Errant bankers 'must be struck off'
Irresponsible bankers who take unacceptable risks or mis-sell products to customers should be thrown out of the profession, Ed Miliband has said.
In an interview with The Sunday Times, the Labour leader called for tough new rules that see reckless City staff "struck off" in the same way that negligent midwives and doctors can be ruled unfit for practice.
His comments come ahead of the publishing of the Independent Commission on Banking's (ICB) final report which will make recommendations on how to prevent another banking crisis.
Referring to the crisis that led to the massive taxpayer bailout Mr Miliband said: "Bankers say the era of remorse is over, but that's not good enough. I just don't think anything has really changed. Nobody has paid a price for what happened - that is what really angers people.
"There is a sense that they just don't get it. This is nothing to do with politics or envy. It is to do with the real destruction caused by bankers, for which other people paid the price."
The MP added: "Frankly, I think the industry should take some responsibility and strike people off who do the wrong thing."