Those who caused the financial crisis still haven’t been held to account | Letter

Susan Hawley of Corruption Watch and Rachel Teka Davies of Transparency International UK say banks will act with impunity until our corporate liability laws are changed

Alex Bailin's article (Gordon Brown is wrong to say British banking is still a free-for-all, 16 September) is extraordinarily complacent. The fact is that the UK's record on prosecuting the wrongdoing behind the financial crisis is extremely poor, with no senior executives charged (only lower-level employees) and no bank successfully prosecuted. Just in May this year, a judge dismissed charges in the only prosecution ever brought against a bank for financial-crisis wrongdoing. The arcane corporate liability rules in this country make it impossible to prosecute large financial institutions. Until the government brings forward legislation to change the law and replace those rules, banks will continue to operate with impunity in the UK.
Susan Hawley Policy director, Corruption Watch
Rachel Teka Davies Head of advocacy, Transparency International UK

" Join the debate - email guardian.letters@theguardian.com

Continue reading...