A fundamental error of judgement

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I think this is pretty amazing:

UKFI, run by former Treasury official John Kingman, will this week announce the appointment of four new non-executives to its board. They are Glen Moreno, chairman of media group Pearson, Lucinda Riches, a former UBS banker, Peter Gibbs, former chief investment officer of Merrill Lynch Investment Management, and Mark Kirkwood, the former senior banker at Citigroup.

Moreno, I would add, is also ex Citigroup.

That makes this a clean sweep of people from failed banks now running the revival of UK banking.

Is this meant to inspire confidence? Are we meant to believe that these people have learned the new tricks needed?

And where are the representatives of the stakeholders in all this: the taxpayer, the members of staff, the customer, the mortgage account holder, or anyone else?

No - we're still in the world where bankers know best. And I have a blunt retort to that: the state of the economy is proof that they don't. These appointments do really represent a fundamental error of judgement on the part of all involved.