THE BRITISH UNDERSTAND THE BANKSTERS

(h/t John Lanchester)

The Brits have published a report, "Changing banking for good," that has the basic wisdom to recommend that senior banksters face prison sentences:

• A new Senior Persons Regime, replacing the Approved Persons Regime, to ensure that the most important responsibilities within banks are assigned to specific, senior individuals so they can be held fully accountable for their decisions and the standards of their banks in these areas;
• A new licensing regime underpinned by Banking Standards Rules to ensure those who can do serious harm are subject to the full range of enforcement powers;
• A new criminal offence for Senior Persons of reckless misconduct in the management of a bank, carrying a custodial sentence;