This is a bit rich. The British Bankers' Association has singled out Robert Peston and the BBC for acting "injudiciously" in reporting the problems at Northern Rock, the Treasury select committee heard. What a cheek! The bankers were propping up this cowboy outfit, knowing all along that it was a South Sea Bubble impersonator, and they have the brass neck to blame somebody else.
Robert Peston said, "Northern Rock, frankly, would have collapsed, it would be where it is today, irrespective of whether there had been that retail run". So come on you bankers. Face the music fairly. You have been greedy. You have been duplicitous. And you have nearly broken the back of the country.
Why should we be so bothered by your blatherings now?
Where should power lie?
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This century MPs have argued over where power lies under the heading of
devolution. The so called progressive parties have favoured devolution of
U.K. gove...
3 hours ago
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5 comments:
I love the way we say that people have been greedy as if they are wayward children who must be tolerated and might grow out of their annoying ways in time.
There is a sense that this has been a matter of style only - the wrong cherry on the cake.
Your thoughts?
You make a good point. My thoughts are that bankers have relied on a new class of movers and shakers to reward themselves as well as the bank bosses. I find it unbelievable that the bank chiefs are claiming that they did not know what was in these money laundering vehicles that have caused the banks to collapse.
Maybe "greedy" is the wrong term. Mendacious might be better. If you read Animal Farm, much of this makes sense in comparison. If you have seen Shaun the Sheep, I liken a city banker to the ways of the dog in that show. Keep on good terms with everyone on the farm, but get away with as little work as possible!
http://www.shaunthesheep.com/
British Bankers' Association here. Fair comment, if it were true. No we had no problems with Robert Peston's coverage of the Northern Rock affair, though we do have concerns about the BBC and other news outlets amplifying the effects of recession (Lucy Kellaway summarises this brilliantly in the Financial Times at http://www.ft.com/cms/s/0/17e54e16-f0c9-11dd-972c-0000779fd2ac.html).
The BBA has offered its apology on behalf of the sector and banks accept their share of the blame for this global economic downturn - but no we do not blame journalists for reporting the facts - as Robert Peston told MPs yesterday, it's nothing less than his duty.
Well, I'm very pleased to receive a reply from you and quite chuffed! You go up in my estimation by admitting a portion of the blame. We all share some responsibility.
If only our Prime Minister could bring himself to admit as much!
I'm taking my fair share of the blame for the financial downturn. http://blog.matthewcain.co.uk/the-financial-downturn-is-my-fault/
Now it's your turn, Gordon and David
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