Gordon Brown has suggested that indviduals who take unnecessary risks in financial institutions should be culpable for their actions.
Prime minister Gordon Brown has asserted that the financiers and bankers who make irresponsible decisions and take risks should be "punished".
Mr Brown told GMTV that "irresponsible behaviour", including "excessive and irresponsible risk-taking" should suffer consequences.
He added that top executives of the banks which have signed up to the government's bail-out plan must accept that they will not receive bonus payouts.
"One of the conditions of us helping the banks is that we will have to reach an agreement about their executive remuneration," the prime minister said.
He further explained that while the effects of the American sub-prime mortgage crisis have been felt in Britain, "there have been abuses in our system as well" which must be dealt with.
Meanwhile, IFA Life welcomed the multi-billion pound government support package for banks this week, as well as the 0.5 percent cut to interest rates.
The financial social networking website's founder, Philip Calvert, said that as the economy and the markets are a key talking point in the media, people with financial questions may do well to consult with an independent financial adviser.
IFA Life further stated that the current economic climate provides the best opportunity in many years for the financial advice industry and that a professional adviser is often a better source of information than the instantaneous reports available on the internet.
