Thursday, Aug 26, 2010
Honest we don't have any bad debts trust me I am a bank
Telegraph: UK bank accounting rules 'fatally flawed', warns influential watchdog
The City veteran has argued that applied to banks, the standards “produced false profits and overstated capital” which have “misled creditors, misled shareholders, the Bank of England, FSA and others”.
In a devastating assessment, Mr Bush alleges the regulations, and specifically the way they have been implemented in the UK and Ireland, have led to “mistakes [being made] of such severity that it is difficult to overstate”.
Posted by mark @ 10:40 AM (524 views) Add Comment
3 Comments
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2. hpwatcher said...
and they continue to deceive.
3. a saver said...
Amazing that this would get published. It's pretty much what many of us have been saying for a while.