Thursday, 12 February 2009

MY BRAIN HURTS

Today, like most of us, my mind is occupied with thoughts of treacherous bankers and politicians.

Over the past five years the FSA repeatedly warned that the economy was dangerously overheating. As we now know Sir James Crosby head of HBOS was made aware of the dangers to his own bank by both the FSA and Paul Moore, the HBOS Head of Group Regulatory Risk. Did he take heed of the warnings? No, he sacked Paul Moore!

Prime Minister Gordon Brown said the Treasury was not made aware of the FSA's communications with HBOS. "There were probably 20 or 30 similar discussions going on with other institutions at the time," he said. Well that's alright then, so is this him admitting that he knew 20 or 30 other institutions had been warned too!!!

These unheeded warnings came to fruition, HBOS was one of the banks that had to be massively bailed out and Sir James Crosby resigned. We all said a collective “good riddance”. But hang on a minute – why did Gordon Brown then appoint him deputy chairman of City watchdog, the Financial Services Authority? Is there something I’m missing here?


And how can Gordon Brown possibly claim that this recession could not have been predicted? As I have said many times before, I’m just a simple woman trying to live my life honestly. I love my family, respect my colleagues and am very loyal to my Country. Even I predicted that this would happened.

As we speak the banks are still up to the same old tricks. The big banks are currently offering a raft of “Guaranteed” bonds. High interest, no income, no transparency and gobbledy-gook small print. Despite being advertised as “Guaranteed” the only guarantees they offer are minimum risk with maximum earnings to the bank and maximum risk with minimum earnings to the punter.

And while I’m ranting. How is this going to work?

Take a Country, any Country, with good citizens willing to place their lives and trust in the stewardship of their leaders. Watch these “leaders” rip the heart out of its economy until most businesses either have to implement severe cutbacks or go bust and unemployment spirals out of control putting the good people in fear of their very existence.

At the same time pile Pollyanna tax money into the already overpaid and overstaffed NHS, build new schools for illiterate, innumerate children to be taught by untalented, uninspired teachers, increase the already sickeningly high numbers of disheartened, demoralised and totally unhelpful public sector workers, council workers, Whitehall mandarins, dream up new harebrained Government backed schemes, government reviews, public awareness PC infomercials etc.

This silly old woman thinks “ummm? tax payers are getting a bit thin on the ground here, how are these mad schemes and top heavy public service sector jobs going to be funded?” As I say, maybe I’m missing something here.

And finally …. I smile because I don't know what the hell is going on.

16 comments:

Maggie May said...

The more money that is pumped in the worse it will all get. Once GB started borrowing and selling off all the assets, we were doomed!
Sorry to be so negative!

menopausaloldbag (MOB) said...

I like maggie May's comment that we are doomed! Reminds me of the wee Scots soldier in dads army who went around saying "We're doomed, We're doomed!" The HBOS situation is rancid and the lot of them at the paliamentary session looked as shifty as hell. Greedy sods who are incompetent and the only joy I got was that they lost so much personal money as they reinvested their bonus' back into their silly schemes! There wasn't any women in the line up though eh? same ol same ol in British business!

Strawberry Jam Anne said...

We are in a sorry state and I wonder how much further down we will be going. However, I watched gleefully as those *ankers were given the "third degree" publically! Greedy, greedy *bleeps*. A

Retiredandcrazy said...

I like it Maggie. Question - is there anyone who actually likes GB?

Retiredandcrazy said...

Lovely words MOB and Maggie, rancid and doomed. So explicit!

Retiredandcrazy said...

Interesting times Anne.

Valleys Mam said...

There is a way out , but it takes balls. So I guess we need the women to do it !!!

Sandi McBride said...

and meanwhile across the pond, where they've cut banker bonuses to the bone, some are crying "there will be a brain drain if they don't get their money" and I'm saying "GOING TO BE a braindrain?" I think that ship has sailed...oh well my friend, sometimes it's to late smart...often deaf...mostly blind...
But we'll muddle through...
hugs
Sandi

Eddie Bluelights said...

Couldn't agree with you more, Retired and Crazy. I think Gordon Brown should be retired because he certainly is crazy. I have dealt with his incompetence in rather unusual styles on my blog on the last two posts and I invite you to have a peep. I am new to blogging but please be patient with me. As Manuel in Fawlty Towers said, "I will learn! I will". I've just noticed someone called Maggie May who appears to have a good grasp of the situation. As it is we appear to be doomed.
Best wishes

Retiredandcrazy said...

Thanks for visiting Eddie Bluelights. I tried to leave a comment on your latest blog, but your word verification doesn't seem to be working. This is what I put :-

Here I am mesmerised by your blog when I should be doing "stuff". The "b" blog was exceptional, how did you manage to do that? And as for Edna...I now know what I will be when I grow up. I will be Edna. Keep up the good work my friend, and thanks for you visit.

Retiredandcrazy said...

Good morning VM, I hope your balls are in good shape because you may be needing them soon!

Retiredandcrazy said...

Hi Sandie, the latest from this side of the pond is that the bankers are complaining about not receiving bonuses and want a 10% salary increase to compensate. And who said they didn't have balls?

They along with the public sector workers need to live in the real world with the rest of us who have had to either take redundancy, a cut in pay or reduce hours.

Eddie Bluelights said...

Thank you very much for your encouraging comments. You asked how I did the 'b' blog about Gordon Brown. "Terribly tricky, takes time". This style of writing is called illiteration and is out of vogue at present but our forfathers used it quite frequently in the old music halls. I wonder if I should send it to David Cameron.
It is a shame the word verification did not work. I find that it does work sometimes when I try again.
I would be very honoured to add your blog to my follow list if I have your permission. Bye for now.
Eddie

Retiredandcrazy said...

Welcome aboard EB. We may be in for a bumpy ride!

Jean Genie(us) said...

Is anyone here receiving the phone calls I am offering me loans. Hellooooooo What the hell are these banks doing

Retiredandcrazy said...

You are getting phone calls offering you loans? Are you sure?!