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Here’s Lib Dem chief secretary to the treasury Danny Alexander interviewed on Sunday lunchtime, defending the Coalition’s decision not to demand RBS chief executive Stephen Hester return his controversial bonus — a few hours before Mr Hester voluntarily forfeited it to defuse the row: (Available on the BBC website here.) * Stephen Tall is Co-Editor [...]

Nick Clegg’s very public call for the British public to be given shares in the bailed-out banks — creating 46 million shareholders and allowing collective ownership of banks — has garnered acres of coverage the past couple of days. It’s three months since Lib Dem MP Stephen Williams first proposed the privatisation of its 83% [...]

A lot of people don’t enjoy election campaigns – but here’s one reason I do: the quality of Lib Dem press releases sky rockets. Today’s announcing Liberal Democrats’ five point plan to tackle bankers’ bonuses is a case in point: punchy but detailed. So good, in fact, I’m simply going to hit the copy ‘n’ [...]

Bonuses for bankers: can they be justified? That’s the question everyone’s asking following RBS’s announcement that it made eye-watering losses of £3.6bn, but paid out bonues to staff worth £1.3bn. Lib Dem deputy leader Vince Cable is dubious: It’s hard to understand why £1.3bn is being paid out in bonuses when RBS continues to make losses. RBS [...]

The Tories’ shadow chancellor George Osborne was proud to declare on this morning’s BBC Radio 4 Today Programme that he had been in favour of banking reforms now being championed by President Obama – to break up the big banks – “since last July”. This will come as something of a surprise to anyone who’s [...]

US firm Kraft’s proposed takeover of Cadbury’s has made headlines in recent days. First, because it’s a major, historic British brand being snapped-up by a non-UK business (or ‘foreign predator’, as Vince Cable labels them). Secondly, because of the fear that job losses will result. And, thirdly, because of the role of the Royal Bank [...]

The BBC tells us: Lib Dem leader Nick Clegg has queried the “workability” of a suggested tax on banks to curb excessive bonuses. Lord Turner, head of the UK’s finance watchdog, has suggested taxing banks’ financial transactions. The Treasury has urged restraint on bonuses but stressed taxation was a matter for the chancellor. Mr Clegg said the idea had practical  [ Read More ]

Yesterday Northern Rock – taken into public ownership 18 months ago – posted its figures for the first six months of the year. They made for eye-watering reading: Nationalised bank Northern Rock made a pre-tax loss of £724m for the first six months of the year as its bad debts tripled. The Newcastle-based firm wrote off £602m in bad loans  [ Read More ]

Welcome to this, the final summer edition of LDV’s Daily View – the feature will return again at the beginning of September, as will the various members of the LDV editorial collective. 2 Big Stories Treasury select committee slams Government’s “largely cosmetic” banking reform plans Here’s what the BBC has to say: The government’s plans for reforming the regulation of  [ Read More ]

2 Big Stories Kingman steps down from UKFI As the Press Association reports: The company responsible for the taxpayer’s stakes in ailing banks saw a leadership shake-up as chief executive John Kingman announced plans to step down. Mr Kingman, who has led UK Financial Investments (UKFI) since it was formed last November, will step down from the £143,000 post in  [ Read More ]