February 13, 2009

CCAG: “For Risk Management read Mismanagement”

It has been extremely interesting watching the televised ‘grilling’ of Bankers by the Treasury Select Committee over recent days.

What occurs to me is the stark parallels which can be drawn from the way the Banks were (mis)managed and the way we (mis)manage the coast.

It seems to me the demise of the Banks (which has led to financial chaos) is due largely to suspect ‘Risk Management’ techniques and the marked absence of good old fashioned sound banking principles and practice. The result is financial chaos on an unprecedented scale.

Read the full article by Malcolm Kerby on the Coastal Concern Action Group website

Filed under: Blog — Tags: — jaydublu @ 12:53 pm

1 Comment »

  1. It is astonishing to see that Government seems willing and able to spend billions of taxpayer’s money to bail out the banking sector whose own mismanagement has caused this chaos and financial disaster, yet the same Government has allocated a mere £800 million pounds for the total flood defence budget in Britain this year which, as we all know, is totally inadequate to deal with the situation ! Given that many coastal dwellers are presently at risk of losing their homes (or have already done so), due to failing sea defences caused by lack of investment from Central Government, it is difficult to accept that banks are given bail-out packages paid for by us – the taxpayer – , yet no social justice or bail-out package can be allocated from ‘taxpayer’s money’ when it comes to defending our coast or compensating those affected by Government’s mismanagement of coastal policies. If we, as taxpayers, would have had a say on how our money is spent , it seems pretty certain that most of us would have opted to protect our coastline and heritage rather than feeding our hard earned money to the loan sharks! Call that democracy?…!!

    Comment by doc — February 14, 2009 @ 8:14 am

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