Wednesday 6 June 2007

City of London: the money ghosts

Most people believe the money ghosts that infest the City of London are nothing more than a myth. They are wrong. These ghosts do exist and they steal millions of pounds every year.

Susan Flint from Bad Moon Investments says, 'The ghosts steal from accounts, from share deals, and they even steal the loose change in bankers' pockets. It is a serious problem.' I believe it is a problem without a solution. From my research I have found out that these money ghosts are the ghosts of bank clerks and accounts clerks who in their lifetime were jealous of the far more successful bankers and traders whom they came into contact with. Not even exorcisms will help. The ghosts are so incredibly stubborn that there is absolutely no way they will leave the City of London until they get what they feel they deserve. And even if veteran ghosts finally do move on, I imagine younger and more aggressive ghosts will take their place.

Well, can anything be done about this? I'm not sure this is a solution, but maybe banks and financial businesses in the City can set up a special fund that will curb the worst excesses of the money ghosts. The ghosts will be allowed to draw money from the fund when it suits them. This idea was suggested to me by Arthur Simmons from the Chaos College of Finance. I suspect though it won't really have much of an impact. The fact is these money ghosts enjoy stealing, and they probably won't want to be seen as charity cases. I feel sorry for them in a way. It's a sad situation.