Treasury select committee summons nine UK bankers
The powerful Treasury select committee has issued summonses to 9 of the U.K.'s former leading bankers as they attempt to get to the bottom of the reasons why the UK financial system went into meltdown. Those in attendance include Sir Fred Goodwin, Sir Tom McKillop, Andy Hornby, Lord Stevenson of Coddenham, Stephen Hester, Eric Daniels, John Varley, Paul Thurston and Antonio Horta-Osorio.
All of the above banking figures are expected to be called over the coming weeks to give evidence in front of the committee and no doubt receive a grilling from the committee members. These are the same MPs who gave Mervyn King of the Bank of England a seriously difficult time in light of the Northern Rock debacle and the nine bankers set to attend in the future can expect much of the same.
The committee itself has attracted much controversy with cries of political bias and political points scoring in past investigations. However, there is no doubt that the committee has an interesting habit of getting to the bottom of issues due in the main to the power it holds and the ability to call expert witnesses. This forthcoming review of the banking sector has the potential to seriously embarrass both the UK government and some of the leading figures in the UK banking sector, although UK taxpayers will no doubt await the outcome with bated breath.
Share this..
Related stories
Does size matter in the UK retail sector?
With news that JD Sports may potentially look to merge with JJB Sports, many are starting to ask whether size matters on the UK high street in an attempt to secure safety in the medium to longer term. There seems to be a general misconception that it is only the smaller companies which are suffering when we have seen the likes of MFI, Woolworths and other major players in the UK high-street inform...
Read MoreIs the internet your way out of financial trouble?
While the internet has changed so many areas of our every day lives it has also opened up a mass of opportunities which many people have yet to realise. However, with the recession starting to bite in the UK it seems as though now may be a perfect time to take a look at possible options open to you.
People seem to miss the point that the internet has not only opened up local market...
Should you transfer your child’s CTF to a Junior ISA?
27/03/2015 If your child was born between 1st September 2002 and the 2nd January 2011, they will most likely have a Child Trust Fund, even if you are unaware of it.
What is a Child Trust Fund?
A Child Trust Fund, or CTF, is a long term, tax free savings account for children. They were introduced by Tony Blair’s Labour administration in 2002, and gave every child in Brita...
Read MoreRetirement is even further away for 1.85 million people in the UK
A report by annuity provider MGM Advantage has revealed the startling fact that 1.85 million people in the UK will be delaying their retirement dates and working on into later life. It seems that pension arrangements currently in place for many of those reaching retirement age in the UK will pay out significantly less than had been hoped and ultimately many people will be struggling to make ends m...
Read MoreDid environmental issues cause the Heathrow Crash?
While it was a lucky escape for all passengers on board, the emergency landing experienced by passengers aboard a British Airways Boeing 777 at Heathrow earlier this year may have been caused by recent changes in flying regulations, aimed at helping the environment.
Even though the investigators into the crash - which saw the plane glide into land for the final minute of flying ti...