Michael "Woody" Sherwood - vice-chairman of Goldman Sachs group and co-chief exec, Goldman Sachs International - attempts to justify his bank's actions during the financial crisis in an article in The Times today.
“What is common to the investment banks, commercial banks, mortgage banks and insurance companies that failed in the past year is poor management practice,” he muses.
True, but the implication of Woody's line is that those banks that did not fail were somehow spared by good management. Nothing to do with government bail outs, then.
Showing posts with label financial crisis. Show all posts
Showing posts with label financial crisis. Show all posts
Friday, 23 October 2009
Thursday, 8 January 2009
Carry on cutting
Are the rumours about an imminent demotion for shadow business secretary, Alan Duncan, all about him missing the Conservatives' recession tour to go skiing in Davos?
The reality is that the genial front bencher's performance during much of the financial crisis has been absolutely woeful, during which time he has been practically anonymous.
A quick scan of the cuttings engine finds just 74 national newspaper references to "Alan Duncan" along with the words "recession" or "bank" in the past six months. Meanwhile, there are 1,066 using the same terms relating to business minister, Lord Mandelson.
That's a (reasonably) fitting number, being as it seems to spell Doomsday for Dunky.
The reality is that the genial front bencher's performance during much of the financial crisis has been absolutely woeful, during which time he has been practically anonymous.
A quick scan of the cuttings engine finds just 74 national newspaper references to "Alan Duncan" along with the words "recession" or "bank" in the past six months. Meanwhile, there are 1,066 using the same terms relating to business minister, Lord Mandelson.
That's a (reasonably) fitting number, being as it seems to spell Doomsday for Dunky.
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