Legislation governing the smacking of bankers needs to be relaxed so discipline can be instilled in financial services executives without fear of prosecution, a senior Labour politician has said.
The Tottenham MP David Lammy claimed that Labour’s 2004 decision to tighten up the law related to smacking bankers was partly to blame for the recent economic crisis, which has engulfed the world’s largest economies.
In an interview with LBC Radio, the former education minister said:
Many of my constituents came up to me after the crisis and blamed the Labour government, saying: ‘You guys stopped us being able to smack our bank managers.’
Lammy, who admitted to occasionally smacking his own bank manager, said people should be able to physically discipline top city executives to keep them under control and prevent them from running riot destroying businesses and property as they have been doing recently.
Current legislation, enforced under the Bankers Discipline Act 2004, says people are allowed to smack bankers only without causing “reddening of the skin”.
The politician said parents in Tottenham had to raise their children “with greedy fat-cat executives roaming the streets threatening people with starvation if they didn’t hand over their money to them in the form of bonuses and there was nothing they could do to discipline them. Many people no longer feel sovereign in their own country because of the laws.”
Lammy has set out his support for stricter reform of financial services regulations in his book: A Short, Sharp Slap On The Legs Will Soon Sort Out Bankers.
.
Please feel free to comment – you don’t need to register and I’m extremely minimal with the moderating – so fire away.
.
By the way, if you click on any of these buttons below, you’ll be doing me a huge favour by sharing this article with other people. Thanks:
bank managers have been more or less abolished, will smacking be available to those who need to chastise the commission-only insurance salespeople who have replaced them?
LikeLike
Let’s hope so. A short sharp slap on the legs might just keep them under control.
LikeLike
Pingback: Angry police seek right to kettle themselves « Pride's Purge
Pingback: Police – we won’t stand for racism. We’ll probably stay sitting. « Pride's Purge
Pingback: Private Security Guards Prevent Dangerous Photograph From Being Taken of Olympic Venue « Pride's Purge
Pingback: Labour ‘too reliant’ on banking community leaders for votes « Pride's Purge
Pingback: Independent Commission – excessive banking can cause blindness « Pride's Purge
Pingback: Lest we forget – in 2007 Cameron endorsed even less regulation of banks than Labour …… « Pride's Purge
Pingback: Government Cracks Down On Banking Scandals By Ordering Urgent Name Change Of LIBOR To TRUBOR « Pride's Purge
Pingback: Banking Scandal – inquiry to be led by experts on corruption, lying and stealing: MPs « Pride's Purge
Pingback: Scientists Claim Tiny Sub-Atomic Traces of Ethics Discovered in Barclays « Pride's Purge
Pingback: Diamond Blames Whitehall Officials For Allowing Him To Be An Obscenely Overpaid Loan Shark « Pride's Purge
Pingback: New government rules – teachers to get just £2 million payout after dismissal for incompetence « Pride's Purge
Pingback: IMPORTANT WARNING – tips on how to avoid mauling by dangerous breeds of PCs « Pride's Purge
Pingback: Met apologises for hiring police officers without asking their names « Pride's Purge
Pingback: Senior government adviser warns that problem banking families ‘have too many children’ « Pride's Purge
Pingback: Rat warning as floods flush out pests from city boardrooms « Pride's Purge
Pingback: While the government does nothing about corporate tax evasion – plumbers are going to prison for it « Pride's Purge
Pingback: Ministers Admit Paying Tradesmen Cash-In-Hand To Run Country « Pride's Purge
Pingback: Government To Boost Jobs By Making It Easier For Employers To Kill Their Staff « Pride's Purge
Pingback: Minister defends parents’ right to smack Michael Gove « Pride's Purge
Pingback: Personal debt to banks: £1.4tn. Taxpayer-funded bailout to banks: £1.6tn. Connection? | Pride's Purge