Results tagged “Financial Services Authority” from Birmingham Mail - Is It Just Me

Now we all know that if the banks go belly up then we could all find ourselves back in the good old days of trading animal pelts for turnips to get by. If you have no animal pelts or don't like turnips you starve - it is a simple system.

So to avoid that the Scottish one and his Darling go rushing off to the City with containerloads of cash to bale out the banks, who let us be honest, got themselves into this mess in the first place. How anyone can lose money when that is what you are selling beggars belief but there you go.

Doesn't it remind you of when Rover was on life support and the Government came galloping in like knights in shining armour armed with oodles of cash to save Longbridge and thousands of jobs in the West Midlands and beyond - as well as ensuring, of course, we still had a home produced car industry - just like Citroen and Peugeot in France, or VAG in Germany.

Probably not. In they came with just enough cash to keep it afloat until the local elections were over to dilute the news until the votes were counted and then the car workers of the West Midlands were left to the chill winds of market forces. I am not saying that banks should not be shored up - as long as those in charge of the disaster are sacked - but there do seem to be dual standards at work here.

As for the Financial Services Authority? This is another one of the Scottish one's creations and is supposed to regulate and monitor the financial markets, spotting and ending any dodgy dealing before it becomes a problem. Well that worked out well didn't it?