Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Banking Reform

Part of Business of the House – in the House of Commons at 1:18 pm on 17th June 2010.

Alert me about debates like this

Photo of Michael Meacher Michael Meacher Labour, Oldham West and Royton 1:18 pm, 17th June 2010

Since the direct causes of the financial crash were colossal bonuses that drove recklessness, the use of fancy structured investment vehicles including sub-prime mortgages, the conflict of interest whereby credit rating agencies and auditing companies are paid by the company that they are supposed to be assessing and, above all, the overly lax culture of light-touch regulation, what precise, specific mechanisms is the Financial Secretary putting in place to deal with each of those underlying problems as opposed to merely shifting around the institutional infrastructure, which is all he appears to be doing?

Embed this video

Copy and paste this code on your website