Quote (and other things) of the Day
From, not surprisingly, The Daily Mash.
Ed Miliband cost Britain the best part of a billion pounds yesterday.
The Labour leader’s brave, popular stance against RBS bonuses led directly to the bank losing £900m of its value as investors reckoned that if Ed Miliband was calling the shots they may as well buy shares in a mangled badger.
Which is ironic given that’s pretty much what his old boss, the cyclops with the faecal Midas touch, did when he spunked away nearly £40 billion of taxpayers’ money on buying a company that had the thick end of two fucking trillion in liabilities.
And on a closely related subject, which I might have titled ‘Twat of the day’ if I was making a separate post of it, I see that Fred the Shred has been de-knighted, stripped of his honour for services to the banking industry nominally because of his disservice to the banking industry, but I suspect mainly because it’s politically expedient to give him a good kick in the balls despite the fact that he committed no actual crime. Or perhaps, given that he’s been the target of this kind of thing on and off since Harriet Harperson suggested three years ago that the ‘court of public opinion’ (which is entirely different from Harperson herself and other champagne socialists) had decided his pension arrangements were unacceptable despite being in a legal contract, it’d be more accurate to say that it’s still politically expedient to kick him in the balls. I can’t think of any other reason why, as the Tele points out, Goodwin has been singled out for being no worse than a big business fuck up while others, some of whom have committed real actual crimes, have been allowed to keep their gongs.
Lord Jeffrey Archer, disgraced peer and best-selling author, he spent time at her majesty’s pleasure for perjury in 2001, having lied about sleeping with a prostitute.
Ex-HBOS chairman Lord Stevenson was awarded a CBE in 1981, a knighthood in 1997 and was made a peer in 1999. Like Goodwin he played a significant role in his bank’s near-collapse in 2008 and apologised to the Treasury Select Committee for his over-reliance on wholesale funding markets.
Lord Taylor of Warwick, the son of Jamaican immigrants who rose from humble beginnings to become a barrister and a member of the Upper House, was exposed by the Daily Telegraph for swindling £11,000 in fraudulent MP expenses out of the taxpayer and subsequently imprisoned, yet retains his seat in the House of Lords.
Labour peers Lady Uddin and Lord Paul, and the crossbencher Lord Bhatia all received lengthy suspensions from the House of Lords after wrongly claiming thousands of pounds in expenses yet retain the right to re-ent
(EDITED TO ADD: Captain Ranty reminds me in the comments of the case of Lord Ahmed who killed someone in a car crash on the motorway shortly after sending text messages from the driving seat. As I recall there was no real evidence that texting brought about the crash and he was not actually charged with causing the death of the other man, but his lordship was convicted of dangerous driving and sentenced to several months. The Captain points out that he served only 12 days and that he too still has his title.)
To which, it could be argued, we should add the names Sir Howard Davies and Sir Callum McCarthy, chairman of the Financial Services Authority from 97-03 and 03-08 respectively, though perhaps not Jonathan Adair Turner, Baron Turner of Ecchinswell, the FSA chairman since May 2008, who’s getting some stick in various news website comments but really wasn’t there in time to have prevented anything. But we could certainly include the various Sirs, Dames, Honorables, Right Honourables and so on in parliament and on whatever committees approve these things who all so thoroughly applauded what ex-Sir Fred was doing that they put him up for and awarded him the fucking knighthood in the first place. Don’t get me wrong, I’m no fan of ex-Sir Fred and in fact I’ve called him some unpleasant names and expressed hope that he fall down some stairs and land on his testicles, but if all this really is, as it’s being said, for bringing the honours system into disrepute surely the spotlight should rather be on those who give out honours to idiots, fuck ups, crooks and inconsequential slebs.
In fact never mind his bloody honour, such as it is these days, you don’t need to look far to find people saying he and other bankers should be arrested and jailed. For example, this comment at Huffpo
They should throw him in the tower of London for a good number of years as well.
Good. Now put him in jail.
… and this one commenting on the same article
He should be locked-up in prison.
