How would you change banks?
Wed, 10/02/2010 - 17:27
Split the banks into two sections. The first backed by the already existing bank guarantee, would deal in savings/current accounts,loans and mortgages. The second would deal in all other areas of banking investments, which as not backed by a guarantee could if they chose still deal in the high risk areas that got us and them into such a financial mess in the first place. With no guarantee, it would be the investors who would be more likely to question the risk percentage, which would become a bank policing system, by default.
Fri, 12/02/2010 - 19:24
This suggestion applies to all bonus schemes, not just bankers'.
Bonuses to be potentially taxed(say 1.5 x existing rate). Exemption allowed if payment is in shares and on a date appropriate to the individual's effective results horizon. So, main board 10 years. Top management 5 years and so on downwards.
This is built on the premis that improving share values improves all the things we want. Quality jobs, retirement fund values, Taxes paid, investment in products and services.
Sat, 13/02/2010 - 18:02
Return all call centres to UK (i.e English as first language) and supply branch phone numbers for account specific enquiries.
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Recent research by Which? found that 81% of people don't think banks are changing for the better following the financial crisis.
Nearly three quarters of those asked said that banks should be broken up to create more competition, while nearly half said the best way to improve the banks overall would be to separate the retail and wholesale side of banks.
But what do you think - if you could change how banks operate in the UK then what would be top of your wish list?
Share your views in the Moneywise forum