Adair Turner: Time to stop 'demonising' bankers

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The Chairman of the Financial Services Authority, Lord Turner, has said it is important to move beyond the "demonisation of over-paid traders".

His remarks follow a warning by the deputy prime minister, Nick Clegg, that the government would not stand idly by if "offensive" bonuses were handed out.

Business Secretary Vince Cable has also said banks could face more taxes if they pay out "outrageously large" bonuses.

Lord Turner told the BBC's Robert Peston that the banking crisis had many causes.

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