EDM 795 - Qualifications for banking executives.

The EDM can be found here.

EDM 795 Prentice, Gordon

That this House believes chief executives of banks should hold a recognised banking qualification.

BBC Pravda reports that some MP's think bank executives should be qualified.

The government is being urged to ensure that in future the chief executives of Britain's banks have a "recognised banking qualification".
The call has come in a Commons motion, tabled by the Labour MPs Gordon Prentice and Paul Flynn.
It follows the admission in a select committee hearing from former bosses of the RBS and HBOS that they did not have any banking qualifications.

Now that all sounds good but the basic problem is that no qualification can allow for common sense. 

If the banks could not see that lending out more money than they had on their books was a problem, that lending to folk with no real money was a problem, that creating money out of betting on debt might cause a problem - then how is any qualification going to help?

If not one of them could not see that maybe the housing boom would come down an take their smoke an mirrors finance system which it was based on down with it, then what good is any bit of HM Govt approved bit of paper?

The New Labour Government was quite happy to leave them alone whilst consumer debt soared to record levels, whilst the value of stock market sank over ten years in real terms, watched by an old boys club called the FSA that could not regulate a bowel movement in a toilet.

Should we not ensure that our politicians have basic fiscal skills and heed the many warnings that cross their desks.

I refer of course to that "one eyed Scottish idiot" © Jeremy Clarkson, the snot gobbling trouser pissing bottler otherwise known as Cyclops PM James Gordon Brown.

Gordon's problem is he thinks that the way to resolve the rapidly deepening economic crisis is via 'stimulus packages' with magic money plucked off the magic printing press. 

With the ultimate of getting the banks to lend again and rebuild the very credit bubble and circumstances that landed us in the shit in the first place. 

Like holding an alcoholics meeting in the local pub, you get full attendance but they all end up dead.

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