At first glance the headline made me wonder if this was just another greedy banker who was throwing a temper tantrum because he didn't get a bonus for selling garbage. The real story may be something worth investigation by authorities. If the banker in question did report an actual violation of the law or procedures, it needs to be made public. The bankers clearly prefer a protected status above the law, but if they're going to require bailouts to stay afloat, the public deserves to know the full details. Why should the public not know the details behind their investment? Bloomberg:
A senior investment banker at Credit Agricole SA (ACA) sued the French lender for millions of pounds, claiming he missed out on bonuses and was dismissed for reporting colleagues under whistle-blowing rules. Edward Willems, former deputy head of fixed income markets at Credit Agricole’s corporate and investment banking unit, was “subjected to detriment as a result of making protected disclosure,” his lawyer Tom Croxford told a London employment tribunal today. Willems’ bonuses in 2010 and 2011 were “inappropriately low” because of the whistle blowing, Croxford said, without describing the conduct he reported. Willems “is seeking millions of pounds,” Credit Agricole’s lawyer Nicholas Randall said at the hearing this morning.