Skip to main content

Something is rotten in the State of Banking.


http://www.guardian.co.uk/business/2012/jun/29/mervyn-king



 Governor's scathing attack on industry's culture of excess as new scandal erupts







The scandalous activities of the banks have been with us for decades. Only now does the Governor of the Bank of England propose that action be taken to control the renegade industry.  "It is time to do something about the banking system," King said."It goes to the culture and the structure of banks: the excessive compensation, the shoddy treatment of customers, the deceitful manipulation of a key interest rate, and today, news of yet another mis-selling scandal." The banks have been caught with their fingers in the till, and they should face the full economic and if established the full legal consequences. The question is will they? From previous experience, there will be a few days or weeks furore in the media, questions in the House and heated debate on BBC Question Time, then after the imposition of self regulation, the banks will return to the status quo.



Comments

Popular posts from this blog

Northern Ireland and Brexit. The return of "The Troubles"

Northern Ireland: police attacked in another night of disturbances | Northern Ireland | The Guardian When the "Brexit" debate was still filling our newspapers and our television screens, readers may remember why I had changed my mind since voting to leave at the referendum vote. Apart from the economic arguments, which had become crystal clear after peeling away all the lies and misrepresentations trotted out by Bozo Boris and his "Get Brexit Done" conspirators, there was always the problem of the border between Northern Ireland and the Republic of Ireland. Would it be possible to have a border between the European Union and the United Kingdom where people, goods and services could pass freely between the two nations without customs restrictions, tariffs, duties and all the other formalities? Would it be possible to have one part of the United Kingdom treated differently from other parts of the United Kingdom, particularly when Scotland for example had voted overwhe

The Parliamentary Labour Party conspirators are hatching another coup.

http://www.independent.co.uk/news/uk/politics/corbyn-labour-leadership-rebel-mps-a7202641.html Labour MPs plan for Corbyn victory  and plot how to confront an emboldened leader Even for the "Independent", the number and use of unnamed anonymous "sources" in this article is quite astonishing. However, amongst all the usual speculative delusion, there is one factor which causes concern to anyone who believes in the Labour Party, its principles and in he democratic process of the Labour movement. It is abundantly clear that elements within the Parliamentary Labour Party, are even now, planning another coup in the event that Jeremy Corbyn should emerge as winner in the current ballot. The failed coup of earlier this year, has now descended into a sham leadership election, because the conspirators still fail to accept the democratic decision of the Labour party membership and cling to

Plemont development or return to nature?

  http://www.bbc.co.uk/news/world-europe-jersey-  A date has been set for a public inquiry into plans for Plemont Headland. This exceptional location must be sold to the National trust for Jersey, and returned to nature. Any other outcome involving development of the site, can only demonstrate the extent to which greed and self interest have become endemic in Jersey.