Wednesday, 2 March 2011

Well Done, Sherlock!

Some people catch on quick, others take a little while. I know I'm not exactly Mr Dynamo when it comes to speed of thought but I (and many others) had this one figured out some time ago:
Whilst being questioned by the House of Commons Treasury Committee yesterday, Mervyn King, the Governor of The Bank of England, said that people made unemployed, and businesses bankrupted, during the [financial] crisis had every reason to be resentful and voice their protest. He told the Treasury select committee that the billions spent bailing out the banks and the need for public spending cuts were the fault of the financial services sector.
"The price of this financial crisis is being borne by people who absolutely did not cause it," he said. "Now is the period when the cost is being paid, I'm surprised that the degree of public anger has not been greater than it has."
As reported in The Guardian, King has repeatedly pointed the finger at the City since the crisis erupted in 2007, but this was the first time he blamed bankers for the coalition's spending cuts.  Flash Mervyn thus gets the Well Done, Sherlock award for pointing out the bleeding obvious. 
So, it wasn't the previous Government, or public sector pensions, or benefit scroungers after all.  Wouldn't it  be nice if The Treasury Committee were to act on this and suggest to the Government that perhaps the financial sector should be paying more taxes to make good the public spending cuts rather than paying themselves ridiculous bonuses?
Meanwhile we shall award Mervyn the inaugural special sub-category for distinctive achievement entitled What Took You So Long?

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