25/03/2014 The Papers


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breezed past Jo`Wilfried Tsonga to set up a quarterfinal with Novak


Djokovic. All that and more in Sportsday in 15 minutes after the


Papers. Welcome to our look ahead to what


the papers will be bringing us tomorrow. With me Beth Rigby of the


Financial Times and journalist and author John Kampfner. We will start


with the Daily Telegraph, leading on new NHS guidance that it should be


easier for teenage girls to get hold of the morning after pill, the


photograph shows Mick Jagger with his sons and daughter shortly before


they attended L'Wren Scott's funeral. The Financial Times has


found that Wall Street banks and some of their foreign rivals have


had to pay out $100 billion in legal settlement since the financial


crisis. More news from across the Atlantic with the Guardian reporting


that plans have been drawn up in Washington to end the systematic


collecting of Americans' phone records by the National Security


Agency. The Daily Mail is reporting on the appearance of the


Metropolitan Police chief commissioner Sir Bernard Hogan`Howe


before a committee of MPs in which he admitted not knowing how many


police documents were shredded which may have revealed the extent of


alleged corruption within his force. Finally, the Daily Express is


leading with more analysis of what may have happened to that missing


Malaysian airlines plane. An aviation expert that the paper has


talked to believe there is evidence that the pilot was involved in a


suicide plunge. We will start with the Financial


Times, Beth, very interesting story, as the world, frankly, begins to


recover from the mess of the last four or five years, we are seeing


the cost of that mess to some American banks. We will also see a


political shift in attitudes, and I think that is what this story is


about, that 100 billion of fines in US legal settlements by Wall Street


and some foreign banks in the US, half of those penalties extracted in


the past year as lawmakers and regulators start poring over how


banks have been behaving and where they have found misconduct, they are


hitting hard. It says here, the sum reflects a substantial served in the


political attitudes towards banks as regulators and the Obama


administration seeks to counter perceptions that bankers have got


off lightly in their role in the financial crisis. And so this is the


sort of political fallout. In the US, they are going in hard with


fines. In the UK, we are going hard on regulation or bonus claw`backs.


