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blame where blame is due

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This is classic.

The government is expecting the equity holder and bank management to suffer for conducting business legitimately in a regulated environment. If there is to be a day of reckoning then surely most of the blame should come back to the regulator and the government that removed the responsibility for oversight of the banking industry from the Bank of England to the FSA.

Class action lawsuit time! The banks can get in line right behind all those classics of vulgar apocryphal chitchat – you know, the woman who spilled coffee on herself at McDonalds, and the burglar suing the homeowner after he slipped entering through the back window and broke his ankle, and the guy who was injured while surfing on top of a subway car (but, dude, they could have posted a warning sign or something…..) and takes action against the MTA….

It’s quite a distinctive use of the word “legitimately” in that paragraph, no?

Written by adswithoutproducts

October 8, 2008 at 12:15 pm

Posted in crisis, markets

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