The Curmudgeon

YOU'LL COME FOR THE CURSES. YOU'LL STAY FOR THE MUDGEONRY.

Saturday, December 22, 2012

The Sentence is Invalid Unless Approved by the Criminals

Vincent Cable, the semi-official darling of whatever Liberal Democrats remain in the Deputy Conservative Party, has come over all uncompromising again. He wants no more arguing over whether high street banks should have their gambling arms chopped off, because any further debate would cause "massive uncertainty". Of course, thanks to Triple-Dip George's safe if sweaty pair of palms, massive uncertainty is a problem which we have so far been mercifully spared. An analyst at Shore Capital noted the banks' objection to being broken up if they fail to implement whatever new regulations the Government feels minded to caress them with; what, after all, was the rigging of interest rates if not an attempt to preserve stability? Someone else started a rumour that regulators might be given powers as draconian and arbitrary as those which the banks themselves have been exercising all this time; the value of various shares suffered the usual nervous breakdown, and many were the moral dilemmas in boardrooms as various tax-cut absorbers agonised over whether to use a bit more of their drug money or run squealing to the taxpayer once more.

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