BureauspeakOctober 17, 2008 Tim WorstallFinance6 CommentsWe 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. previousDear EurostarnextWhoop whoop 6 thoughts on “Bureauspeak” Kit October 17, 2008 at 2:48 pm 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.” Alex October 17, 2008 at 5:05 pm 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. dearieme October 17, 2008 at 11:51 pm 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? Brian October 18, 2008 at 9:08 am No, the correct answer is to hang them and let nobody do it. Martin October 18, 2008 at 12:34 pm Tim, The article should have been headlined ‘Establishment insider pleads Establishment case’. Gareth October 18, 2008 at 10:37 pm Alex, Tim is talking about closing the FSA down and letting the BoE regulate the banks (as it used to), not run them. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.