Tuesday, April 15, 2008
Comedy piece in the FT
Gordon says to bankers: "As I see it, we’re in the same leaking boat. People accuse you of having fuelled the financial crisis by overplaying your hand during the good times and now they’re losing confidence in your ability to sort it out. Well, join the club. Where you have investors, I have voters. There’s a limit to how long I can bang on to the press about how I ‘remain vigilant’ and am ‘never complacent’, before somebody points out I could do that without leaving my bedroom. Why should I have a quiet word with the Bank of England about kick-starting the mortgage-backed securities market, or lean on the Financial Services Authority to go easy on regulation, if all you’re going to do is hoard the surpluses from interest rate cuts or use them to reward shareholders?"