Banking Bill

Even if hon. Members do not agree that bonuses are wrong in principle, they must surely agree that they are wrong in practice, because those bonuses were tied to the sale of products that we now find are worthless. Does my hon. Friend agree that unless something is done about the bonus regime in the City, people will continue to follow risky, short-term strategies to secure high bonuses at the expense of the long-term health of companies and the economy?