LIBOR (FSA Investigation)
Debate between Desmond Swayne and George Osborne(12 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
It is one thing not to appear on the BBC’s “Newsnight”, and another not to be in the House of Commons to answer to the public and to Parliament for one’s own mistakes during the years of irresponsibility. That is the question the shadow Chancellor will no doubt have to answer today. As for history lessons, let me say this to the hon. Member for Bolsover (Mr Skinner): he has never once got up and apologised for the mistakes of the Government he consistently supported over 13 years. It is no good blaming what happened in the 1980s; we are talking about what happened in 2005, 2006, and 2007, when he and his cronies were in charge.
Mr Desmond Swayne (New Forest West) (Con)
When I left banking 16 years ago, we were a dull profession, but capable of giving solid advice. When did it go so horribly wrong? When did bankers start treating their customers as punters to be exploited or devoured? Can my right hon. Friend assure the House that his reforms will restore the status quo ante?
Mr Osborne
I think the answer to my hon. Friends question is: when he left the industry.