Now there’s a petition calling for a judicial inquiry into banks
Ann Pettifor has started a petition on the government’s epetition website
We the undersigned call for an independent, judicial public enquiry into fraud, wrongdoing and ethics of British banks, their management and their staff, and the role of the British Bankers Association. The terms of reference of this inquiry should also include the manipulation of interest rates on about £225 trillion of assets. The inquiry must have full powers to compel witnesses to appear on oath, and to obtain all forms of evidence.
Almost everyone was in thrall to finance in the years before the crash – and just as Leveson has acted to cut – or at least weaken – the power of unelected media moguls, now we need one to do the same for the banks.
The government has had to respond to the growing calls for an inquiry today – including from Ed Miliband, but what ministers are proposing looks more like a rerun of the FSA inquiry than a proper look at what’s gone wrong with the whole sector.