Friday, 16 September 2011

Yet another rogue trader...!

Kweku Adoboli

 As my much more famous brother would scream 'I don't believe it' now that yet another rogue trader has been discovered squandering a large sum of money in what is effectively blatant gambling. Clearly the banking industry has not learned from their previous exploits which nearly wrecked the country's economy.

If they cannot install effective controls upon their staff then surely it is the responsibility of government to ensure that banking methods are secure and that public money is safe in their hands. The greed of the banking fraternity is legend and clearly they are unable to rein in their employees.

This episode has fortunately revealed that the culture of 'playing the markets' still exists but it should only be done with their own money! It is therefore time that the government once again called in the bankers and read the riot act. This irresponsibility must be curbed.

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