Bureauspeak

We fucked up so pay us more.

The correct answer is of course to close them down and get the Bank of England to do it.

6 thoughts on “Bureauspeak”

  1. I loved this bit:

    Also, earlier this week Hector Sants, the chief executive of the FSA, said : “We’re sorry that our supervision didn’t achieve all it should have done.”

  2. The correct answer is of course to close them down and get the Bank of England to do it.

    Which it cannot, with its net worth of £2bn. The BoE has never been in a position to take a folded bank onto its books without Treasury intervention tantamount to nationalisation, and George Osborne has been profoundly dishonest in pushing this snake oil.

    As your local talking points cache hasn’t been refreshed yet, let me inform you that as of today you’re meant to be supporting a Heathite industrial strategy.

  3. I have a vague impression that this Turner chappy has been around for ages and has always been a silly, posturing twat. Am I wrong?

  4. Alex,

    Tim is talking about closing the FSA down and letting the BoE regulate the banks (as it used to), not run them.

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