Ross, actually the part of my above post regards boardroom execs clapping each other on the shoulder and voting each other bonuses comes almost word for word from Dave Cameron and Nick Clegg about 1 month ago, it was on Sky News.
The UK Corporate Governance Code might come in handy if Fred the Shred is summoned to court to answer for reckless banking. According to Treasury circles, he should be sent to court on account of existing laws in 2008 that he did not abide to.
Today the character has been stripped of his knighthood, so presumably it has been recognised that the individual did act in a reckless manner and did not abide to existing regulations. The Cabinet has stated today that he did exactly that.
The Cabinet, in fact, seem to be determined to get to grips with the bankers, and Labour is all for it. Perhaps they don't know about the UK Corporate Governance Code?
My guess is they do!
