ManagementDarling tells bankers to do their jobs
UK Chancellor of the Exchequer Alistair Darling said bankers should stop complaining and get to work.
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Darling, who spoke today to reporters before meeting bankers at the World Economic Forum annual meeting in Davos, Switzerland, said, “my message would be, is rather than feel sorry for yourselves the best thing is to work with governments.”
“It’s in their interest to get off the front pages and do what they’re supposed to do — provide credit to the economy,” he said.
Leaders of some of the world’s biggest banks met in Davos to plot how to reassert their influence with regulators and governments a week after US President Barack Obama shocked them with plans that may force large banks to limit their size and curb investments in hedge funds and private equity.
In the UK, Darling imposed a 50 per cent tax on bonuses of more than £25,000 ($40,310).
“There’s a recognition among a number of bankers that can see the bigger picture that maintaining a stand-off, swapping insults, doesn’t work,” he said. “Banks have to operate in the same world as the rest of us.”