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.