I think magicians call this ‘misdirection’

April 23, 2008 at 9:48 pm | Posted in Uncategorized | Leave a comment
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At first I was surprised by the honesty in CBI boss Richard Lambert’s acknowledgement that the ‘bonus culture’ in banking encourages people to take massive risks with other people’s money – normally when challenged on the extravagant sums these folks earn you receive the bog-standard “but we contribute so much to the British economy. In fact, we’re as invaluable as nurses. Worship us, paupers!”.

Then I noticed what he wasn’t admitting to, namely that a slight increase in government regulation on both sides of the Atlantic might’ve stopped them playing fast & loose with other people’s money in the first place. So it’s not ‘we’re so wrecklessly irresponsible that we can’t possibly be left to our own devices for five minutes’, but ‘oh what a silly lapse, we’ll be more grown-up in future.’

It’s pretty much the equivalent of a guy in a pinstriped suit giggling ‘Gosh, we seem overdone it somewhat on the champers’ whilst doing the limbo under the boardroom table.

Yes, you have overdone it. But how come we’re the ones who have to suffer the hangover?


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