Minister attacks the City’s ‘moral neglect’

Author: Press Associatio

The former Marks & Spencer’s chairman was brought into the Government last
year to help rescue the banking system and clean up the City, but came under
pressure to quit after he allowed the Royal Bank of Scotland chief
executive, Sir Fred Goodwin, to leave the troubled bank with a £16.9m
pension.

Lord Myners said he was “increasingly exercised and concerned with the
fact we have compromised our lives”. He added: “This is very
evident in the financial community ? that money has become everything. The
absence of clear moral purpose is something that is very troubling.”

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