Nigel Farage: Banks shouldn’t be moral arbiters

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Nigel Farage said that Dame Alison Rose “had to go” after breaking “the first rule of banking”, client confidentiality.  The former UKIP leader called for “complete new management” and said that “banks should be banks, they should not be moral arbiters.”   Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Transcript

00:00 It's a good start.

00:01 It's a good start.

00:02 She had to go.

00:03 She broke the first rule of banking, client confidentiality.

00:06 Simple as.

00:07 Banks should be banks.

00:08 They should not be moral arbiters, what they think is right and what is wrong.

00:12 I've been with that group 43 years.

00:14 To be closed down without explanation and to find out I have been shut down because

00:20 I do not align with the values of the bank.

00:22 What the hell has that got to do with it?

00:24 And it was Alison Rose that introduced this culture.

00:27 What do you want to see?

00:29 Complete new management.

00:30 Complete new management.

00:31 Mr. Farrows, we are facing a cost of living crisis.

00:35 We've got interest rates and inflation going through the roof.

00:38 Do you really think it's a good idea to go change the entire board at one of the biggest

00:42 banks in the country?

00:43 If they can't maintain the basic principle of client confidentiality, if the board backs

00:49 up a lie, yes.

00:51 How are our viewers, how are UK taxpayers going to be helped by kicking out the whole

00:56 of the board, the banking crisis, the banking turmoil during a cost of living crisis?

01:01 The bank is in turmoil anyway.

01:03 The fish rots from the head down.

01:05 The culture was wrong.

01:07 The level of honesty was wrong.

01:09 The honour to the banking code was wrong.

01:13 The government and the other major investors should appoint on Friday of this week an interim

01:17 board and let's go from there.

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