Are the FSA actually worth their corn ?

[Papaumau]

I have always thought that the Financial Services Authority are a bunch of weak and ineffectual no-users as they did nothing to even try to stop the meltdown of the banks and building societies a couple of years ago and they have done nothing to even try to attempt to control the crazy bonus culture in the banking sector.

Was I surprised when I saw today that research showed they had handed out a record £34.8 million in fines during 2009.

These fines - imposed on companies for breaching their own self-regulation rules - were 53% up on 2008 according to city law firm Reynolds Porter Chamberlain.

The average fine was £891,000 while there was eight fines over one million pounds made against financial services firms this year.

This makes me ask...Are they even scratching the surface by imposing these fines ?

[Hells Granny]

Doubt it, these amounts are only a fleabite when compared to the profits made.

Cheers HG

[John]

This is a Quango that civil servants must aim to join.

Normally fining foreign businesses who are complying
to different rules. Imposing levies on others to
make up any shortfall.

It is a pigs in clover business.

Having shown shortcomings in their part of Banking Regulation,
they continue with this governments mantra of
'Carry on Regardless'. 

[Papaumau]

This is a Quango that civil servants must aim to join.

And what do you mean by that John ?

Civil Servants don't "aim to join" anything, as they are exactly as the title suggests......"SERVANTS" and not free to join any quango they might like to. In fact because they are civil servants they are BARRED from joining such elitist groups.

Without the hard-working civil servants - who REALLY run this country - Britain would fall apart in a day !

I have found that it is not a good or a safe thing to do to take anything for granted as once it is gone it is only THEN that it is missed. 

[John]

"Without the hard-working civil servants - who REALLY run this country - Britain would fall apart in a day !"

Just shows you what a mess this Country is in then.


I am not suggesting that civil servants have flexibility of tenure. But some must
see other numbers developing given the ever increasing quangos needed
to support poor government.

With a nod I am sure some must resign and change horses?

[Papaumau]

Actually John, civil servants are A-political and any found pushing party political arguments are liable to get sacked.

The true definition of what they do is to TRY - by as many means as possible - to carry out the wishes of the encumbent government and as it is this that is their remit they cannot be held responsible when political polices are wrong-headed.

The democratically elected government, ( not necessarily a New-Labour one ), is the force that directs the country and it is the civil service that get the brickbats for applying and enforcing these instructions. This is probably one of the most thankless jobs that anyone can do.

I know, as I WAS that soldier !

[John]

This is precisely the reason why the buck stops with Gordon Brown.

But he will not take responsibility or more importantly not say a sincere sorry.

Reading from cards with the motions of a 6 year old, sometimes what
should be heartfelt comments, does not show genuine interest or
understanding of many situations.

Yes I am doing Brown down - it is far too easy. It should not be!

[Papaumau]

Brown's greatest failing is that he is not a people-person and while he does have some strength and resilience, ( he has to have ), he is not good at appealing to the masses. His personality is seriously lacking and his looks do him no good whatsoever but I can tell you this...There is more integrity in his little finger than there was in the whole charismatic body of Tony Blair.

To try to understand the man one has to be able to look past all of his obvious personal foibles.

It is hard to defend an obviously disliked personality but I am sure that given the chance this is one statesman that will come good.

[John]

I would agree with the integrity level.

But Brown has become somewhat of a parrot,
only able to answer questions with exactly the
same words. This is usually done when he
is card less.

It is very Forest Gump.

Whatever his faults he will not go short,
he will get a number plus generous expenses
together with title.

He has reached the top sidewards.

His time is over...

But he must go - or this Country will never
move away from trauma.

[yorkie]

How long is it going to take to become good, the country is in to much of a mess to wait for him.

Any way every time I hear him just lately he is full of promises, that never come to fruition, things will happen next year and the next year, why can't his promises come sooner.

 It is because he is trying to pull the wool over peoples eyes.

[Papaumau]

Brown has only been the Prime Minister since June 2007 and when he came into office, ( sideways I will admit ), he came in to an already poisoned chalice left by Blair.

He has never had any chance to stamp his authority on the post as he has been scrabbling to place sticky-plasters on all of the damage that he inherited.

Shortly after he came into Prime Ministerial power he was faced by a global crisis - not of his own making - that threatened to ruin his country and once again he had to put on the sticky plasters rather than being allowed to be a proper Prime Minister.

On top of this he DID make some mistakes - which I am sure he regrets -  and as he does not have much ability to shmooze himself out of trouble, ( not like Blair had ), he seems to be stumbling along from crisis to crisis and taking the blame for everything that happens in Westminster and out of it.

I think it is time that the hate-mongers who are soo keen on castigating Gordon Brown started to stand back a bit, look elsewhere and clear their thoughts so that they can see more of the big picture.

[John]

Looking at the Big Picture - Brown has lived next door to Blair
for the previous 10 years.

He was also supposed to have his finger on the Nation's
Financial Pulse in a job that is on a level of the PM.

You cannot run a Country without knowing what is
in the coffers at all times.

How close do you want them to be? They could not
be closer if they took a bath together.

Please do not make out that Brown is not associated
in any way or took over from a bad job.

They were in it together from the start.

Brown is as faulty in leadership as Blair thought he was smart.

True Blair is still good at lining his pockets - but there must
be few people who believe he is not a liar.

[Papaumau]

While Brown was The Chancellor of the Exchequer he was awarded the international accolade of being one of the greatest chancellors that Britain ever had.

Maybe he should have stayed in that post as it would seem that his is not cut out for being a Prime Minister.

Anyone who knows about Brown's roots will know that he is much closer to "Old-Labour" than it would seem he is. This is because he inherited "New-Labour" from Blair and was forced to run with it.

As I said before, Brown inherited a poisoned chalice and a political dogma that was well under way and as one single man he had no chance of shaping the party or the government to his particular way of thinking.

Now that he is in such trouble I doubt if he ever will be able to mould the party and the government to any shape that he might have desired.

[John]

At least this was an International accolade and not a Local one.

They all suck up to each other - or get wheeled out to do the same.

It is not as if they have checked the books is it?

This back slapping and 'oh ain't you great' hides all the problems
in the first place.

If he inherited so many problems - when is he going to be
honest and open about them.

Never - or perhaps a chapter in his book after the event.

'How I Saved the World' by G. Brown

not

'How I Cocked Up the Country'