Comments on: No prospects

By: Eric Leach

Eric Leach — Sat, 29 Aug 2009 11:49:01 +0000

I think you are missing the point here. Many, many people are furious about the banks; angry about excessive bank salaries and bonuses; and have been damaged by bankers reckless lending and dealing in exotic financial products which most of us and senior bank officials don’t understand.

Voters are also annoyed that the Government, the Tories, the regulators and the auditors never sounded any warning bells of any note in the years leading up to this financial collapse.

So people are looking for all these august communities to come up with ideas and initiatives to try and ensure that the financial bubble doesn’t keep bursting over and over again over the next few decades.

Turner’s ideas might not work. I suspect making it more attractive for the Michael Ashcroft’s of this world to return to the UK probaly won’t fix the problems either.

There are plenty of new books to read on the subject of how and why the financial crisis came about. Might I suggest you read that ones written by Paul Mason, Gillian Tett and Vince Cable.

By: Geoff M

Geoff M — Fri, 28 Aug 2009 16:29:56 +0000

Don’t forget Turner’s risible “climate change” report.
This is a man who has been promoted far above his pay grade.
With no obvious capabilities, other than that of waffling, I expect his government chums will have him in charge of the next big quango to come up.

By: Wat Tyler

Wat Tyler — Fri, 28 Aug 2009 08:39:22 +0000

Spot on about this being a wholesale banking crisis.

Going forward we need to find a way of restricting taxpayer guarantees to retail depositors. Wholesale players should be under no illusion – they are on their own. That would soon concentrate a few minds, and make the big banks far more wary about placing money with spivvy institutions.