• From The BBC:

    It would be “disastrous” for bankers if they returned to their old ways and repeated past mistakes, Chancellor Alistair Darling has warned.As reports suggest a return of the City bonus culture, Mr Darling said some people there were too complacent and needed “to be brought back to Earth”. He told the Independent that ministers would not legislate to cap bonuses. But he said it would give regulators more power to intervene if firms offer rewards that encourage risky behaviour. Taxpayer support”There are people who are too complacent in my view,” Mr Darling said. “Some (banks) are only operating at all because of very substantial support from taxpayers, who are entitled to tell the government we must not repeat the mistakes. “If they go back to the way they were – to business as usual – without asking themselves over and over again whether they understand what they are doing, that would be disastrous for them and the rest of the world.” There are reports that “bonuses are back” is a catc…

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    Posted by Jon @ 2:49 am

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