Risk in the financial sector – have we learned any lessons?

As part of his pre-Budget report in December, the UK chancellor, Alistair Darling, announced a one-off super-tax on bankers’ bonuses. This followed ongoing threats by bankers that they will leave the UK if their (bonus) earning potential is curtailed. Unsurprisingly, this angered the British tax-payer who, thanks to the excessive risks taken by the banks, […]