Timmy elsewhere

At the ASI.

We seem to be punishing the banker who lent real money to real companies. But, but, isn\’t that what everyone wants bankers to do?

3 thoughts on “Timmy elsewhere”

  1. Presumably because he was actually guilty of not ensuring that the rules were being followed in the division he ran rather than merely being massively unpopular?

    You could argue (as many do) that the rules should have been and should now be different, but they weren’t and, as yet, aren’t.

  2. So you’d put all your money with this paragon of financial virtue? Sadly the FSA fine prevents you, but let me know when you’ve put some serious money his way in the unregulated markets you crave.

  3. Oh, dear. It’s not the FSA fine that prevents anything. It’s the separate ban but …

    The point is this – what did bankers do that was legal but unpopular? Securitisation and complex financial instruments with poorly understood risk.

    Oh, and buying ABN Amro but …

    Who has got an FSA ban? The one guy who ran (badly, according to FSA 20/20 hindsight) a division that did real lending.

Leave a Reply

Your email address will not be published. Required fields are marked *