Jailing Barclays bankers won’t save us from another financial crash | Joris Luyendijk
by Joris Luyendijk from on (#2TS4T)
Nine years after the global economy almost imploded, bankers are finally in the dock. But we are still at great risk of a banking calamity
If you had told people in the City at the height of the financial crash in 2008 that it would take almost nine years for the first top bankers to face prosecution, few would have believed you. If you had then said that this first prosecution would relate to suspected fraud over one bank's supposed attempt to avoid nationalisation - rather than the crash itself - the bankers involved in the crisis would have laughed in disbelief: surely, they aren't going to let us get away with that?
Related: Senior Barclays bankers charged with fraud over credit crunch fundraising
There was too little political capital and almost no political will to break up the banks and make them simple again
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