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Kid gloves for bankers

THE decision by the UK Financial Services Authority to banish Peter Cummings, the former head of corporate banking at HBOS, from the City for life and fine him £500,000 is in stark contrast to the kid gloves treatment we have meted out to our bankers.

Mr Cummings was not the only fallen banker to be run out of town on a rail by the FSA. In May 2010 his counterpart at RBS, Johnny Cameron, agreed not to work in a full-time job in the City (but he has been allowed to take a number of part-time consultancy gigs). Meanwhile, Mr Cameron's former boss at RBS, Fred "the Shred" Goodwin, was stripped of his knighthood earlier this year.

We do things differently on this side of the Irish Sea. Most of the bankers who bankrupted Ireland were allowed to retire unmolested with handsome lump sums and pensions. Some even managed to keep their jobs!

Who are we mere mortals to argue with such wisdom?

Sunday Indo Business