Politics
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Speculation is that other bankers may follow Fred.
The ultimate in gesture politics. The invertebrates think they have found a way of appearing to do something decisive, while really doing next to FA.
What does this achieve. Is it a punishment? Or a deterrent for possible future egomaniacs? Fred has still got what matters most to him.
If we had had a proper criminal investigation, or a judicial enquiry on oath; we would by now have cleared these people or identified wrong doing.
Of course, the bankers would have pointed to the role of Blair and Brown. For that reason we have had no proper investigation . There have been charges (and acquittals in the US, arrests (eventually in Ireland), but here next to nothing .
So we are reduced to this gestures against Goodwin, and possibly others. The only one to endure a real financial penalty is Hester who had nothing to do with the crash.
Spineless politicians mess it up again. Either have a proper investigation or shut up, stop the witch hunt and the posturing.
The ultimate in gesture politics. The invertebrates think they have found a way of appearing to do something decisive, while really doing next to FA.
What does this achieve. Is it a punishment? Or a deterrent for possible future egomaniacs? Fred has still got what matters most to him.
If we had had a proper criminal investigation, or a judicial enquiry on oath; we would by now have cleared these people or identified wrong doing.
Of course, the bankers would have pointed to the role of Blair and Brown. For that reason we have had no proper investigation . There have been charges (and acquittals in the US, arrests (eventually in Ireland), but here next to nothing .
So we are reduced to this gestures against Goodwin, and possibly others. The only one to endure a real financial penalty is Hester who had nothing to do with the crash.
Spineless politicians mess it up again. Either have a proper investigation or shut up, stop the witch hunt and the posturing.
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Spot on mr e. its about time some punitive measures were taken against the politicians & regulators who let it all happen on their watch too, they lauded & positively encouraged the likes of Goodwin to believe they were untouchable
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totally agree. bashing bankers generates headlines and may win cheap votes. out of control govt spending in uk and elsewhere the no1 issue
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will brown be allowed to take a peerage for his services to UK gold reserves
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Lord Lawson justifies it by saying,
Every headmaster understands the need to make an example FFS We are talking about billions of pounds being lost. Either investigate it properly and take appropriate action, or shut up. "Make an example" ?? what drivel to excuse this spineless, inane gesture of withdrawing a knighthood. |
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Lord Lawson justifies it by saying,
LORD LAWSON...got a PEERAGE FOR Economic Incompetence.... SAME OLD TORIES... WHAT ABOUT ARCHER....JEFFREY (not Peter) Got a CRIMINAL CONVICTION...still a Lord... PRICELESS! |
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It seems to me the solution to banking going forward is painfully obvious and easy.
1) Split retail and investment banking. If you go bust you go bust. No bailouts of either type of bank. 2) Remove savers government guarantee to anything over 20k. Make sure savers make their own credit judgements on banks. If you don't like a bank that spits out mortgages like no tomorrow, then don't put your cash there even if they have a good interest rate. Risk and reward. Right. Solved. Why isn't this done today. We can have this in place by 5pm  Then the horrible bankers can do whatever they want without everyone whinging about it. |
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I'd go further, make regulation optional and those banks that opt in pay an enormous indemnity premium, those than dont can sink or swim.
Let NR lend 12 x income at 125% but if they go tits up hard luck |
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Nothing showed a great disrespect to capitalism than when b*llend individuals and councils put their savings in Icelandic offshore banks chasing a golden interest rate. Then they lose the lot and get bailed out by the taxpayer.
It's no different from what the banks did but they get no flak. Heads they win, tails we lose. |
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My point exactly, chase the high % and you're on your own, both lenders and savers. If NR will lend me silly money dont come running when I knock them.
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