Having nationalised half the UK's banking sector and established a shiny new quango to "protect and create value for the taxpayer as shareholder, with due regard to financial stability and acting in a way that promotes competition.", Nulab are now going on the safe side and hiring yet another two hundred and sixty taxpayer-funded penpushers to oversee the bits that are left.
Ironically, the bits that are left are mainly HSBC and The Nationwide Building Society, which appear to have been soundly managed and in no particular need of closer supervision.
Hmmm. I wonder what the real reason might have been ..?
Via Lola.
Forbidden Bible Verses — Genesis 43:24-34
5 hours ago
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Err, Barclays? Santander? Non-government-owned Lloyds-HBOS? The still-enormous-despite-cuts UK i-banking operations of international banks?
OK, I'll give you Barclays, Santander, but by definition, the remaining banks that are not gummint controlled (Lloyds clearly is) are in less need of supervision as they probably know what they are doing.
260 plus their families: call it, at least, 1,000 new Labour voters. BTW I wonder where these banking geniuses come from. Call me cynical but I suspect that a fair number will be cast-offs from the banks that survived (or were rescued) and which dumped this dross while the going was good.
More Soviet Jobs Created!
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