Finantial Institutions (reform) bill.

[justicar5]

This year Steve Baker MP (Conservative) Entered into the house this bill:

http://www.stevebaker.info/campaigns...-reform-bill/#

A Bill to make bankers bear their own commercial risks

On Wednesday 29 February 2012, following PMQs and any statements, Steve Baker MP will introduce a Bill to:

• enforce strict liability on directors of financial institutions
• enforce unlimited personal liability on directors of financial institutions
• require directors of financial institutions to post personal bonds as additional bank capital
• require personal bonds and bonuses to be treated as additional bank capital
• make provision for the insolvency of financial institutions
• establish a financial crimes investigation unit

The purpose of this Bill is to minimise moral hazard within the financial system by ensuring that those who take risks are held personally liable for the consequences. Since rules can usually be gamed by financial institutions, a principle underlying this Bill is to minimise scope for evasion.

It hasn't passed into law, and most likely wont, but it is that miraculous thing, a law suggested by a conservative I could support. What are other peoples thoughts on this?

[Caelifer_1991]

Would be nice, if only it would get voted in.

[removeduser_4536284751384]

Would be nice, if only it would get voted in.

• enforce unlimited personal liability on directors of financial institutions

nice? Nuts more like.

[justicar5]

• enforce unlimited personal liability on directors of financial institutions

nice? Nuts more like.

the Rothschild's to name but one got rich in a system that worked that way.

[Caelifer_1991]

5/6 ain't bad. Better than most Conservative proposals anyway

[Denny Crane!]

• enforce unlimited personal liability on directors of financial institutions

nice? Nuts more like.

You prefer the taxpayers pay all the bills. Typical.

5/6 ain't bad. Better than most Conservative proposals anyway

In this country it is the "left" that blocks most of the moves to act responsibly.

[Caelifer_1991]

In this country it is the "left" that blocks most of the moves to act responsibly

I'd discuss every possible move to act responsibly in our history but I cba to write an essay over the next 5 or 6 pages of this thread. Long story short though, I disagree.