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 Post subject: Bankers!
PostPosted: 01 Jul 2015, 11:45 
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Joined: 13 Sep 2011, 12:11
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Banks and bankers: never popular, have come in for some stick recently. Corrupt practice, rate fixing, taking undue risks with customers’ funds: their public image is somewhat tarnished. So it is reassuring to see the Financial Conduct Authority hand out some hefty fines. It is only right and proper the banks should pay for their shenanigans: that’s justice.
But delve a little deeper. The FCA is funded by the banking industry. Well, that’s as it should be: why should we pay to police their industry? OK, I sympathise with the motivation but consider the net effect. The hefty fine goes to the FCA, so reducing the funding they need to claim from the banking industry. So the bottom line is the hefty fine is a cash-neutral transaction; out of one pocket and into another. Where’s the justice?

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 Post subject: Re: Bankers!
PostPosted: 25 Jul 2015, 13:57 
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I read this when you popped it up, Rob, but seemingly failed to comment. An enjoyable short read. Where is the justice? Damn it! Good work as always. :)

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