The pathetic public spectacle of the bankers on trial sickenly braced our TV screens yesterday. Former bosses of HBOS and RBS were grilled by the government’s Treasury Select Committee in which they made token apologies to a country pretty well pissed off by the seemingly reckless activities of over-paid and opportunistic chief banking executives. Chairman of the committee, John McFall heard admissions from the four that
• They did not have any formal banking qualifications.
• Hornby was still being paid £60,000 a month to work as a consultant for HBOS.
• McKillop did not fully understand some of the complex financial instruments his bank was using.
McFall also noted a hint of arrogance in their later responses to questioning.
No satisfactory answer was given as to why they had taken such reckless decisions, losing each bank vast sums of money.
I would suggest the reason why no answers were forthcoming was because they were put up to it by a higher order, that hidden banking cabal that is so intent on deliberately creating a giant financial chasm from which they can consolidate and build a new global banking dynasty on the back of a desired global governance, bleeding the world’s economies dry in the process. This isn’t the story of four rather foolish and reckless executives, it’s the story of four well-paid patsy’s whose embarrassment today is a mere bagatelle in a game of corporate manipulation in which they have been used as key players. Far from falling from the heady heights of massive bonuses into penal servitude - which should be their fair punishment - they will, no doubt, find comfortable seats in high places for deeds done on behalf of their masters while we the tax-payers foot the bill for their banks bailouts!
All the more important that we get confirmation of what was really going on behind senior banking executive office and boardroom doors over the last decade or so.
One such whistleblower, Paul Moore, has courageously and rightfully revealed that his sacking back in 2005 followed his warning then that HBOS was engaging in aggressive sales practices which threatened its stability. This is a severe embarrassment for the then head of HBOS, Sir James Crosby, who today resigned as deputy chairman of the Financial Services Authority but who acted as advisor to Gordon Brown. As Sir Michael Fallon, a member of the treasury committee currently probing the banking crisis, said on BBC’s Today programme “Moore's claims went to the heart of the mistakes made by Britain's top bankers”.
Indeed they do and the more the select committee can unearth the dirtier the linen will become.
This is just the tip of the iceberg. But just how much further will Fallon and his colleagues be allowed to wander into the restricted territory of the banking cabal’s private life? Not very far my guess would be, otherwise the knowledge that men like Crosby were actively encouraged to engage in the destabilisation of banks like HBOS through reckless and unjudicious practices and with others of his ilk being engaged in similar activities in other banks, would begin to bring down the whole pack of cards. This in turn would expose this conspiracy which has been formulated deep within the central banking/Illuminati cabal to create a financial collapse from which a new, centralised global banking conglomerate can emerge - just the sort of institution that politicians have been increasingly calling for, as they have been told to, in recent months. That would bring us to the root cause of this crisis and everything that is meant to subtend from it.