With the latest round of scandal (Libor rigging) and it
fines for misbehaving and or lack of adult supervision (500 Million Pounds to
date more fines are expected), and now the specter of bonus (250 Million Pounds)
being paid to the employees some of whom are in real need adult supervision. It should be apparent and well past the time
for someone in the Government of Prime Minister Cameron to end this mess. Perhaps the Right Honorable George Osborne
should lead this endeavor, after all this mess is in his portfolio, come to
think about he might already have been dusted up by this situation.
I would have hoped that somewhere someone in the ministry
would have developed a plan to take the beast out into the field and put it
down, or was it the Prime Minister, the Chancellor, the members of their staff
and the Bank of England’s plan just to pour money down the hole until it filled
up?
From the outside it appears that most if not all of the
issues with the Bank lie on the commercial/investment side of the house. If that is the case, then this operation
should be removed from the rest of the group.
The commercial/investment banking part could be sold to some
other unsuspecting buyer with the condition that any and all future liabilities
(Criminal or Civil) for past actions are the responsibility of the buyer. The other condition is that the buyer cannot
be on life support from the crown. That
just moves it from the pocket on your right to your pocket on the left, you
still have the stinking mess in your pocket (Mother would not approve).
Maybe the problem can be exported to either the Germans
(they have lots of money) or possibly the American (they did not learn the
first time around), who knows after all a sucker is born at least once every
minute, even a stop clock is correct at least once a day.
If the commercial/investment entity cannot sold off whole,
or possibly sold off piece by piece. If
is not possible to sell off the old sod then it certainly can and should be
scrapped.
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