Saturday, September 27, 2008

Era of greed is over and there will be no more ‘business as usual’, City is warned


Good news, greed has now been banned!

Onésimo Alvarez-Moro

See article:
Ministers must come down hard on the greed and excesses of the City to ensure that markets never return to “business as usual”, the Chief Secretary to the Treasury said yesterday.

Yvette Cooper gave warning that banks could not expect the Government to bail them out without afterwards clamping down on their activities and putting in place more stringent regulation.

“You can’t just have the public sector step in to pick up the pieces and then have the markets go back to business as usual,” she told The Times. “Clearly mistakes were made and there has been greed and excess that’s got to be dealt with. Changes need to be made.”

See full Article.