We will put people first, not bankers

Observer Article:
Date: Sunday 22nd Feb 2009

Another intrinsic part of the foundations must be better governance of banks. Their boards must have the expertise and power to challenge management and they must be able to understand the risks the company is taking.

But as we design this new regulatory system, we have to be clear as a nation about what we expect from our banks and clear, too, about how people, who depend every day of their lives upon banks, expect these vital institutions to be run. For, distant as the relationship between banker and client has become, the restoration of trust, the most precious asset of all, to the heart of that relationship must now underpin all that we do. – Gordon Brown

Original Article ( Observer)

Oh thank goodness Gordon has gotten to the bottom of the financial crisis; it’s all about trust, or is it confidence?

Either way, he’s talking nonsense. Total nonsense. It’s not about trust, it’s about a system that is not geared up to meet human needs any more. It has ran its course. It has thrown humans on the scrap heaps of life, yet again. This time, is there a way for them to get off of those heaps?

And Gordon still thinks that he can play with the edges, tinker with the “rules”, and it will come back in a better, more human worthy format?

This is total insanity and misses the global point of the system as a whole; it is not designed for humans, just operated by them.

Choose another way folks.
Peace

This entry was posted in economy and tagged , . Bookmark the permalink.

One Response to We will put people first, not bankers

  1. Cat says:

    “Their boards must have the expertise and power to challenge management and they must be able to understand the risks the company is taking.”

    This implies that they don’t have the expertise nor understand the risks the company is taking…that in some way they just need to be better trained not that in fact they were greedy to make more money as the current system demands of them.

    So if we’re clear as a nation then we should expect our banks to what? not invest, speculate and make more money? Because that’s what the business of banking is. What can change that within the current system? New regulations? I don’t think so.
    Dream on or do something.
    http//www.realityinfo.org

Leave a Reply