Angela Knight - Banking Reforms 'must Be Delayed'

[ReadingRabbit]

Apologies if this has been posted.

Plans to reform the banking sector should be put on hold until the economy has recovered and taxpayers have been repaid for bailing out the banks, the head of the British Bankers' Association has said.

Chief executive Angela Knight argued that now was not the right time to add to the sector's regulatory burden.

Her comments come a fortnight before the Independent Commission on Banking (ICB) is due to publish its final recommendations on how to increase stability and competition in UK banking.

The Independent newspaper reported that Ms Knight believed markets and economies were more fragile than when the ICB published its interim report in April and that imposing reforms on lenders risked denting confidence and cutting the supply of credit to the economy.

Full news can be found at : http://uk.news.yahoo.com/banking-reforms-must-delayed-134524145.html

[R K]

Anybody know how much she gets paid, what her pension's like and what bonuses she's taken defending other bankers being overpaid, taking rock solid pensions and paying themselves bonuses underwritten by everyone else?

[Errol]

Suicide Bankers.

[MrFlibble]

Everything is so fragile that nothing dare be touched, except for the bonus pool and bankster looting that is stronger than ever.

Sooner or later even Joe Sixpack is going to figure out that he's been had...

[copydude]

'If they're broke, don't fix them'

[Redcellar]

Chief executive Angela Knight argued that now was not the right time to add to the sector's regulatory burden.

Oh well, better not make them behave then. Let's just put ourselves back in the position of 2008.

Now where's my wallet so I can pay her salary and bonus.

[scrappycocco]

Put on hold lol, rbs can't survive without tax payer help can it?

[Si1]

corporatist non-jobbers, be they corporatist NHS troughing middle managers, council senior management, or city bankers, are all so concerned abotu everyone elses' wellbeing aren't they?

surely they would all admit that the economy would benefit if they worked for a hell of a lot less money, or maybe for free for a few years?

either that or they're big fat liars

[alexw]

Right, so the group that is causing the current economic crisis via perpetual looting of the economy is saying 'don't stop us if you do the economy will collapse'.

???

I'm baffled by her logic.

[Democorruptcy]

Why don't they just save time and have a fixed percent of wages paid to banks?

Why bother with the pretence?

[ScrewsNutsandBolts]

Anybody know how much she gets paid, what her pension's like and what bonuses she's taken defending other bankers being overpaid, taking rock solid pensions and paying themselves bonuses underwritten by everyone else?

Would be interesting to know... and she's certainly not shy of topping it up with the odd non-exec directorship

http://www.brewindolphinholdings.co.uk/~/media/Files/B/Brewin-Dolphin/pdf/reports/ar-2010.pdf?

34,000 a year for probably no more than a dozen meetings.

Nice work if you can get it

Edit... add to that another 50,000 or thereabouts for half a dozen meetings on the remuneration committee of LogicaCMG.

Edited August 29, 2011 by ScrewsNutsandBolts

[erranta]

Apologies if this has been posted.

Plans to reform the banking sector should be put on hold until the economy has recovered and taxpayers have been repaid for bailing out the banks, the head of the British Bankers' Association has said.

Chief executive Angela Knight argued that now was not the right time to add to the sector's regulatory burden.

Her comments come a fortnight before the Independent Commission on Banking (ICB) is due to publish its final recommendations on how to increase stability and competition in UK banking.

The Independent newspaper reported that Ms Knight believed markets and economies were more fragile than when the ICB published its interim report in April and that imposing reforms on lenders risked denting confidence and cutting the supply of credit to the economy.

Full news can be found at : http://uk.news.yahoo...-134524145.html

The Bankers promised Brown + Labour "The World" in Tax receipts if he completely deregulated The City.

'They' ie broth, ended up trashing the UK and bankrupting themselves - causing Millions to be made jobless and 10's thousands of business closures.

[wonderpup]

OK- how about a nice airline analogy:

Greedy F*cking Bastards Airline (GFB ) completely screwed up the maintenance of their aircraft- as a result their planes began dropping from the sky killing hundreds of their passengers and innocent members of the public on the ground.

This had the not surprising effect of destroying GFB's profitability- (though the CEO and executives contined to receive performance related bonus's- naturally)

There was also the knock on effect that air travel from the UK was seriosly disrupted.

After a period of inquiry new regulations were devised to protect the public in future, regulations that would cost GFB money (and might even limit their ability to continue paying bonus's. )

However, before these new regulations can be put in place GFB begin lobbying against their implementation.

When asked why, their spokeswoman Angela I'm-alright said " Now was not the right time to add to the sector's regulatory burden, as it might slow down the recovery of the air travel sector"

[SleepyHead]

OK- how about a nice airline analogy:

Greedy F*cking Bastards Airline (GFB ) completely screwed up the maintenance of their aircraft- as a result their planes began dropping from the sky killing hundreds of their passengers and innocent members of the public on the ground.