And best of all, this one from a web forum.
in my opinion, taking away the knighthood means nothing. This bastard should have been tried in court and sentenced to jail.
he basically played around with other people’s money while paying himself a high salary and then when $hit hit the fan, asked for a 45 billion bailout. Im sorry, but if someone steals 10 dollars from another, he is called a criminal and can get a prison sentence. While this idiot stole billions, and people are arguing about some stupid title that means nothing.
Dump this idiot in prison…then we can discuss his knighthood.
Oh, and also one I spotted a few months back by Jon Snow, long serving journo and former law student.
Veteran Channel 4 newsborg Jon Snow blogs on the eeeevil bankers, and specifically asks why they haven’t been arrested, and by extension I imagine charged, tried, found guilty, purged, flayed, subjected to the Pear of Anguish and possibly also the Banana of Discomfort and the whole Fruit Salad of Much Inconvenience, and finally hung, drawn, quartered and buried in five limed graves each. But that may just be the impression I get.
Click for linky
The publication of the Vickers report into British banking reform sparks the question why the UK has so far failed to prosecute a single individual for his or her misdeeds during the financial meltdown of 2008.
I’m going to go out on a limb here and guess that maybe no actual crime has been committed. Negligence, probably yes. Gross stupidity, almost indubitably. Financial irresponsibility and incompetence of such breathtaking degree that it’s comparable with what some governments spunk away every week, for sure. And some of that may be tortious, but is there evidence that an actual offence has been committed and is there enough of it to make a successful prosecution likely? Because if the answer to both is no, Jon, there’s your reason why.
Okay, he might not have finished his law degree but you’d hope that the course would have covered the tiny detail that people need to be at least suspected of having committed a crime before they can legally be arrested, and if not that he might have picked up the fact at some stage during a long career in journalism or even just by being a fucking adult. I’m reasonably sure I was aware that you couldn’t be arrested, Constable Savage style, for bullshit offences made up on the spot by the time I was in my late teens.*
All of this cockwaftery about arrests and prison stretches have the same thing in common – a complete absence of any mention of an actual crime Goodwin or any other banker (with the notable exception of Bernie Madhoff, whose fraud was genuine but actually had two fifths of fuck all to do with the financial crisis) is alleged to have committed. Y’know, something that’s a real offence that you can be arrested for and charged with, something with a statute somewhere to make the action a crime and give legal power to punish it, that kind of thing. Christ, only one even mentions those inconvenient formalities of courts and trials, but even then the fact of imprisonment seems to be treated as a priori and the writer even goes so far as to specifically accuse Fred Goodwin of theft. Yeah, and I suppose my bank steals the money I voluntarily deposit in it too, right? Or is he perhaps referring to the money given to RBS in the bailout? If so then it should be pointed out that as far as Goodwin and RBS were concerned the exchange of funds was again entirely voluntary, and of course shares, for whatever they ultimately turn out to be worth, were given in return. The only involuntary part, the only bit where money was forcefully taken from people, was the bit where money was taken from taxpayers so as to be thrown, by Gordon Clown and his Darling Alastair, at RBS and other banks. It’s more like stealing ten dollars before meeting someone who’s lost their own money on the horses and owes a lot more, and then giving him the ten dollars as well as stealing another twenty and going out to steal again the next day – the guy who owes all that money may be an idiot but he’s not the thief.
Let me repeat that vital point: whatever else that guy is, he is NOT a thief.
How the fuck can apparently reasoning adults not understand this? Do I really have to get
medieval Reformation on their asses and quote Sir Thomas More again? Or shall I go with the misquoted version I used when fisking Jon Snow last year?
They’re eeevil bankers who are greedy, stupid and negligent.There’s no law against that.
So now you’d give the bankers the benefit of law?Yes. What would you do?Cut a great road through thelaw to get after the bankers?
And when the last law was down, and the Devil turned ’round on you, where would you hide, Roper, the laws all being flat? This country’s planted thick with laws from coast to coast — man’s laws, not God’s — and if you cut them down — and you’re just the man to do it — do you really think you could stand upright in the winds that would blow then? Yes, I’d give the Devil benefit of law, for my own safety’s sake.
Why is it so difficult for some people to grasp that when you start demanding that people be thrown in gaol without worrying about whether they’ve broken a law then those doing the throwing and demanding are in as much trouble as the actual throwees?
* Actually the Constable Savage sketch might even be part of the reason I was aware of this.