So the Chancellor of the Exchequer, Alistair Darling is to ask the FSA to "look into" the City bonus malarkey. He says that the bonus system in the City make encourage "reckless risk-taking" and lead to the undermining of the world's economic system.
Strange isn't it? Since New Labour was elected to govern back in 1997 many activists, MP's and even a Cabinet Minister or three have demanded of Tony Blair and Gordon Brown that something be done to curb the excesses of the City types. To no avail. Gordon especially set his face against any such regulation less it discourage the City from turning profits.
Well Alistair, sorry not to get up any enthusiasm for your new-found enthusiasm for "reining in" the "Loads-of-Money" Bonus kings of the City. This is a case of doors being slammed after horses have bolted.
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