Wednesday, Oct 17, 2007
Wonder how many more ostriches there are out there?
FT: Blame heaped on Northern Rock chiefs
Excellent in depth analysis of the select committee grilling of the NR board yesterday:
MPs lambasted Northern Rock executives for alleged arrogance and incompetence, accusing the board of “clinging to office” after wrecking the bank, in a bruising three-hour hearing on Tuesday.
Too little too late, but at least someone in administration is confronting them for the damage they have done in persuit of profit.
Posted by autopilotengage @ 08:47 AM (421 views) Add Comment
5 Comments
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1. Davidr said...
MPs are surely the best people to recognise arrogance and incompetence - in others. This is a case of the Biblical analogy of seeing the speck of dust in your brothers eye but unable to detect the presence of a beam of wood in your own. Look how many areas of British life are in disarray after ten years of Tony Blair, at the indebtedness of the people, and at the financial disaster waiting for them in the near future. Look at our foreign policy, bankrupt of moral principle, committing eager young men to mortal danger for nothing more than outdated Colonialist thinking. How many politicians have admitted their responsibility? How many have resigned on principle. MPs are people who through being arrogant and vain have the ability to turn a blind eye to their own considerable incompetence and self serving natures.
2. inbreda said...
I really enjoyed it when he said "nobody could have predicted the credit crunch"
I was screaming at the telly. How much does he get paid? and all he had to do was spend 5 minutes of any day in the last couple of years glancing at this site. He should be forced to pay every penny of his wages back before being hanged.
3. inbreda said...
publicly
4. Disillusioned said...
"If nothing else works, a total pig-headed unwillingness to look facts in the face will see us through."
5. Meow said...
Please, someone tell me there is a link to this meeting on the parliament website somewhere...
I need a good laugh.