The chairman of the UK financial watchdog has warned that the economic recovery could be undermined if new regulation is introduced too quickly.

Lord Turner said reducing debt levels across the financial system was key, but doing so too quickly could slow the recovery.

He also warned regulators not to get preoccupied with bankers’ bonuses, which were not the fundamental problem. BBC.

I don’t see any quick fixes in fact I don’t see any fixes – and the problem is bonuses – it isn’t anything else – payment of huge salaries, pensions and bonuses encouraged bank employees to make a profit anyway they could.

Bankers invented a bewildering array of financial products to trade in many so complex that by the time the banking crises happened no one had any idea what they were trading – all bankers were doing was pocketing ever more money.

Then banking crisis happened and we the tax payer bailed them out meanwhile bankers went back to huge salaries, bonuses and pensions – whilst the rest of us are left paying back their debts.

Now why are we putting up with that – come to that why do we believe the Com-Dem lies that Labour created the mess? They didn’t banks did. Why on earth do we want to go back to the status quo – it’ll only end one way and we’ll end up picking up the bill again – it’s time we stopped believing their lies.