A View From Middle England - Conservative with a slight libertarian touch - For Christian charity and traditional belief - Free Enterprise NOT Covert Corporatism

Thursday, September 04, 2008

Credit crunchers get the debit touch

It is beginning to look like some of the credit crunchers are being rounded up and asked to explain themselves in court. Not before time, I say. It seems most bank executives are living in a parrallel universe, devoid of any conscience regarding their scams and schemes. Two former Credit Suisse bankers have been charged with fraud for allegedly deceiving clients over the value of debt tied to sub-prime mortgages. I can't believe these deceptions were only known from one side only. Maybe they were, but far more has be known than is now being publicly declared.

I feel the only way to get out of this sub-prime mess is to get the boards of ALL banks in front of those who should have been monitoring them and ask the age old question "What did you know and when did you know it?" Because until we get a spilling of the beans, this will rumble on for ever!


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