Bankers’ Bonuses and the Banking Industry – Richard Fuller MP sticks the boot in as prelude to defecting to the Green Party?

 

Richard Fuller spoke in the commons today.

It was: Opposition Day — [18th Allotted Day] – in the House of Commons at 1:21 pm on 25th February 2015. The link follows.

http://www.theyworkforyou.com/debates/?id=2015-02-25a.334.1&s=speaker%3A24787#g335.6

The first of his 3 interventions was a very gentlemanly attempt to help Cathy Jamieson,  Shadow Minister (Treasury).

Cathy Jamieson Shadow Minister (Treasury)

Cathy Jamieson
Cathy Jamieson

I am now becoming a bit confused about what Conservative Members are arguing for here. Do they want more or less regulation? [Interruption.] Did I hear someone say both? The important issue here is to ensure that regulation is fit for purpose, and that we do not simply have more of the same when we talk about new entrants into the banking system.”

Richard Fuller Conservative, Bedford

Richard Fuller looking a dapper chap at work.
Richard Fuller looking a dapper chap at work.

Let me help to clarify the matter for the hon. Lady. The point that she was trying to make is that having an enormous amount of regulation can be ineffective and bureaucratic, but, equally, having too little regulation will not work. What we need is effective regulation. One of the most effective aspects of regulation, when it comes to changing behaviour, is the potential for criminal prosecution of those who do wrong. That is not mentioned in her motion. Will she address that during her speech?”

Not sure what Mr Fuller is up to here, trying to get bankers sent to jail is a laudable aim. Maybe he is trying to win me over. His voting record is strongly in favour of Banker Bonus. Maybe it has been a ploy to get them in jail. Cathy duly thanks Richard and the debate moves on,

Cathy Jamieson Shadow Minister (Treasury)

I thank the hon. Gentleman for giving some clarity. He is absolutely right that regulation is part of the process, but we also need a culture change and an attitudinal change. He is correct to identify the lack of prosecutions. Although that is not mentioned specifically in the motion, I recommend that he reads Labour’s document, which takes account of that point.”

(I wonder if Richard is at home reading Labour’s document as I write this?)

Later in the debate we hear:

Richard Fuller Conservative, Bedford

Will the hon. Lady give way?”

Cathy is having none of it. Unable to tell Richard to “Fuck off mate, I’m on a roll”, she replies:

Cathy Jamieson Shadow Minister (Treasury)

“No, I am going to finish this point because it answers a number of questions that hon. Members have put.”

In The House, I think this is tantamount to, “Fuck off”.

The debate moves on and Richard gets in for a third time;

Richard Fuller Conservative, Bedford

My hon. Friend is now stressing one point that the everyday people feel is most important about the reform of our banking system—that when bankers do wrong, they should face criminal prosecution and the prospect of jail. Is she satisfied that we now have the right measures in place—measures that the last Government did not put in place—and will she assure the House that she will ensure that the Government use all their powers to enforce the regulations as far as possible?”

He seems to be interrupting his Honourable Friend, Andre Leadsom, The Economic Secretary to the Treasury no less.

Before Richard’s timely interruption Andrea had been saying, “Some bankers have been sacked”.  But obviously Richard has been listening to me and wants the blighter’s behind bars. Just for the record I am “everyday people” in this exchange. I used to be, “Hard working (family)”, so I think I may have gone down in the pecking order slightly. I’ll have to have words about that. But it’s better than what Gove used to call me, “The enemy of promise”.

Andrea Leadsom The Economic Secretary to the Treasury

That is an important point. This Government have taken every step we can think of to ensure accountability,

Andrea Leadsom, something at the treasury
Andrea Leadsom, something at the treasury

prevent future wrongdoing and improve standards in banking. We are always open to new suggestions, but it is our genuine belief that we have fundamentally changed the underlying systems that banks work with. I can certainly reassure my hon. Friend that when I speak to the chief executives of banks, as I do regularly, they assure me that they, too, take the matter extremely seriously and have put in place checks so that they can identify wrongdoing and punish the offenders under their own steam, as hon. Members will have seen in the press today.”

As you can see Andrea thinks this is an important point. And when she speaks to bankers they think it’s important too. And “as we have read in the press today” all this wrong doing is going to get sorted out. Those cheeky blighter’s are going to get what’s coming to them. Oh yes, a fucking great big massive banker’s bonus. But it seems if Richard get’s his way they are going to jail. You are playing games aren’t you Richard?

PS Andrea, that bit where you said, “We are always open to new suggestions”, well here’s one, why don’t you and your party of fuckwits, take a long trip to fuckville and fuck off!

Nice try Richard, we just might get some of those bankers banged up if you keep this up. Team work Richard, team work.

Watch out for the next instalment of Richard’s adventures in Westminsterland.

 

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