THE COALITION BANKING REFORM

If you can call it that.

The commission to investigate breaking up the banks has one year to report, and the findings will not be binding, i.e. it could be a complete waste of time.

But on the plus side, possibly, is the financial advice centre to be financed by a "new social responsibility levy on the financial services sector".
[source : http://media.ft.com/cms/e241587a-63fb-11df-ad7c-00144feab49a.pdf ]

And the coalition is also going to "create a single agency to take on the work of tackling serious economic crime that is currently done by, among others, the Serious Fraud Office, Financial Services Authority and Office of Fair Trading".

But ask yourself this. These political parties bang on about "prison works". You name me one of the prime suspects (and we all know who they are) who has gone to prison for completely fucking up the economy? That's right! NOBODY!

Where's the deterrent in that? A few small fines and/or barred from the City for a while. WOW!

I hope that the new financial advice centre will not just offer advice as the FSA did, for example about the difference between a debit and credit card, but to also educate the people about just how drug-riddled, bankrupt and fraudulent the real banking system is.

I believe the FSMA 2000 gave the FSA the statutory duty to do this. Brown instead told them to sit with their thumbs up their arses while the City wrecked not just the UK but Europe and America too!

So I have not been dissuaded from going ahead with dragging Bilderberg into the dock, even if that means dragging Clarke into the fray.