Monday 2 August 2010

Basel is more like an old Brush

Now I don't know any bankers. You might think a man of my standing would, but I don't. Probably just as well for them otherwise when all that shenanigans with the banking system happened, I'd have been after them with my riding crop and a blunderbuss. The hunt needs something to do, as well.

I happened to be down at the Wagon and Tax Break over the weekend and was drinking with an old Warboys man, Don Merryweather or as he calls himself, these days, Donald D Merryweather.

We happened to get onto the subject of the banks with Donald being a Financial Consultant, as you would. Do you know these dashed bankers are sorting their dirty linen behind closed doors in Switzerland? I say, dash it all... any other industry and we'd have a public enquiry but not the banks, evidently. No doubt, they will come up with a lot of technical jargon and then expect the rest of us to believe that they have imposed a lot of strong regulations on themselves!

What are those lily livered political types going to do about it? That's what I want to know. We are all grown ups and despite what these banking types may think, a lot of us understand business and finance, too. So here's my personal challenge to them... come out of your closeted, velvet cushioned seats at your antique walnut veneered table and talk to the rest of us in plain language because we want to hear how you are going to do things better in future.

Let's not forget whose money saved your bacon. And let's also not forget that we are all suffering as a consequence of your inability to regulate your industry properly. And by the way, when we talk about not wanting you to take big risks, that's not an excuse to keep down interest rates on our savings nor declining investment in small businesses.

Basel (well alright, pronounced improperly)... it's enough to make a fox laugh.

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