsible. And since the news broke, it just keeps getting worse and worse. Today we even found out they’re still being awarded “bonuses for going bust”. [2]

The banking regulator has the power to stop these men working in finance again, but they’ll be coming under pressure not to make a fuss from powerful banking lobbyists. But together, we can show them that taxpayers, who own a staggering 41% of HBOS, want these bankers to face a City ban.

Sign the petition now:
https://secure.38degrees.org.uk/page/m/74c04e40/2d40752f/5f7bb50f/46657e0f/2938494848/VEsE/

MPs and Lords have said that these ex-bosses “should be barred” from the City. The regulator is feeling the heat, but so far they’ve not made a move. We can intensify the pressure they’re under to make the decision fast. Together, we have the people power to make the regulator squirm. [3]

All of us paid to bail out the banks. And many of us are feeling the pain. Let’s make sure that these super-rich City boys are properly held to account for their failings.

The three bankers at the heart of HBOS’ collapse are only the tip of the iceberg of our broken banking system. 38 Degrees members will continue to work together to clean up the banks for good. We know it’s possible. [4] Let’s make sure we don’t let these ex-bosses get away with it.

Sign the petition today:
https://secure.38degrees.org.uk/page/m/74c04e40/2d40752f/5f7bb50f/46657e0f/2938494848/VEsF/

Thanks for being involved,

Becky, Rebecca, Susannah and the 38 Degrees team

NOTES
[1] BBC News, HBOS collapse: Ex-bosses face calls for City bans:
http://www.bbc.co.uk/news/business-22027664
The Telegraph, HBOS: Former bosses should be banned from financial sector, says commission:
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9972823/HBOS-former-bosses-should-be-banned-from-financial-sector-says-commission.html
[2] The Guardian, MPs demand inquiry into HBOS directors’ ‘bonuses for going bust’:
http://www.guardian.co.uk/business/2013/apr/11/mps-inquiry-hbos-directors-bonuses
[3] The Guardian, James Crosby to give up knighthood and 30% of pension:
http://www.guardian.co.uk/business/2013/apr/09/james-crosby-give-up-knighthood-pension
[4] The Independent, Worse than Fred Goodwin! The verdict on the bank bosses who presided over the £40bn collapse of HBOS:
http://www.independent.co.uk/news/uk/politics/worse-than-fred-goodwin-the-verdict-on-the-bank-bosses-who-presided-over-the-40bn-collapse-of-hbos-8560952.html
[5] NEF report into better banking structures in other countries:
http://www.neweconomics.org/publications/stakeholder-banks  

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