Banks will continue to gamble with public money, says Gordon Brown
Former UK prime minster says lax punishment of banks has left risky culture intact
Gordon Brown says regulators have failed in their promise to “bring finance to heel” following the financial crisis and that it is “inevitable” rogue bankers will gamble with public money again.
In an excerpt from his memoirs, Gordon Brown reflects on the 2008 financial crisis, concluding the banking system has failed to heed warnings of the past, due in part to lax punishment received by bankers in the aftermath.
“Little has changed since the promise in 2009 that we bring finance to heel. The
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