How many rabbit pelts for a chicken balti, squire?
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?
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Roger Clarke - Birmingham’s very own Grumpy Old Man on what gets right up his nose.
I'm not sure whether its because im stupid but I cannot for the life of me work out what this article is about and i just dont understand what you are talking about. Can someone explain to me?
Basically when it came to Rover going belly up then apart from chucking in a few bob to keep it going until after the local elections the Government did nothing and cared even less about the loss of thousands of jobs and livelihoods and the end of a British car industry, citing market forces.
Other nations, notably the French and Germans and to some extent the Italians quite happily support their motor industries but that seems to be beyond Britain.
Now when the banks are drowning in a sea of debt created by their own greed and ineptitude the taxpayers are having to bale them out to the tune of squllions. The banks have us by the tender bits though because they know that no Government can afford to let the banking system collapse.
One of the reasons for this whole mess was Government policy to deregulate the financial industry to reduce so called red-tape and restrictions and to bring in a new watchdog, the Financial Services Authority, as regulator with teeth that make an octogenarians’s gums seem sharp.
The Government are now saying that the FSA needs to be toughened up which brings horses, stable doors and bolts to mind.