Treasury probes bank management

[Legal Beagles]

The Treasury is to launch a full independent probe into how banks are managed, chancellor Alistair Darling says.

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[righty]

What! you mean they don't already know & these people are running the country

More spin 'lets do nothing by doing something that makes us look like we are doing something, lets have a review or better still lets have an inquiry'

[borgbaiter]

Re: Treasury probes bank management

bonuses are an employment contractual fact. if they dont get paid them they will take the matter to court to get their bonuses. other than changing the law there seems little can be done to stop the bonuses being paid. however i see nothing contractual about dismissal for gross misconduct. if they want the job back then new contracts would need to be negotiated.

i dont see any political will to make any new laws, even if there was it wouldnt be supported cross party as everyones happy blaiming everyone else.

in all probablitilty the story will become stale and just disappear. nothing will change.


Borgbaiter

[righty]

Re: Treasury probes bank management

I would remind you that despite what their employment contract states they have a fiduciary duty to the shareholders if not the customers.

I think we can say without fear of contradiction in that they have failed miserably. Therefore there are IMHO strong grounds to void any such agreement.

[borgbaiter]

Re: Treasury probes bank management

i welcome anything that means they cant get their bonuses.


Borgbaiter