Labour are demanding that bankers be prosecuted under criminal law for their actions…..unfortunately because of a failure to impose and implement sufficiently rigorous regulations on banks by Ed Balls when he was in charge of this sector the banks cannot be charged under criminal law….because the laws don’t exist, as admitted by one of Labour’s very own Lord’s…..and, as yet, completely ignored by the BBC.
The BBC does ask:
‘Who was responsible?’ for the Banks actions. The answer……
Mr Cameron said “the whole management team have got some serious questions to answer. Let them answer those questions first.
“Who was responsible? Who was going to take responsibility? How are they being held accountable?”
Labour party leader, Ed Miliband, said: “This cannot be about a slap on the wrist.
“The people that have done the wrong thing in this case should face the full force of the law… including criminal prosecutions.”
No sign of this part of the story on the BBC for some reason:
Barclays Libor scandal: Ed Balls ‘failed to regulate banks’
Ed Balls has been accused of failing to regulate banks effectively at the time of the Barclays rate rigging scandal as a senior Labour politician admitted: “It’s our fault”.
In the House of Lords, Labour’s deputy chief whip, Lord Tunnicliffe, admitted his party was responsible for gaps in the law.
Lord Tunnicliffe said: “Criminal sanctions are extraordinarily difficult to bring about because of the burden of criminal law.
“It is fair to say though that you can’t find them in the current legislation. And, yes, OK, it’s our fault.” He added quickly: “I hope my leaders don’t hear me say that.”