Saturday, November 7, 2009

RBS faces another year of losses, Hester admits - Business News, Business - The Independent

RBS faces another year of losses, Hester admits - Business News, Business - The Independent: "Responding to questions suggesting that the enormous weight of information supplied by RBS – its statement reached 120 pages – was being used to obscure useful information, a favoured tactic of Yes Minister's Sir Humphrey Appleby, Mr Hester said: 'It's not my job to make anyone else's easy. Disclosure is generally seen as a good thing.'
The Financial Services Authority has recently voiced concerns about the increasing length of banks' financial reports being used for this purpose."


**********************************


Is 'hiding' important information within a mountain of useless data a "financial crime"?

It should be, if the banks had been open and transparent with the regulator all along then we taxpayers might not be feeling so queazy today.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.