UK’s senior bankers are responsible for the credit crunch & should walk says Lawrenson of Letting Focus

Two blogs today - both of them bashing the banks!
As an Alliance & Leicester shareholder nursing a loss on my tiny investment there, what got me really riled last week was to see that all the most senior executives at that bank will get to keep their jobs following the Santander takeover and get enhanced pay to boot – which must be very nice for them!
This is "situation normal", because in the cosy world at the top of the banking business not one senior UK banker has been fired for their disastrous decisions to buy the toxic debt that has crippled their banks and increased the cost of credit for anyone taking out a loan or mortgage.
Meanwhile, everyone else has to suffer and many people outside the banks cosy top management tier are losing their jobs as a direct result of the financial industry’s failures.
Back in the bad old days of the 70s when the unions supposedly ran the country, the likes of Red Robbo, Degsy Hatton et al became figures of public hate in some of the newspapers.
And today?
Well, the silence from the press is positively deafening. I have seen no articles in the nationals calling for the bosses at the top of banking to do the walk of shame to spend the rest of their days at the golf course. It is truly amazing.
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I’m David Lawrenson of property investment expert lettingfocus.com.
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Copyright: David Lawrenson 2008. This blog is updated once a week.
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