Taxpayer hit again
Re; Please tell me there was a misprint
Sadly, I'm guessing not.
And what is amazing to me is how little noticed or commented upon this has been.
It's almost as though certain folk have been compensated for buying certain other folk more time to further waste more of our money... with our money.
When I ran my ad agency there was once a notion of 'pitching fees' to prevent flippant clients getting all and sundry to contribute, but it never happened.
This was... what... two or three bidders? Bidding to make bazillions. And they take even less risk just having a go and getting rafts of PR and paid work... on our money.
The world has gone mad.
Impudently, if prudently, yours...
Showing posts with label NORTHERN ROCK. Show all posts
Showing posts with label NORTHERN ROCK. Show all posts
Monday, March 03, 2008
Wednesday, December 19, 2007
£1,800 each!
That's what the cost is to each taxpayer for the gov's bail out of Northern Rock according to the Telegraph! And, as ever, the inimitable Matt manages to say it in spades.
I just hope that:-
1) they've taken it out of existing revenue, and
2) aren't planning additional taxation somewhere to make up the shortfall
What's the betting that I'm wrong on 2)?
Monday, September 17, 2007
Rock and woe
It's hard to justify the last few days' excitements in the world of finance with an enviro blog, but why let that stop me?
Because I see a lot of aspects that just as easily could extend to the stewardship of our eco-futures as how those who would claim (and are paid massively) to manage our finances.
First up, I heard that the boss of Northern Rock 'blaming' the unexpected run in the US financial markets. That's a bit like the recent floods being blamed on worse weather. It's why you plan, mitigate and put in place contingencies. The simply fact is, it seems, that he oversaw - for quick profit no doubt - a system that was taking big risks, writing cheques that could not be easily covered... and got caught out.
Then there are the politicians. I actually heard one try and invoke Mrs Thatcher! If they need to reach back that far for a diversion then they really are a lot sorrier than I thought. Especially the one (not the same one who said it) who was Chancellor for most of this last decade.
It is all short term gain, mainly for personal advancement (in terms of money or power) and keep fingers crossed nothing happens on your watch at the top. If it does, bluster and distract. Or once you've moved on pass the buck, and who cares anyway because your wedge is golden (unlike those you have been tasked to look after).
And the media serves no other purpose to get excited about whatever will make a rating or a headline today... now! And will move on to the next issue in ten minutes if it suits.
No wonder people totally ignored the exhortations of every senior or 'expert' member of our financial institutions, our government and even national media. They are no longer trusted to tell us what is going on without spin, hype or cover-up at the core.
So how anyone is expected to engage with what any of them might come out with on the future of the planet, which is a lot more complex (and prone to even greater levels of manipulation by the unscrupulous), lord alone knows.
What a way to run a country.
There's no real problem with getting rewarded for taking big risks. Trouble is, these days those who do are too isolated from the consequences of taking them for the wrong reasons, or simply being bad at it.
Indy - Run on bank was 'Brown's fault' - then I read on. Odd paper to carry it like that, though.
Indy - Darling sets terrible bail-out precedent - I must say I also wondered about previous, not too dissimilar situations where the people left in the lurch were not so well protected by government.
Because I see a lot of aspects that just as easily could extend to the stewardship of our eco-futures as how those who would claim (and are paid massively) to manage our finances.
First up, I heard that the boss of Northern Rock 'blaming' the unexpected run in the US financial markets. That's a bit like the recent floods being blamed on worse weather. It's why you plan, mitigate and put in place contingencies. The simply fact is, it seems, that he oversaw - for quick profit no doubt - a system that was taking big risks, writing cheques that could not be easily covered... and got caught out.
Then there are the politicians. I actually heard one try and invoke Mrs Thatcher! If they need to reach back that far for a diversion then they really are a lot sorrier than I thought. Especially the one (not the same one who said it) who was Chancellor for most of this last decade.
It is all short term gain, mainly for personal advancement (in terms of money or power) and keep fingers crossed nothing happens on your watch at the top. If it does, bluster and distract. Or once you've moved on pass the buck, and who cares anyway because your wedge is golden (unlike those you have been tasked to look after).
And the media serves no other purpose to get excited about whatever will make a rating or a headline today... now! And will move on to the next issue in ten minutes if it suits.
No wonder people totally ignored the exhortations of every senior or 'expert' member of our financial institutions, our government and even national media. They are no longer trusted to tell us what is going on without spin, hype or cover-up at the core.
So how anyone is expected to engage with what any of them might come out with on the future of the planet, which is a lot more complex (and prone to even greater levels of manipulation by the unscrupulous), lord alone knows.
What a way to run a country.
There's no real problem with getting rewarded for taking big risks. Trouble is, these days those who do are too isolated from the consequences of taking them for the wrong reasons, or simply being bad at it.
Indy - Run on bank was 'Brown's fault' - then I read on. Odd paper to carry it like that, though.
Indy - Darling sets terrible bail-out precedent - I must say I also wondered about previous, not too dissimilar situations where the people left in the lurch were not so well protected by government.
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