edam
flatpack, nice try at blaming the regulators but it's stretching it a bit too far to pretend they are the only ones to blame. The FSA didn't hold the bankers at gunpoint and order them to cheat and lie.
When there's corruption in any field, the regulation and policing of that field is important. If - as Gordon Brown did - you make a system which encourages corruption, then corruption will take root. I didn't, of course, pretend that regulators were the only ones to blame although it's easier for you to dismiss my arguments be pretending that I did.
The banking and entire financial industry is rotten to the core. We've seen scandal after scandal, seen the real economy brought to its knees by the bankers and traders, seen customers and taxpayers exploited - and this is only the start of this latest scandal. No doubt more skulduggery will be revealed as the Libor story unfolds.
Indeed. We're already seeing evidence of collusion from senior members of the Treasury under Gordon Brown. Perhaps that'll also be the fault of the bankers and not Labour?
We need root and branch reform - of the kind Sweden very sensibly carried out when they had their own banking scandal a decade or so ago. No more spivs and gamblers holding everyone else to ransom. No more senior employees taking all the profits while taxpayers take the pain. No more politicians in hock to the banks. Just as Murdoch's hold on politicians and the police has been broken, so must the bankers'.
Yes, and I'm sure an economy whose primary industries are wind turbines, tofu and the BBC will pay for all the Sure Start centres in the galaxy.
Who do you think forced taxpayers to bail out RBS and Northern Rock, and who do you think forced Lloyds to take on HBOS?