No transparency = no trust


The Head of FSA tells us/them that: Banks Must Restore public trust

He should realise by now that, until such time as regulatory bodies and politicians ACT to force change, this will sound like yet more sabre rattling in an attempt to fool the public…or have grown I too cynical!?

BBC – Peston’s Picks
“It is counter to common sense and social justice that taxpayers should insure investment banks, which are no more socially or economically useful than any other kind of imaginable business”.

Are these the same taxpayers that elect governments and own banks!!?

“The level of debts written off because defaulting borrowers will never repay them shot up in 2009, Bank of England figures have shown”.

Oh no(!), how the hell could that happen??? It’s OK I am only kidding. I do remember.

THE MESSAGE TO BANKERS FROM GOVERNMENT: Don’t worry about it. Don’t fret for your professional reputation, financial penalty, prosecution or the impact of your collective actions upon your relations, neighbours and fellow citizens – we really should be happy to help – For, as long as the routine is to “privatise profits and socialise losses” and tiptoe around regulatory change nought will change.

 
 

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