Saturday, August 18, 2012

So what are our hugely overpaid and useless legislators going to do NOW?

Read the Parliamentary report on Bob Diamond, Barclays etc., from this link.

Well, NOW WHAT?

1 Comments:

OpenID Roger said...

Precisely nothing.

I have often wondered whether regulators deliberately allow wrong-doing in the interests of the smooth running of society. What is so wrong with everyone being robbed a little bit in order that the banks run profitably and keep the economy turning over. Similarly our 70mph speed limit is widely ignored - probably because no-one could get around adequately if everyone stuck to the law.

Then there is the enquiry and MPs whining that Mr Diamond may have been less than open. What the hell do they expect? You can be pretty sure Barclays had the lawyers crawl all over his responses, he may well have been coached, these are exactly what any sensible person would do facing our adversial legal system. Remember the job of a lawyer is to deliver a 'carefully edited version of the truth'. The MPs - many of whom are lawyers - would expect this and yet carried out the cross examination in an amateur fashion. Probably the real reason is that it would be inconvenient if the truth came out - that The Treasury knew exactly what was going on and deliberately did nothing - just saying....

7:30 AM  

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