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Saturday, 17 September 2011

£1.3 billion Rogue Trader... heads should roll.

It is absolutely criminal if this Ghanian trader is the only one in the dock.

I am not saying he should get the book thrown at him but I do think his immediate manager should also be in the dock, and further more, I think every manager above his immediate manager - and I mean all up to and including the bank's UK CEO should be fired without any compensation.

Nobody is indispensable and until companies carry out this wholesale pruning, traders will continue to take advantage of the system.

Fire the line managers up to and including the CEO and not only will you be able to reward up and coming executives, but you will ensure that they never ever let this happen again.

But if you don't. please believe me, it will happen again. And again. And again.


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