Is saying sorry enough?

[Scottish Business Owner]

You probably will have seen Fred Goodwin and company saying sorry about the mess they created with the banks. We also hear today that James Crosby has resigned from the FSA and you cant help wonder how much it has to do with this whistleblower.

This must also be causing Gordon Brown some embarassment seeing as Mr Crosby has been knighted etc for his so-called "contribution"

I guess where i'm betting to here is Is it enough for these people to say sorry and expect us all to just accept it or should the government etc be looking at ways to hold these type of people accountable in the future in some legal sense? Do you think it would actually make a difference in the decisions and choices they made?

Or is there some justification in them saying it was all down to the collapse of wholesale markets and not their fault at all?

I know where my views are :cursing:

 

[Power Lunch Club]

The real issue is the behaviour of the banks is still the same, nothing has changed.

They are still out for themselves and not really interested in SME's

 

[TomB]

To be honest it was a pathetic waste of time, they couldn't have cared less.

Especially the one that was earning £60k a week as a consultant for the bank.

Then whent they asked the RBS guy about the ABn fiasco, his response was laughable.

I mean my faith in the british banking system is totally restored. :w00t:

And not one of them had a formal qualification in banking, i mean the mind just boggles as teh shear stupidity of these coporate idiots just throwing the odd few billion of our money around as they please, :cursing:

They should be put in stocks and let the public throw rotten fruit at them :thumbup:

Just to help my faith even more my bank sent me a statement of charges for my business account today, very good of them like. I still have 6 months free banking left and they haven't paid any interest on my account in 18 months. and it only took them 2 months to open the account.

You've got to love the useless old, erm I mean good old british banking system

T

 

[Power Lunch Club]

To be honest it was a pathetic waste of time, they couldn't have cared less.

Especially the one that was earning £60k a week as a consultant for the bank.

Then whent they asked the RBS guy about the ABn fiasco, his response was laughable.

I mean my faith in the british banking system is totally restored. :w00t:

And not one of them had a formal qualification in banking, i mean the mind just boggles as teh shear stupidity of these coporate idiots just throwing the odd few billion of our money around as they please, :cursing:

They should be put in stocks and let the public throw rotten fruit at them :thumbup:

Just to help my faith even more my bank sent me a statement of charges for my business account today, very good of them like. I still have 6 months free banking left and they haven't paid any interest on my account in 18 months. and it only took them 2 months to open the account.

You've got to love the useless old, erm I mean good old british banking system

T

Here here Tom, public flogging!!!

 

[DickW]

For a long time now I've been convinced that what we really need in Scotland is a new mutual bank. It's high time we dumped the present lot cos they're making no contribution whatsoever to growing the Scottish economy. :cursing::cursing::cursing:

 

[visagephoto]

I couldn't believe the size of the house James crosby drove away from in the news recently, obviously paid for with taxpayers money!

I think these people should be stripped of all their personal assets, and the money recouped should be re-invested into the economy, They should then be sent to prison as a lesson to their replacements.

1 - 2 - 3 - 4 - 5 - 6 - 7 - 8 - 9 - 10 - ah, that's better.

 

[shredder]

If the government want to encourage banks - and in particular the government owned banks, to lend to SMEs etc why dont they used the tried and tested method of basing the bankers bonuses on the amount of loans they give to that sector - should get things moving in no time at all.

 

[Gordon N]

If only that would happen! :001_rolleyes:

 

[Mark Lister]

Duncan Bannatyne has an interesting take on what happened. He blames the crisis on banks lending to each other. It ended up with masses of hypothetical money faster and faster round the system. So the banks made up all sorts of weird and wonderful new ways to try and make money out of money.

Bannatyne says you don't get supermarkets lending carrots to each other when stocks get low - it should work the same with money. Then you've got just one central source, and realtime market forces cut in.

What these guys did was to pretend they were above market forces. As we've found to our cost, not a good attitude for our most senior bankers to take. Although they found market forces a very convenient excuse for ramping up their demands for colossal salaries and bonuses.

 

[amestaper]

Only a suggestion...

I reckon paying off every single mortgage in the country would be cheaper than what it cost to bail the banks out. That would surely leave people with more pocket money to spend the country out of recession rather than let the guilty walk away untarred and feathered like they should be. :cursing:

Do you think this downturn has made a slight bit of change to their spending habits and lifestyle? I think not!