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Banks receiving huge fines

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    Banks receiving huge fines

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    Last edited by Jeff Maginty; 6 June 2022, 17:42.

    #2
    Originally posted by Jeff Maginty View Post
    Is it not time that the government brought in a new law to make a bank's directors personally liable for any fines incurred by the bank that are due to the way the bank was run?

    When the bank itself is fined, it simply hurts the shareholders, who don't have any say in the running of the firm. Would it not be fairer to fine the directors, since they are the people who had the power to prevent the behaviour that resulted in a fine?
    The company hired the director. They could always sack him or take him to court and sue him.

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      #3
      ..
      Last edited by Jeff Maginty; 6 June 2022, 17:42.

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        #4
        Originally posted by Jeff Maginty View Post
        Is it not time that the government brought in a new law to make a bank's directors personally liable for any fines incurred by the bank that are due to the way the bank was run?

        When the bank itself is fined, it simply hurts the shareholders, who don't have any say in the running of the firm. Would it not be fairer to fine the directors, since they are the people who had the power to prevent the behaviour that resulted in a fine?
        Are you really that naïve?

        The banks own the govt.

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          #5
          ..
          Last edited by Jeff Maginty; 6 June 2022, 17:42.

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            #6
            Can we not get in there first and fine them ourselves? I'd rather UK PLC had £1.2Bn than the yanks.
            Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson

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              #7
              Originally posted by Robinho View Post
              The company hired the director. They could always sack him or take him to court and sue him.
              Quite often its the board, appointed by the shareholders, or at least partially represented by the shareholders who appoint the directors.
              Directors may or may not sit on the board.

              If the shareholders don't like how the company is being run then they should make themselves heard
              Directors bonus/termination/golden handshake remuneration after leaving the post should be made in staggered payments which can easily be stopped if anything comes to light.
              Of course that won't happen cause it's one big club with the same people sitting on various boards getting each other plum jobs in each others companies!
              Coffee's for closers

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