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September 20, 2007
Pass the parcel?
Watching the news at lunchtime today I was treated to the edifying spectacle of the Governor of the Bank of England being blamed by the policticians for the Northern Rock debacle. The Governor made several very telling points which the MP's (I noticed that they all appear to be Scottish) tried to pin the blame for the whole thing on him. HIs most telling point in my view was when he pointed out that the mechanism which would have allowed him to act earlier and secretly had been removed by the very same MP's, their Civil Service Poodles and Brussels ealier this year.
The law was changed, according to the rationale of Brussels and our ever incompetent bureaucrats and politicians, to guarantee "openess". Kick in the Law of Unintended Consequences immediately. Since the Bank now has to publically announce what it used to do quietly and perfectly legallywithout the gutter press having the opportunity to create panic, was now conducted in public, guaranteeing that panic would ensue in the minds of the idiots who spent days queueing outside a bank that was never in danger of going under.
So now we will have the spectacle of our "New Elite" power freaks doing their damndest to hang a man who has to operate under the rules they have set up - and which patently don't work. Of course it's not their fault.
Posted by The Gray Monk at September 20, 2007 02:00 PM
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