We have had the LIBOR and mis`selling scandal here, but these


sort of sums, we haven't seen anything like that in the UK. You


talk about the perception that the bankers have got away lightly,


certainly America, and that is the perception your plants, and it will


continue, won't it, when you figure out the fact that not a single


person has gone to jail? I don't buy this interpretation. The 100 billion


figure looks startling, and American regulators have always been, for


many years, tougher on the banks, and they are tougher on


money`laundering. London is the money`laundering capital of the


world, and in Britain we seem to have a sense of, let the financial


services rip, we are a lot more lax in pretty much every area of


regulation. And yes, as Clive has said, not a single banker either


side, or in Switzerland or Germany or anywhere, has been convicted of


anything substantial. Look at any of the mis`selling scandals, any of the


sub`prime stuff, any of the pension mis`selling, LIBOR, whatever `


nobody has gone to jail. Meanwhile, the British Government objects when


the European Union tries to rein in bankers para`bonuses, saying


somehow... I am trying to say that it is great what the Americans are


doing, but it is a drop in the Oak shouldn't, and the perception among


the public is that the financial services as a sector have got away


scot`free. The point I would make in terms of bonuses is that the


European Union might want to put forward rules, but for the UK,


financial services is such a core part... Because we have allowed


ourselves to be like that. But while you are rebalancing the economy, you


have to be careful not to choke it. I would say as well that, actually,


there are signs of things toughening up, people's dismay of these huge


bonuses that are still being awarded... Still being awarded in


the last few weeks! They say they are just going to increase core


salaries to get away with it. The Bank of England have said that they


will put forward rules to have six`year claw`backs, so that this is


an effort to try and... What you are saying about no`one going to jail,


the point is that until people feel they have individual


responsibility, either through going to jail or having money taken back


of them, then how do you mitigate risk? I think the claw`back, the


idea of claw`back, you can take people's bonuses six years after


they have been awarded them, that could go some way to start beginning


to change the culture. I am not denying that things are not


toughening up at the margins. All I am saying is that I do not see it as


a greater seismic change. I think there are bits and pieces. There is


probably a lot more that needs to be done, and I suspect that is the view


of a lot of members of the public. The knock`on effect of the mess, the


financial mess we have all been suffering over the last few years,


is cuts, and at the bottom of the Guardian, cuts have left 250,000


older people without state care. We were just discussing this before,


interesting that there has been so much emphasis in the Budget around


it being very much focused on older voters and the fascinating new


flexibility for people to spend their pensions, to cash in their


pensions in the way that they wish. And in many ways it is very


appealing, the idea of trusting people, particularly trusting people


who have been around for a while and who know the way of the world. Let


them spend their pensions or save the way they wish, and discussions


now about whether David Cameron will finally make good on his original


promise to raise the threshold of inheritance tax. That is all the


good news, and it is a certain type of older voter or older person, but


obviously the flip side, according to the Guardian, hardly a friend of


the Conservative coalition, is the idea of the route cuts there is the


other sector of the elderly vote that is being left behind. ``


through cuts. Because councils do not have enough money to put into


services. What is interesting about this story, talking about the older


people in our country, 250,000 is not a huge number of people, but it


is symptomatic and symbolic of the kind of cuts beginning to feed


through. And I thought what was pertinent about this is that Labour


have been slammed a bit in the past few days because the Tories are


riding high on, you know, trying to attract the silver vote through


pension reform, through inheritance tax promises et cetera, or hints.


But actually people are still feeling, you know, the Labour


argument would be that people are still feeling the crunch, and in


lower income groups, in a vulnerable groups, actually the cuts to the


welfare state, the caps on welfare spending are actually hurting the


people at the edges. From a political point of view, George


Osborne doesn't want stories like this coming through, because it


plays back into the Labour sensed that this recovery is for the few,


not the many. We are running out of time. We'll go on to the Telegraph.


Royal consent. The suggestion is we should stop or end the practice,


which is what, hundreds of years, I would have thought, that the Queen


signs off on bills and legislation. It is one of those many quirks of


the British non`constitutional, constitutional system. The idea that


the Queen physically signs off on bills, although she is supposed to


be and is apolitical and the Commons constitutional reform committee,


it's hinting, it is basically saying ` do we, everybody, want to have


another look at this? Is it right that the monarch should physically


be signing, because it gives the impression that she has something to


do with politics and actually, she doesn't. Although lpts Go on. Go on.


Well, if there is a change monarch in the future and say Prince


Charles... A bit more interventionist. We get some idea of


what he is going on about. He might say ` I am not going to sign this, I


don't agree. Part of me thinks, that's ridiculous, the Queen signing


off bills fuels speculation that the monarchy has indue influence but


maybe constitutionally it would be right to properly make sure that


that... To have that final little check and balance It is a very


typically British way of dealing with constitutional reform, let it


wither away. Let's have a committee. She gives it the nod and that part


of parliamentary practice is dealt with. We can't all be hard`headed


Americans like you. I'm in the American. I know you are not, but


you love America. As they do at Chelsea.


Oh, that reminds me. There was a football result tonight. You could


be in trouble with Chelsea. We will not discuss that. You will


be back later. The sport is coming up. You will be a back in an hour


for another look at the stories behind the headlines. Stay with us


for that. At the top of the next hour, 11.00pm, we will have the


latest on the search of that missing Malaysian airlines plane. But now,


as promised, time for Sportsday. Hello and welcome to Sportsday. Our


headlines this evening: There's derby delight for City as they brush


off United to move up to second in the table. Bayern Munich lie in wait


for Moyes' Men. Today they won the German title in record`breaking


style. And Andy Murray


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