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February 12, 2009

Revelations of the other half?

The public vilification of the banks, banking system and bankers by our political lords and masters in Westminster and Whitehall has been revealing. Not least because the politicians and their worthless henchmen the Civil Servants, are obviously trying to cover their own tracks and push all the blame onto the bankers. Mind you, the bankers aren't doing themselves any favours whinging about not getting bonuses that are measured in multiples of salaries that most of us could not dream of earning in a lifetime of hard and dedicated work - often with responsibilities that are measured in the potential to lose lives. I'm afraid that the revelation that one of these "poor, hard done by" individuals earns £60k per MONTH was enough to have me spitting with rage. I never managed to achieve that figure per year, and sometimes was charged with protecting the assets this and other buffoons like him have squandered, risked or thrown away and given away to foreign investors.

Coupled with that was the revelation that not one of the bankers interviewed has a single Institute of Banking or any other body's qualifications in banking! All are MBA "generalist" managers who skip from one disasterous senior management position to another without any knowledge of what the company they "manage" does or how the staff who do it, actually achieve whatever it is. In other words, they can read a Balance Sheet and little more.

Just shows, I should have made a play for a different career - I too can read a Balance Sheet and the "Bottom Line". I suppose the only satisfaction is that the man who set up one of our biggest banks for a fall and was rewarded by Gordon Brown with the Chairmanship of the Financial Services Authority - fancy Civil Service speak for "bugger us - we don't know either" - has been forced to resign now that his role in the collapse has been exposed. Mind you, he'll probably be laughing all the way to the bank - his salary was large enough to make our eyes water and now he'll have some gold plated pension benefits due as well.

Ce la vie, as the French say.....

Posted by The Gray Monk at February 12, 2009 09:16 PM

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