Here's a poser for you. What if, come next Spring, the British economy is still in dire straits. Will Cameron, Osborne and co. still be trying to blame the previous government? This now tedious tactic is utterly disingenuous because the blamers know perfectly well where the real blame lies. George Osborne's great plan to control the banks, Project Merlin, is such a paper tiger it could have been fashioned in a children's origami class. It wasn't intended to really hurt banks at all of course, only give the appearance of it. So much for re-regulating them. The truth is, the Tory part of our government is in cahoots with the bankers, who financially assist that party. So the Tories don't want to blame them. They are happy to bang on blaming Labour, who must also have been busy wrecking the economies of Ireland, Greece, Portugal, Spain, Italy, Timbuktu and wherever. Anyone who genuinely cannot see that there is a global financial crisis, a crisis caused by the wheeler-dealers in the finance industry, quite frankly should have a white stick and a guide dog. On Saturday, in the Business section of one of the tabloids (no less), there was the headline: 'British banks in probe amid collusion charges'. The article attached to this headline indicated that Barclays, HSBC and Royal Bank of Scotland, along with '13 other banks', are facing investigation over 'possible' financial irregularities. Also mentioned were Goldman Sachs, JP Morgan, Morgan Stanley, Citigroup, UBS and Credit Suisse. If any irregularities are proved then the guilty will face penalties costing millions. It rather reminds me of the Enron situation which emerged in the early 2000s. Even the accountants/auditors then, Arthur Anderson, were implicated in the scandal which came to light. Enron was paying them $1 million a week to go easy on the auditing. It turned out the top guns at Enron were paying themselves megabucks, and awarding each other share options worth fortunes. That's how the accounts ended up having to be covered in whitewash. As with fat cats then, so with fat cats now. So it's right that somebody should be looking closely at the bankers' accounts. Cameron and Osborne certainly won't do it.
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- 2011-04-30 @ 23:13:10
Tony Blair was still blaming John Major 6 years into his leadership. Don't expect this lot to be any different.
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- 2011-05-01 @ 10:25:47
You have to laugh at such a lack of decorum. It makes me wonder if they have any perceived cut-off point for blame acceptance.
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- 2011-05-01 @ 16:58:57
Take a look at The Telegraph today (1st May) regarding a report on the 'Big Four' accountancy firms.
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- 2011-05-02 @ 18:12:57
100% Right. Correct on all points. We will just have to keep on saying it.
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- 2011-05-03 @ 10:42:19
Thanks liz. Why don't you join in with a post adding to the issue? I've seen your earlier contributions, good sensible stuff.
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- 2011-08-10 @ 18:06:24
revolutionnotontv.blog.co.uk is bookmarked for future reference!
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- 2011-09-29 @ 12:26:46
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