The limits of co-regulation: tax avoidance and Big Banks

So Boy George tries to persuade banks to take a bath - and they essentially told him to get lost (except 4 that he owns). Now he must have come back with some bribes because 15 of them are playing ball: "Osborne is stepping back from plans, initiated by the Labour government, to demand that bankers disclose how many of their employees earn more than £500,000 a year." Is this what you would call a voluntary Code of Practice? Not in my book...