Head of the Bank of England, Mervyn King Admits Failure. Too Late.

Today, Sir Mervyn King admitted that the Bank of England had failed to act to warn of the coming banking sector disaster in 2008/09. His excuse is that he was hamstrung by the decision to move the regulation to the FSA, financial services authority. Rubbish. He was doing exactly what he was told by the very same banks that were going to fail. If he had spoken out about his fears earlier, the banks might not have been able to make a case to be bailed out. A succession of governments have to take the blame for this shambles. Thatcher allowed a culture of greed to emerge in the city of London when she came to power in 1979 and her policies were continued throughout the eighties and into the nineties, and yes, even when Tony Blair became dictator, sorry Prime Minister, Thatchers policies were continued. To quote from the movie "Wall Street" "Greed is good." The downside to that culture is that it is only good if you are one of the top earners in the business world. They can be greedy, but we have to pay for it. This, is in fact tyranny of the worse kind. Throughout Europe, the same policies are being carried out by the governments of Greece, Spain, Portugal, to name but three, and things are coming to a head. When you look at financial crises in recent history, the problems were sorted by orchestrating huge wars, and we are heading for the same scenario today. The Israel/ Iran problem is ongoing. There is still fighting going on in Libya, the same in Syria and Afghanistan. Today, Russia said that it would consider a preemptive strike on the proposed US/NATO missile defence shield in Europe which they see as a direct threat to themselves.
Back to Mervyn King. His solutions to the financial crisis has been to just print money, yet another blast from the past, which led to hyper inflation. This is a road to destruction, in more ways than one. There is no sign that this crisis is going to end any time soon. The whole of Europe has gone back into recession. Rubbish, we are, and have been for a while, in a depression. No growth, no work, no hope, and what is our illustrious Prime Minister focusing his attention on? The Queens jubilee and the Olympics. More public money wasted. The Romans coined the phrase "bread and circuses" They at least had bread. We are running out of bread. the only hope is that the population of the world will wake up before it's too late. There are flickers of awakening in countries already, but it has to grow into an inferno. Only then can we turn this planet on it's head.