BEWARE OF THE BANKING REGULATIONS.

We have pointed out previously, the problems of throttling the banking industry. This is not a reference on behalf of the banks in Britain. In earlier postings, you will note serious misgivings regarding their operations in recent years, much of which was due to lack of safeguards being in place. The last Government's introduction of the Financial Services Authority detached the Bank of England from overseeing the problems that were mounting. Gordon Brown needed the electorate to carry on borrowing unchecked, making folk, albeit simple folk, feel better. The author had this out with his own bank in 2003. Where was the money coming from? One could argue that it is the banks' business to loan money; but only a fool would think everything was in order.

Nevertheless, having pointed out on more than one occasion, to break the banks up would mean that they would be picked off by foreign banks. Such transactions could well be supported by their own Government's backing, with tax concessions; should that country be in the European Union, and on the receiving end of monies from our contributions to the EU, we could be subsidising the downfall of the last major industry at our disposal.

It is refreshing that certain people are becoming aware of such a possibility, if letters to the press are anything to go by.


POLITICIANS WILL NEVER MAKE US MONEY, THEY ONLY TAKE IT AWAY.