Who would be in senior management of a bank today? The backlash from chastened regulators threatens to be severe as they try to bring senior individuals to book for their institution's difficulties. The pressure to find scapegoats for the past and examples for the future is strong, encouraged by public sentiment. But is it the right approach simply to attack the bankers?It is no doubt helpful to the politicians and regulators - deflecting criticism from those responsible for setting economic and regulatory policy. Yet one need only look at the National Audit Office report into the handling of Northern Rock in the UK to see that few come out of this episode covered with glory.
April 03, 2009 at 07:03 AM
1 minute read
The original version of this story was published on Legalweek
Who would be in senior management of a bank today? The backlash from chastened regulators threatens to be severe as they try to bring senior individuals to book for their institution’s difficulties.
The pressure to find scapegoats for the past and examples for the future is strong, encouraged by public sentiment. But is it the right approach simply to attack the bankers?
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