Take You Own Medicine!

"Irresponsible bankers who take unacceptable risks or mis-sell products to customers should be barred from the profession, Ed Miliband has said. The Labour leader demanded tough new rules allowing regulators to "strike off" reckless City staff in the same way negligent midwives and doctors can be ruled unfit for practice. He said: "Banking should be a trusted profession. Other professions - such as medicine and the law - have codes of conduct and disciplinary rules.

"Bankers should be held to account to ensure they act with integrity, in the best interests of their customers, and in the best interests of the wider public."

The Government launched the ICB, chaired by Sir John Vickers, last year to find ways of avoiding another banking crisis and taxpayer bailout. Mr Miliband's call came ahead of Monday's publication of the Independent Commission on Banking's (ICB) final report which will make recommendations on how to prevent another banking crisis.

Mr Miliband said: "It is crucial we learn the right lessons from the financial crisis as we seek to ensure it does not happen again and build a different kind of economy that will meet the big challenges of the future. We should never have to bail the banks out again. To guarantee that we need the serious and lasting reform."

Adapted from Yahoo News / Press Association Here

So Ed wants irresponsible bankers who take risks struck off huh? Perhaps he should start with himself then! Those in Government, who clearly everyday take irresponsible risks with our lives, by his yardstick shouldn't be allowed to continue.

But then we all know it isn't the bankers or the state who are entirely to blame, although they are complicit - it is the system that creates the crisis and conditions under which we all suffer. Ed got it right in the last paragraph when he said "It is crucial we learn the right lessons from the financial crisis..." - well we have: it is that capitalism doesn't work! And to continue his line of thought "...we need serious and lasting reform." - we have that covered to: its called Socialism! Perhaps we can send Ed a copy of the Socialist Standard for some pointers as to where he is going wrong.....

SussexSocialist