The Grumpy Old Blog

Some of the financial moralists have come out with guns blazing, baying for Chancellor of the Exchequer George Osborne's head. "The dip of 0.7% is all his fault." "He's good on work experience but nothing else". "Sack him." "Worst double-dip for 50 years" Etc etc. Oh shut up the lot of you, you bunch of moaning, overpaid, under-talented, hypocritical wastes of space. Granted, he might preside over the most expensive fuel in Europe -  but it hasn't escaped my notice that the previous incumbents did nothing much about that themselves, did they? So come off it guys! It's not just his fault. What exactly do you want the poor man to do? It's the dishonest bankers and financially suited low lives who have got us into this particular mess. Fixing LIBOR. Gambling with our money. Offering mortgages to those who could ill afford them. Sucking millions out of us with their flatulent pay and bonuses to reward their incompetence ...

It seems to be coming a regular feature of the British way of life. The banking chiefs (not the ordinary, customer-facing members of staff, you will note), not content with their huge and immoral remunerations and unwarranted honours from HM The Queen, continue to line their pockets unhindered and unconcerned. The banking chiefs get found out. The FSA (Financial Services Authority and not the Food Standards Agency, although I suspect given the use the former has been, the latter might in all probability be more effective in these matters) does nothing, having forgotten, once again, to put its teeth in that morning. Yes, read all about their tranche of successes in Private Eye magazine every fortnight! The banking chiefs get away with it. Already on hefty 7-figure salaries, through the kindness of their own hearts, and as a wonderful, thoughtful, empty and meaningless gesture, forgo their annual bonus because of the absolute hash they make of things. Big deal, as th...