“Morals? My a**e!” screams Mr. Angry

With apologies to the more sensitive readers of ‘Enterprise Britain, but Mr. Angry (shown in relaxed mood) has just heard that the Governor of the Bank of England recently said that the UK’s traditional manufacturing industries operate in a more moral way.

“He can’t even control f*****g inflation” Mr. Angry observed to Mrs. Angry as he kicked the cat across the lounge. “What b****y right has he got to tell us about morals?”

The Governor was capturing a Cameron style theme of blaming somebody else for Britain’s overstated debt situation and heaping suspicion on our financial services industries. He has been joined by Lord Turner, Chairman of the Financial Services Authority, who has claimed that much of what the City does is “socially useless.”

Without home mortgages there would be no growth in the housing market, if hire purchase (which was in fact a way round the Moneylenders Act) had not developed, millions of people would not by using a motor car, the existence of trade credit has enabled the global trading world to emerge.

Credit, used prudently, is one of the great developments of the civilised world.

The problem is that at present the Government (aka Cameron, Osborne and May) has no idea how to progress from the economic stagnation shown by last week’s (lack of) growth figures and at a time when the real cuts are about to bite.

“You know I should be the f*****g Prime Minister” claimed Mr. Angry during his Easter break. “More bank credit, more Government support, cut defence spending a lot more, cut overseas aid, pass me a corn beef sandwich please, Mrs. Angry.”

“I’d like the rate of interest on my credit card reduced please Mr. Angry.  “30.3% does seem a bit high.”

1 comment for ““Morals? My a**e!” screams Mr. Angry

  1. 5 May, 2011 at 14:05

    ‘Prudent’ is the key word, but ‘prudence’ – as ‘integrity’ – is prone to many interpretations, isn’t it? Adam Smith’s prudence was quite different (ethically) from Lloyd Blankfein’s, to mention only one of many… Except for a few, show me a banker or private equity investor who’s thinking long term and durability and is not trying to bend the rules…

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