Thursday, 13 September 2007

Mervyn King tells banks to clear up their own mess

The Bank of England governor has told British banks that they only have themselves to blame for their present troubles.

Well, I’m just glad neither he nor anyone else has tried to blame the financial shamans and money mystics for the market meltdown. There are some people – I won’t mention names – who would love to see the new mystical workers fail. We won’t fail because we’re backed up by Big Herb, Ganesh, and various other gods, but we have got to be on our guard. There is no turning back.