I understand George Osborne says he is a great fan of the late Geoffrey Howe.
“Handsome is as handsome does” my old grandpa used to say.
Well how about living up to Geoffrey’s very high standards?
I cannot imagine Geoffrey doing nothing to get back all the money which was lost by RBS in the USA.
No-one, in my view, has taken any serious steps to look into where the money actually went over the Fanny Mae Freddy Mac scandal.
George Osborne has been Chancellor for six of the years since then.
Even now we, the British taxpayers, are paying heavily for the consequences of America’s failure to regulate its markets.
It didn’t disappear; it all went somewhere.
If George Osborne doesn’t have the energy to investigate or doesn’t want to try and find out, perhaps he should make way for someone who does.
Remember this is not the first time.
Midland Bank suffered a similar crisis in the USA and HSBC bought it to rescue it.
NatWest nearly went under, and was bought by RBS in identical circumstances after another fiasco in the USA.
TSB lost a fortune over a fringe banking scandal.
It was bought by Lloyds when nearly all the money raised from the issuing of its shares seemed to disappear into a black hole.
We’ve been this way before.
Is a clear pattern emerging in our relationship with the USA in business dealings especially over banking?
Shouldn’t we know for the sake of all our futures?
Valuable evidence is being lost during George Osborne’s time as Chancellor by his inactivity.
The audit trail grows colder by the day.
Or are we just supposed to put up with this and wait for the next time it happens?