Investment bank JP Morgan has reported a huge jump in profits and bumper pay packets. The bank, which received support in the US government bail-out, posted a quarterly profit of almost $3.3bn, compared to just over $700m in the same period last year.
Gillian Tett, assistant editor of the Financial Times, and David Pitt-Watson, chair of Hermes shareholder activist funds and member of a new Which? commission on banks, discuss whether the UK should follow the US in imposing a tax on banks.
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