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“I’m sorry”. Three words that can be uttered regardless of the true underlying feelings. Very often they are words we don’t hear enough. But in some contexts they are words you just don’t want to hear!
Of course I am referring to the Parliamentary Select Committee hearing on the bankers and their incompetence. Now I use this word advisedly. How else do you explain their lack of understanding of what has happened? And worst of all if the Earth spun backwards and their time came again they would repeat exactly what they did.
The truly shocking thing is how the ex Chairman and Chief Executives of HBOS and RBS tried to garner sympathy by saying they had lost their own money as well – big deal!
The spectacle of watching the interrogation was some of the best TV I have seen for a while. But how tough given the scale of misery and poverty they have heaped on the public for the sake of their largess and greed, is sitting in the House of Commons for a day being questioned? I don’t think they would even care about the vilification through the media.
And worst of all you just know that all these grandees of society and social networking will just be given new roles to destroy new companies. We seem to be singularly exceptional at rewarding incompetence and forgiving catastrophe. For sure, what ever shape the banking system comes out of this debacle. Nothing has been learned and greed will be a key driver in the future as well.
They could at least bring back the stocks!
13 Feb 2009 09:13:32