This had the not surprising effect of destroying GFB's profitability- (though the CEO and executives contined to receive performance related bonus's- naturally)

There was also the knock on effect that air travel from the UK was seriosly disrupted.

After a period of inquiry new regulations were devised to protect the public in future, regulations that would cost GFB money (and might even limit their ability to continue paying bonus's. )

However, before these new regulations can be put in place GFB begin lobbying against their implementation.

When asked why, their spokeswoman Angela I'm-alright said " Now was not the right time to add to the sector's regulatory burden, as it might slow down the recovery of the air travel sector"

Great post!

[OnlyMe]

OK- how about a nice airline analogy:

Greedy F*cking Bastards Airline (GFB ) completely screwed up the maintenance of their aircraft- as a result their planes began dropping from the sky killing hundreds of their passengers and innocent members of the public on the ground.

This had the not surprising effect of destroying GFB's profitability- (though the CEO and executives contined to receive performance related bonus's- naturally)

There was also the knock on effect that air travel from the UK was seriosly disrupted.

After a period of inquiry new regulations were devised to protect the public in future, regulations that would cost GFB money (and might even limit their ability to continue paying bonus's. )

However, before these new regulations can be put in place GFB begin lobbying against their implementation.

When asked why, their spokeswoman Angela I'm-alright said " Now was not the right time to add to the sector's regulatory burden, as it might slow down the recovery of the air travel sector"

That's the difference between an industry and a bunch of irresponsible, greedy crooks. Accountaility and responsibility, both totally lacking in the banking cartel.

[tinker]

You get the impression this won't stop until the banking elite and political classes have completely nuked (figuratively speaking) the country (world). Let's hope for their sakes they have a nice place to retire to with all their filthy lucre.

It's staggering. Third world corruption, no that would be an insult to the third world.

['Bart']

Plans to reform the banking sector should be put on hold until the economy has recovered and taxpayers have been repaid for bailing out the banks

MENTAL NOTE: Must check the weather forecast for Hades.

[Shrink Proof]

Angela Knight....

zombie....

But you never see them together at the same time, do you?

[FreeTrader]

Pressure from the cartel increases as publication of the final ICB report approaches:

Banking reform now 'barking mad'

Darkening clouds over the UK economy mean the Government would be "barking mad" to press ahead with proposals to reform the banking industry, the director general of the CBI business lobby group has said.

...

Mr Cridland said: "Taking action at this moment - this moment of growth peril, which weakens the ability of banks in Britain to provide the finance that businesses need to grow - is just to me barking mad."

Press Association

With his unmatched experience of building and operating a major UK business, the Independent Commission on Banking would do well to heed Mr Cridland's words.

As director-general of the CBI, John Cridland is the key spokesman for the business community in the media, on public platforms and with government. He leads the CBI – the voice of business – in the UK and represents it internationally.

John was educated at Boston Grammar School and has an MA in history from Christ’s College Cambridge. He joined the CBI as a policy adviser in 1982 and has been director of environmental affairs and of human resources policy. John was deputy director-general from 2000 to 2010.

CBI

[R K]

Fully nationalise Lloyds and RBS first then it's irrelevant.

Nobody cares what fate awaits Barclays and HSBC can b*gger off to Hong Kong and let their taxpayers foot the bill. No loss.

Osborne needs to get the bloodletting over with. If he pulled his head out of his ar5e it could actually be quite a coup for him politically.

Combine it with an announcement of a public enquiry into the alleged frauds at HBOS and the FSA cover up and we might actually start to make some progress.

Either the Bullingdon Boys work for the banking cartel or they work for the electorate. There is no middle ground.

[copydude]

Mr Cridland said: " this moment of growth peril "

Oh the melodrama.

[Timm]

Sharks call for end to shark net plans.

[grey shark]

Look to her right and there's MSE's Martin Lewis listening to the bankers bitch's verbal shyte ....

[Injin]

Fully nationalise Lloyds and RBS first then it's irrelevant.

Nobody cares what fate awaits Barclays and HSBC can b*gger off to Hong Kong and let their taxpayers foot the bill. No loss.

Osborne needs to get the bloodletting over with. If he pulled his head out of his ar5e it could actually be quite a coup for him politically.

Combine it with an announcement of a public enquiry into the alleged frauds at HBOS and the FSA cover up and we might actually start to make some progress.

Either the Bullingdon Boys work for the banking cartel or they work for the electorate. There is no middle ground.

The whole political class work for the banking cartel.

They always have and they always will.

[scepticus]

Fully nationalise Lloyds and RBS first then it's irrelevant.

While I agree with the rest of your statement I'm not sure about this. I feel that hyperinflations tend to occur when the private sector is very lightly indebted in real terms compared to the government.

Better to leave banking debts in the private sector as much as possible and increase FSCS premiums as required to reflect the risk of the banks.