Bankers 'should face up to their responsibilities'
www.moneynews.co.uk > Banking > Bankers 'should face up to their responsibilities'
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Bankers 'should face up to their responsibilities'
Thu 22nd Dec 2011
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John Gapper, author of How To Be a Rogue Trader, said there have been no cases so far of high-profile individuals from the banking sector facing any charges - either civil or criminal - over their conduct in the run-up to the financial meltdown which took place in 2008.
Indeed, the defence many bankers use is that they were unaware of the risks of what they were doing, with many saying their actions were not deliberate, meaning pressing criminal charges could be difficult.
He commented: "But it still raises this question about civil liability. It does seem to me that recklessness should be at least a civil offence."
According to the Guardian, initial reports on the overall cost to the UK taxpayer of the banking crisis stand at around the £124 billion mark, but the true price of the downturn will not be fully known for many years.
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