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Alistair Darling wants to put the lunatics in charge of the asylum...

According to the FT, chancellor Alistair Darling wants to put a panel of leading lights from the City of London’s financial sector into the Bank of England in order to oversee the Bank’s decisions on financial stability. So let me get this straight – here we have a bunch of suits from the city, where financial services companies have run riot for the past ten years, chasing increasingly higher profits with a completely reckless and selfish attitude to risk and the impact their greed might have on the wider economy, and these are the people who are being asked to advise the Bank of England on the best way to achieve economic stability? Isn’t that rather like asking...

posted on: Jun 6, 2008 | author: Lance