Saturday, 23 January 2010

More Financial Services Authority Revelations

Been doing a bit of digging around.
The CEO of the FSA is a bloke called Hector Sants. Look him up on Wikipedia. According to my contacts he is also very New Labour (why am I not surprised) suave, genial, clever and pretty sure of his own wonderfulness.
Sants took on the FSA job in 2004 and was allegedly very disappointed that it did not automatically come with a Knighthood.
Once the Tories announced that they would be scrapping the FSA if/when they got into power Sants made two or three rather political, anti Tory policy speeches, that I understand did not go down well with the Dave and George show. So they got clever. It seems that when (if) the Tories get in and sort out FS reg-yew-lay-shun they are going to need more very skilled people at the Bank of England and I am told that certain grades of staff automatically qualify for a 'K'.
Sants has been very quiet recently.
Now, how many of you have read the Sword in the Stone? Sir 'Ector is Arthur's guardian. When Arthur pulls the sword from the stone Sir' Ector falls to his knees and acknowledges his Liege. I often wondered whether the Legend of Arthur has been misinterpreted. Is it possible that Arthur is a paradigm for the Common Man. That when the Common Man gets power all the lords will kneel in front of him?
So Mr S, knowing that you are a pretty self satisfied bloke I should be very careful if I were you. Becoming Sir 'Ector will always make me think of Arthur's sovereignty - the sovereignty of the Common Man.
To quote another popular hero of the Common Man, "I'll just put your name in my little black book, and come the revolution, up against the wall; bang bang bang."


AntiCitizenOne said...

Where do you stand on my view that it was Basel2 that basically eliminated reserve requirements and thus cause the credit boom and then inevitable bust?

On my more conspiracy theory loving days I feel it was deliberately done to get more of banking inside the state.

Lola said...

ACO. I distrust all statist 'ideas' and bureaucracies and it looks as if it is not just me that thinks Basel2 had a lot to do with the banking crisis.