Boring's better

SIR - It was obvious listening to the excuses of the banking industry that they hadn't a clue how they played a vital part in the mess our country is now in. These like-minded individuals, the chumminess and blurring of the lines of responsibility, the co

SIR - It was obvious listening to the excuses of the banking industry that they hadn't a clue how they played a vital part in the mess our country is now in. These like-minded individuals, the chumminess and blurring of the lines of responsibility, the conflict of interest, all contributed to the banking failure. They hadn't any idea how they got into the mess or, what is more important, none offered any solution to get out of it.It was all too insular; we were told if we didn't pay the vast salaries commanded by these individuals, we wouldn't get the right men for the job. We've been had!Perhaps now we should ask the responsible bankers who warned of this outcome in 2005, if there is a 'plan B' as the overpriced 'plan A' has not worked out for the majority, just the minority.Banking is boring, being stable and trustworthy, knowing the limitations of your borrowers could become repetitive, but it's what commerce needs. Cavalier risk-taking is what entrepreneurs learn to do, not bankers. The judgement call taken by these bankers, along with their boards of directors, was wrong: they were indulging in speculation, not sensible banking.For the Government to continually appoint people to positions of authority who only bring to the table personality, not professionalism, is likely to make us question the judgement of all involved.S M Nutton, North Devon.


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