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A Verbal Grenade from the Govenor of the Bank of England...

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posted on Mar, 5 2011 @ 07:34 AM
I read an article this morning referencing a recent comment made by Mervyn King, the Govenor of the Bank of England....

Mervyn King:
"Banks putting profits before customers"
"Banks are trying to maximise short-term profit at the expense of customers"

This may appear as 'just words' to those who don't care BUT I think there is a definate shift in the balance of thinking and power going on.......

The current Coalition Government has just agreed 'Project Merlin' with the UK banks which was designed to stop the banker bashing and reduce bonuses and ultimately make banks more 'in tune' with their customers and the Real World... this was last month.....
For someone like Merv King to come out and say what he said is, as the title suggests, a verbal grenade back into the argument..........

Most 'non' banking employed people still are very concerned that the banks have 'resumed business as usual' and that they can go back to the over bloated salaries and ways of working which have caused US ALL great harm............ Maybe Merv is trying to protect his hide before more serious events occur or maybe he is trying to highlight the fact that the population just doesn't 'buy into' the current banking reforms.........

Either way BIG words and intentions from the Man in charge of the BoE.


edit on 5-3-2011 by PurpleDog UK because: (no reason given)

edit on 5-3-2011 by PurpleDog UK because: (no reason given)

posted on Mar, 5 2011 @ 08:35 AM
Maybe he's just trying to cover his backside cos the budget next month. The cat really will be among the pidgeons then. Peace star.

posted on Mar, 6 2011 @ 11:25 AM
Double thread

Was here

Mods if you see this please close mine, as this is getting more traffic. and mine is dead in the water!

posted on Mar, 6 2011 @ 03:35 PM
The truth is being spewed directly from the horse's mouth. I expect him to be fired in a day or two for speaking his mind.

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