RBS: A UKGI company
Monday, 9 November, 2009 Leave a comment
So Mr Hester says we aren’t borrowing the money they are so desperately keen to lend!?
That’s not the word that I’m getting from business…or, in fact, from within RBS itself. Lots of bullshit about working toward delivering a “world class service”. How are they going to achieve this?
Well this is the laughable bit. By re-visiting the kind of sound governance and business management that their clients have had to master by “crash course” (sic) in a bid for mere survival. Survival without the support of the “dealers” who got them hooked on credit (more appropriately – debt). Thanks guys for your support and for the timely reminder that you are not to be trusted.
SO, as these bankers sit back and wait for us to swallow this latest lie. The extent of their efforts is to try to dupe us with more “talking the talk”. Whether the words are formed and uttered by a banker or politician is irrelevant as, to all intents and purposes, they are one in the same. Until such time as there is consistent evidence that they have any intention to “walk the talk” this will, understandably, be perceived as yet more “smoke and mirrors”.
They have presented ‘evidence’ that they are moving forward in the form of reducing the scale of their losses – down to a poxy £2.2bn quarterly loss.
I love it when, even the BBC, think nothing of reporting in a matter of fact way, that, at least “the UK retail activities are profitable”.
Wait a minute! How happy should business and personal customers be to know that the same bankers who so efficiently lost the bulk of the money they got from us first time around…bear I’m mind it wasn’t all “lost” it was only the leveraged amount net of obscene and unjustified amounts in commissions, fees, expenses and bonus (by blindly following their American brothers into uncharted and murky waters)…are now beginning to turn a profit from the money that we gave them to replace the original amounts that were gambled away!!?
Unfortunately our wannabe banking superstars were so caught up by the smell of blood in the water that they gorged upon the bountiful (US) leftovers that were just too tasty to resist. No need to ask questions just get stuck in and feed. Even if you aren’t hungry or don’t need it, feed to ensure that others (less worthy) cannot.
I MAY be slightly OTT with the analogy but only in the eyes of some. The question remains. How happy can it be that the initial bailout has failed to provide help (does anyone actually believe Stephen Hester?) where it is most needed?
Let alone another £40bn of our money is committed at a time when Audit Scotland alone are warning of the possibility of a £3bn shortfall, infrastructure projects are being sidetracked or binned altogether, services are being cut and funding for Third sector will dry up. Not really what you need at a time when the country and, in particular the social underclass, that is growing daily, (thanks to the greed culture within banks) need these services more than they may need the services of a debt-peddler whose sole aim is to profit from the misery they have created!?
So, what a waste aiming for service improvements. Attempt to rebuild some shred of credibility by re-capitalising the economy rather than the corporate entity. Show you have some humanity, savvy, commonsense and focus upon providing customer value. Sustainable value not a quick fix which will, inevitably lead to a win/lose scenario…yet again. Once that is done working on service may be a worthwhile exercise.
Fair to say that the economy is really the domain of politicians. And, if they are anything more than pawns of the financial sector, we can surely expect that UKFI utilise public networks like Business Gateway and similar local enterprise organisations to ensure that support goes into the economy via the businesses that are perhaps the only hope to avoid a genuine threat or civil unrest, in the short term, and a terminal slide down the league table of global economic powers.
Ironic isn’t it. When you consider that it was the thirst for money and power that lead to such moral corruption?
No wonder then that conspiracy theorists are having a field day with everything from both 9/11 & 7/7 being government orchestrated events to justify a war on terror. Fighting an unwinnable war in Afghanistan and supporting a corrupt regime essentially to build an oil pipeline. Tampering with the US constitution and stripping rights from individuals when the main focus is upon survival feeding into Illuminati plans for a new world order. The timing of Obama’s election and various 2012 (2112) prophecies. End of time forecasts, etc.
I have probably missed something out so apologies if I haven’t covered your own pet theory. Please feel free to let me know or if you would like some help with a theory you are currently forming please let me know. I’m sure, with a bit of collaboration, we could come up with something that could get some traction…maybe even a book deal!
All very tongue-in-cheek I’m sure bit I do sometimes wonder whether collaboration amongst like-minded individuals and groups may not be a values-based antidote to the morally corrupt culture at the highest levels within our financial, political and religious institutions.
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