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Showing posts with label The UK Financial Establishment. Show all posts
Showing posts with label The UK Financial Establishment. Show all posts

Wednesday, 15 December 2010

The Banks and the FSA's Adventures in Wonderland - UK Establishment smoke and mirrors

The UK Financial Establishment switches on the smoke machine.

FSA: "We won't publish our findings ..." Cries of outrage. "OK we will, then - but only part of them, and not until March ..."

Nobody is to blame, nobody is held accountable, nobody will be prosecuted, nobody can be sued, but "lessons will be learned ..."

Oh, yeah? Until the next time, when they do it all over again. Are these people beyond the law? Are they beyond shame?

The Americans showed no such mercy to their errant bankers - at least some of them got their just deserts. The US still has some remnants of an accountable democracy and a free press, unlike the crumbling and corrupt United Kingdom.