May 2024

How Goodwin and Diamond must laugh at our politicians’ and BoE’s fake outrage

Give Liar Cameron an Oscar. Look how well he’s acting the part of an innocent politician outraged by the dishonest behaviour of his very close banking friends. And one for Mervyn King too. What acting skills, what a convincing delivery. Perhaps Mr King has forgotten that in 2005 I reported Fred Goodwin to the Bank of England by informing a very senior BoE official where he could get documentary evidence which suggested that Fred Goodwin was involved (in my opinion) in a £50m fraud and therefore was not a fit person to run a bank. But what did you and your colleagues do, Mervyn? Nothing! In fact worse, you all protected Fred Goodwin, because he was a good mate of Tony and Gordon, and lost British taxpayers £45bn and counting.

And now Mervyn and Cameron and the head of the FSA are all (in my opinion) pretending they knew nothing, that they are very angry indeed and that they will maybe consider making new laws sometime in the future to close the stable door after the horse has bolted. As far as I can see, criminal acts have been carried out and those responsible should be prosecuted and have their very considerable assets seized. With Goodwin – what about knowingly running a business when it was insolvent, false accounting, misrepresentation and defrauding shareholders? Just these would be a good start for the police. As for the Libor manipulators – there could be obtaining money by deception and fraud. So Cameron and King shouldn’t be hiding behind the excuse of needing new laws – our existing laws are quite sufficient to bring prosecutions and seizures of assets

But, of course, there won’t be any prosecutions and there definitely won’t be any seizures of assets because our politicians, bankers and regulators are all in this together. So let’s hand out a few Oscars to Cameron, King, Turner and many others as they (in my opinion) brilliantly act as if shocked and horrified when (in my opinion) most of them probably knew what was going on all along.

As for RBS, they claim to have sacked a few traders for the rate-fixing scam. But did they really sack them? Or did they give them millions of taxpayers’ money on condition they left quietly and didn’t tell anybody how deeply RBS bosses were involved in this and other scams? 

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