Vincent Brown now on tv3

Colm McCarthy thinks guarantee is a bad idea as does the other chap Monahan I think is his name, lady from the small firms is pretty positive

New phrase for me at least “Gambling for ressurection”. The economist guy with glasses says banks could be come more reckless, this is the chap who has studied every banking crisis since Jesus was in the temple, and you then enter the “Gambling for ressurection” phase.

Vincent now asking is it legal under EU rules

Course it isn’t! Does he have to ask?? :unamused:

They are doing the papers I think I just heard we are guaranteeing the savings of the British army, I presume post office

Colm McCarthy attacks the central bank and financial regulator and says they need to come out and admit that mistakes were made with their regulation.
I am wondering why Hurley and Neary are not in jail for gross dereliction of duty.

Are you really wondering? Be honest now.
I think we all know nobody involved in Government or Regulation will ever take responsbility for this much less be punished for it. That’s not the done thing.

-Rd

McCarthy says that the US and Britain have already come out and admitted that the problem with the banks was due to regulatory failure and says that the same should be admitted here and that now is the time to do it.