Anti-business philosophy damaging Britian
If you haven't watched this, do so,
http://www.bbc.co.uk/iplayer/episode/b04t6jy1/panorama-did-the-bank-wreck-my-business
It tells of how banks, especially RBS, are destroying British businesses. The most damning bit is when Dereck Sge, the head of Global Restructuring Group, the dept of RBS that deals with businesses in trouble, and deputy CEO Chris Sullivan, tell MP's that GRG is not charged with making a profit for the bank. They are very firm about this, yet a month later had to admit that, as a RBS whistle blower had claimed, that it was there to make money. They apologised for what they called a mistake. So, the deputy CEO and the actual boss of GRG didn't know what its purpose was. Yea, right!
Somebody asked the government what they'd done about this.
"Well." said a government minister, "banks are commercial enterprises, and we can't tell them what to do."
"But we own most of RBS!"
"Well, yes," the minister added, "but it has to allowed to run on commercial banking lines, so it can be sold back to the private sector."
"But it's been defrauding its customers through PPI and interest rate swaps, committing crimes on the exchange markets, and now we learn it's destroying jobs too!"
"Ah," the minister replied, "I see you nothing of banking. What you've just mentioned is normal banking behaviour."
"Surely the government shouldn't tolerate this?"
The minister frowned before replying. "Are you a commie?"
http://www.bbc.co.uk/iplayer/episode/b04t6jy1/panorama-did-the-bank-wreck-my-business
It tells of how banks, especially RBS, are destroying British businesses. The most damning bit is when Dereck Sge, the head of Global Restructuring Group, the dept of RBS that deals with businesses in trouble, and deputy CEO Chris Sullivan, tell MP's that GRG is not charged with making a profit for the bank. They are very firm about this, yet a month later had to admit that, as a RBS whistle blower had claimed, that it was there to make money. They apologised for what they called a mistake. So, the deputy CEO and the actual boss of GRG didn't know what its purpose was. Yea, right!
Somebody asked the government what they'd done about this.
"Well." said a government minister, "banks are commercial enterprises, and we can't tell them what to do."
"But we own most of RBS!"
"Well, yes," the minister added, "but it has to allowed to run on commercial banking lines, so it can be sold back to the private sector."
"But it's been defrauding its customers through PPI and interest rate swaps, committing crimes on the exchange markets, and now we learn it's destroying jobs too!"
"Ah," the minister replied, "I see you nothing of banking. What you've just mentioned is normal banking behaviour."
"Surely the government shouldn't tolerate this?"
The minister frowned before replying. "Are you a commie?"
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Comments
The days of the local bank manager who knows local people and businesses, and their financial needs are gone. We need to get back to that.
Although, I wouldn't say anti business philosophy in banking is all to blame. There are strong anti free market attitudes in government and wider society that is having just as much of an impact.
Just as government is also anti-science and engineering. It's a prejudice that these people learnt at school/university.
They are pro-bank. So that's a bit of a problem.
We clearly need a political revolution in the UK. Some practical hard-nut to take control of either Labour/Tory and steer them away from this Oxbridge humanities crap.