UK: reforming bank governance - some suggestions from Andrew Haldane

The current issue of the London Review of Books contains an article by Andrew Haldane, the Executive Director for Financial Stability at the Bank of England, titled The Doom Loop: see here. Mr Haldane writes on a topic about which he has already spoken over the past year or so: the governance of banks and the appropriateness of vesting control rights in shareholders where equity represents a small proportion of bank balance sheets. He makes several suggestions, including extending voting rights across a wider group of stakeholders in order to curb the profit-seeking incentives of the equity minority.