February 09, 2009

Prime Minister Gordon Brown’s government will scrutinize U.K. bank directors and their role in encouraging excessive risk-taking amid mounting anger over bonuses paid by lenders bailed out by the Treasury.

“The no rewards for failure policy will be pursued aggressively,” Brown said in a speech in London today. “The old short term bonus culture is gone. In future there must be rewards for success, long-term sustainable success.”