Bloody bankers

[Mich the Tester]

many MPs you can bribe

HTH

Now then, Cyberman has a point here. Given that those who are responsible for our medical treatment are required to spend 7 years studying medicine, those who drive the train we take to work are required to pass a very tough training period and those who fly aeroplanes are required to gain a pilot’s license, those who write our company reports have accountancy qualifications and many of us in IT have gained professional qualifications during our careers, is it not reasonable that those responsible for looking after our money should be required to have proper banking qualifications?

That guy Tom McPillock at RBS admitted yesterday that he didn’t know what a credit derivative is. He was chairman of a company that traded billions of pounds in products that he knew nothing about. That is gross incompetence, and indeed I think criminal negligence on the part of him, the rest of the board and those who appointed him.

[ratewhore]

Now then, Cyberman has a point here. Given that those who are responsible for our medical treatment are required to spend 7 years studying medicine, those who drive the train we take to work are required to pass a very tough training period and those who fly aeroplanes are required to gain a pilot’s license, those who write our company reports have accountancy qualifications and many of us in IT have gained professional qualifications during our careers, is it not reasonable that those responsible for looking after our money should be required to have proper banking qualifications?

That guy Tom McPillock at RBS admitted yesterday that he didn’t know what a credit derivative is. He was chairman of a company that traded billions of pounds in products that he knew nothing about. That is gross incompetence, and indeed I think criminal negligence on the part of him, the rest of the board and those who appointed him.

Indeed. But more importantly, thanks to AtW's avatar, we now know what he looks like...

[Cyberman]

Now then, Cyberman has a point here. Given that those who are responsible for our medical treatment are required to spend 7 years studying medicine, those who drive the train we take to work are required to pass a very tough training period and those who fly aeroplanes are required to gain a pilot’s license, those who write our company reports have accountancy qualifications and many of us in IT have gained professional qualifications during our careers, is it not reasonable that those responsible for looking after our money should be required to have proper banking qualifications?

That guy Tom McPillock at RBS admitted yesterday that he didn’t know what a credit derivative is. He was chairman of a company that traded billions of pounds in products that he knew nothing about. That is gross incompetence, and indeed I think criminal negligence on the part of him, the rest of the board and those who appointed him.

I must admit that Credit Derivatives did not exist in 1979, but all professionals should obviously have some idea of what their business is about, especially if their jobs and the jobs of people in the wider economy depend on it !!!

[Cyberman]

Indeed. But more importantly, thanks to AtW's avatar, we now know what he looks like...

[pmeswani]

Indeed. But more importantly, thanks to AtW's avatar, we now know what he looks like...

That has got me in stitches. Thanks a lot.

[Cyberman]

That has got me in stitches. Thanks a lot.

[pmeswani]

Put that thing away. Public order offence is not needed here.

[Moscow Mule]

<snip>
That guy Tom McPillock at RBS admitted yesterday that he didn’t know what a credit derivative is. <snip>

I think the FSA say you only need to know what it is if you're (personally) trading it.

I agree with the general sentiment.

[Mich the Tester]

I think the FSA say you only need to know what it is if you're (personally) trading it.

I agree with the general sentiment.

This is, I presume, the same FSA as was run by that guy who sacked the HBOS risk manager for daring to tell the truth.

[Doggy Styles]

The FSA are useless. Has anyone read the statement by that compliance bloke who HBOS sacked years ago for warning them about their stupid risk-taking?

Who set up the FSA anyway?