Miliband urges inquiry into banking

Updated
Miliband
Miliband

Ed Miliband has called for a full-scale public inquiry into banking culture and practices after the City was rocked by two major scandals in the space of a week.

The Labour leader said the industry was plagued by an "institutional corruption" that could only be eradicated by introducing a tough new code of conduct and jail sentences for immoral bankers who abuse the system.

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