Following the news that Harriet Harman wants to use controversial new equality laws to pack the boards of nationalised banks with women, Phillips says he reckons putting women in charge would go a long way to restoring public confidence: “In an economic recession, some may be tempted to take their foot off the gas when it comes to tackling inequality, asking if we can afford it,” he comments in today’s issue of The Independent. But the truth is, tackling the decades-old inequality faced by women should be at the heart of efforts to restore business reputation.”
But the paper’s business reporter, Jeremy Warner, is having none of it: "The leader of the team that bought us the collateralised debt obligations and convinced regulators that these credit derivatives were perfectly safe… was, in fact a woman, one Blythe Masters of JP Morgan,” he spits.
He also points to female financier Nicola Horlick, who is currently locked in a colourful City battle which could lead to her being ousted as the manager of Bramdean Alternative and the liquidation of the fund that she set up in a blaze of publicity two years ago.
“Gender, it seems, is no protection against either recklessness or greed,” comments Warner.