This headline from the FT this morning tests credibility, except for the fact that it is true:
I suppose there is merit in asking those who now how to commit financial crime to tell the police all about it. What a shame that there's a risk that in the process some buddy relationships might be formed which will make it all the harder to bring to book those who might be responsible for such crimes now or in the future.
And what a shame too that if the government thinks RBS has a social purpose it can't also outright nationalise it and use it as a bank for reconstruction of the UK economy.
I guess the plausibly useful is too much to hope for.
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Perhaps, in a future of for-profit policing by public/private-sector partnership, the senior officers of the Met can benefit from personal relationships with bankers providing essential financial services to ministers and police chiefs in the developing world.
Well I suppose if the police need to know how to combat safebreaking they need to ask a safebreaker for advice !!!!!
Then again, it is the City of London police: “the best police force money can buy.” Plus ça change . . .
🙂
¨I rapidly came to the conclusion that one of the reasons that so much crime flourished in the financial sector was because the practitioners themselves believed that they were above the law and would not be prosecuted, while those who existed to regulate their activities, were largely useless and shockingly incompetent, but who knew that if they waited long enough, and didn’t rock the boat, a job would be found for them in the financial community in the longer term¨
¨ Among its most deviant legacies was the requirement that the new regulator, the FSA “…must consider the international mobility of the financial business before taking any enforcement action, and avoid damaging the UK’s competitiveness…”
There, in black and white was the mantra which exonerated a new generation of incompetent regulators, who could always pray in aid this stipulation as a justification for doing nothing when the fight got hot and dirty¨
http://rowans-blog.blogspot.co.uk/2014/07/understanding-financial-criminals-why.html
The problem is NOT that the police are incapable, it is that they are hamstrung by the ¨you pat my back I´ll fill your wallet¨ culture.
It must be really stressful for the law, to see so many ex-polos´ and ex-public servants elevated to positions far above their abilities, and to know why, but be unable to act.
It’s a bit like Barclay’s being involved in financial education!
See:
http://www.barclaysmoneyskills.com/Information/Resource-centre/School-children.aspx
They’ve got their hands on our police and kids -what’s left?
Good point
Let’s not mention the NHS…
As usual, Rowan Bosworth-Davies hits the nail on the head.
http://rowans-blog.blogspot.co.uk/