Mervyn King: "Something went very wrong with the British banking industry and we need to put it right."

Comments

[Reality 37]

The FSA wanted to take legal action some time back. But the National Fraud Office decided against as it had had its budget cut from £50 million to £35 million so decided it could not afford legal action. So Gideon and DC are responsible for no legal action being taken against the Libor bankers. A QC just indicated all this on BBC News

[William W]

So Osborne and Cameron stopped legal action being taken against these Libor bankers? Golly. This could be a big one. More incompetence and worse. This could be disasterour. Once just the Nasty Party. Now we could be tainted with 'supporting criminal bankers party'. Not good

[Phil Kean]

Petty minds fiddle while Britain faces disaster.

I will never understand it, or our luck. For every time decisions of national importance are being made in Europe, WITHOUT a mandate, one of these petty, insignificant, Cash-for-access / Bankers bonuses / miss-selling / cash-for-honours scandals pops up to distract people's minds away from the really serious problem of whether or not the British people are going to have a country worth staying in.

It surely CAN'T be coincidence. Can it?
.

[Raj]

Phil, that's a disgraceful comment. The banks have been found engaging in inexcusable behaviour. They need to be investigated and prosecuted to the fullest extent of the law. Simply repaying their ill-gotten gains is not enough.

[David MacDonald]

We need Mr Mainwaring and his ilk back again; he would never have given you a loan, either to appear “nice” or to pocket the resulting commission but only if your financial situation merited it (i.e. you would be able to repay it). But we killed off poor old “Captain” Mainwaring in the 1960s didn’t we? His type was seen as bossy, pompous and judgemental. Now we must live with the consequences. We now have the society, not just the banks, which we thought we wanted and it stinks!

[Phil Kean]

Raj

It is much more sensible to make sure your house has a roof than it is to spend time blaming the weatherman for not warning you that it was going to rain.

The British people may not even have a country in a few years time.
.

[It doesn't add up...]

So the FSA and Fraud Office are so incompetent that they can't recognise the priorities of pursuing this case? Time for THEIR heads to roll. It has taken SEVEN years since these offences started to be committed before we even get to hear about them. Did Gordon Brown and Alastair Darling cull their budgets too? Or are they simply incompetent?

[Harry Hill]

Mainly you, Mervyn.

[john]

Obviously QE is completely fraudulant so I'd like to see Mervyn King included in any investigation. Sticking to the topic however I read something very interesting on this subject on the Slog blog implicating someone we used to see more of than we see now, when he wasn't hiding..

[John Budd]

Me thinks you have a fever Mr Phil Kean. Your obsession with things Europe is addling your brain. What exactly does "For every time decisions of national importance are being made in Europe, WITHOUT a mandate". Without a mandate. I thought we elect our government. I thought we elect our MEP's. You may not like the decision the electorate comes to by to lie that ministers do not have a mandate is delusional and a big lie. Stop it. Nobody is fooled by your ill thought through prejudice. It just makes you look silly. Stive for more intelligence. Otherwise most who read your endless boring comments about the EU will draw the obvious conclusion that your views are a bit do lally.