PALOOKAVILLE FINANCIAL
capitulation day
+278...
...today...
...here in...
...palookagrad...
...everyone is in mourning...
THRILLER
...the zombie king will sing and dance no more...
...but...
...the zombie banks will play and play...
..."But Mr King’s differences with the Treasury and Financial Services Authority over the future of the UK’s tripartite system of financial regulation are of greater importance. In testimony this week, Mr King revealed the extent to which regulators in one of the world’s great financial centres have yet to agree on the lessons to be learnt from the banking crisis. Mr King’s claim that he has not even been consulted on the government’s forthcoming white paper on reform of financial regulation, which is likely to give the FSA a share in responsibility for financial stability, certainly does little to boost confidence that the Bank will swing into line in support of the UK’s proposed new regulatory framework...."
...LEX...
IT AINT ME BABE
...“All we can do at present, before a bank is deemed by the FSA to have failed, is to write our Finanicial Stability Report and give speeches. These are important things. But in the end I don’t believe that people change their behaviour simply because we publish reports. Now, that’s fine by me. I’m very happy with that position if you want us just to publish reports. I’m very content with that. But I do want it to be absolutely crystal clear that you in parliament understand the Bank of England can do no more than publish reports and make speeches.
“If you’re content with that, that’s fine by me. What you can’t do is turn around afterwards and say ‘You have the statutory responsibility, why didn’t you do something?’ when there is nothing we can actually do.“So all I’m saying is just align carefully powers and responsibilities. But believe me I’ve got more than enough work on my plate at present. I’m not looking for a whole lot more.” king
"The feud between the Bank of England and the Treasury intensified on Wednesday as Mervyn King said he had not been consulted on the contents of the Government's imminent White Paper on financial services."
LEST WE FORGET
...it was Brown wot took away powers from the BOE...
...and give em to the FSA an the Treasury...
...his name is all over this bust...
...oh...
...and he sold our gold...
...at the very bottom of the market...
BROWN
the real king of the zombies
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