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Keep up the provocations Harry - but don't relax too much in your retirement home - the public you despise will not forget what a scumbag you have been.

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Wanstead MP Harry Cohen has called for safeguards to prevent financial crises

4:50pm Friday 17th July 2009

By Charlie Campbell »

WANSTEAD MP Harry Cohen has called for reforms to the UK banking system to avoid crises such as the credit crunch.

Mr Cohen, who is stepping down at the next election after 25 years representing his east London constituency, asked if the Chancellor of the Exchequer would ensure that non-executive directors of banks and other financial institutions are not appointed by those bodies.

Parliamentary Secretary for the Treasury Sarah McCarthy-Fry MP replied: “Company directors are accountable to shareholders for the execution of their duties under the Companies Act 2006.

“Shareholders are responsible for holding directors accountable for their performance and stewardship and decide whether to appoint or reappoint directors.

“The function of non-executive directors in banks and other financial institutions is being considered by Sir David Walker as part of his review of bank corporate governance.

“Sir David's consultation paper was published on July 16 and the Government will consider its recommendations carefully.”

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