McFall attacks traders
Thursday 26 July 2012
One of the leading figures on the new committee of MPs and peers which is examining the banking sector has said the City traders behind the Libor and other scandals should be treated as no better than street drug dealers.
Lord John McFall of Alcuith, formerly chairman of the Treasury Select Committee, made it clear that he will be examining a radical change of City regulations when the new body leads a major review into the sector.
He wrote on the Labour party's website: "Given that there appears to be more serious crime and misdemeanours taking place within the walls of some of our financial institutions presently than there is in our town centres at weekends, maybe one initiative ready for implementation should be a financial police service, separate from the City of London police."
He added: "Perhaps it is time to start treating the dealer on the trading floor engaged in these illegal activities with the same contempt as the dealer on the street."
- 1 James Foley 'beheaded': Isis video shows militant with British accent 'execute US journalist' – and warns Obama of more to come
- 2 ALS ice bucket challenge co-founder Corey Griffin drowns aged 27
- 3 Cilla Black defends Cliff Richard: 'I am positive that the allegations are without foundation'
- 4 Nicki Minaj finally releases predictable 'Anaconda' video
- 5 James Foley 'beheading': Met police warn public watching murder video could be criminal offence
James Foley 'beheaded': PM cuts holiday short for emergency meeting on British response to latest Isis atrocity
Michael Brown shooting: Police shoot and kill second young black man near Ferguson
ALS ice bucket challenge co-founder Corey Griffin drowns aged 27
James Foley 'beheaded': Isis video shows militant with British accent 'execute US journalist' – and warns Obama of more to come
Iraq crisis: Islamic State's message to America - 'We will drown you all in blood'
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Isis threat: Cameron wants an alliance with Iran
Crisis? What crisis? A visiting US doctor gives the NHS a rave review
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
Scottish Independence Referendum: Salmond described as 'arrogant, ambitious and dishonest' by Scottish women
Richard Dawkins on babies with Down Syndrome: 'Abort it and try again. It would be immoral to bring it into the world'
iJobs Money & Business
£45000 per annum: Harrington Starr: Quantitative Analyst (Financial Services, ...
Negotiable: Harrington Starr: Application Support Engineer (C++, .NET, VB, Per...
£450 - £600 per day: Harrington Starr: AIFMD Business Analyst / Consultant - I...
£450 - £600 per day: Harrington Starr: Business Analyst Solvency II SME (Pilla...