Friday, Sep 25, 2009

51 foxes guarding the hen house. What can go wrong?

FT: ‘Enforcer’ for UK banks’ toxic asset scheme

Alistair Darling will on Friday appoint a Treasury “enforcer” to oversee the biggest and perhaps riskiest deal the government has signed: the £585bn toxic asset insurance scheme.
Stephan Wilcke, a former management consultant and private equity boss, will lead a team of up to 50 staff to enforce the insurance contract and ensure that Britain’s part- nationalised banks properly manage their impaired loans.

Posted by devo @ 06:26 AM (640 views)
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2 Comments

1. icarus said...

Banks find it difficult to explain how the exotic assets work because "Many of the officials who agreed the loans left the banks long ago." And the dog ate my homework.

Friday, September 25, 2009 09:38AM Report Comment
 

2. inbreda said...

Quite. Those individuals should be called back - by police and by force if necessary. And if they are unable to explain, then they should not leave the building alive.

It really is time to start swinging some politicians from the trees.

Friday, September 25, 2009 02:03PM Report Comment
 

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