Thursday, 18 September 2008

The End of Super Squirrel...

About 20 odd years ago, my dad took me into Paisley to open my first bank account, my parents had accounts with the TSB and the Bank of Scotland. In my infinate wisdom, i choose to join the bank which gave nine year olds with a bit of Christmas money the most freebies, so i joined the Bank of Scotland (hence the reference to Super Squirrel, the symbol of the Bank of Scotlands banking for children).

Although my current account is now with another bank, there is a part of me that is sad about the demise of the Bank of Scotland. Their problems did start with the merger with the Halifax. Moving my current account from HBOS was purely down to their Current Account product discriminating against low wage earners. Thats not to say that what has happened to them over the past few days is justified. I feel sorry for the loss that will visit the HBOS employees in the weeks and months to come.

If anything, what we have seen this week, with the collapse of Lehman, and the butchering of HBOS, which appears to have broken every city rule in the book (even Brown has bent the rules by speaking to Victor Blank, the chairman of Lloyds TSB before the takeover), isthe ugly face of capitalism.

Almost as ugly however is the response from our elected representatives. More shutting-of-the-door-after-the horse-has-bolted from Brown & Darling. Some hand wringing from Comedy Dave. Salmonds response takes the biscuit. He described the city traders as "spivs and speculators". Of course the SNP's main priority, which is steadily being revealed to us, is to make Scotland a good place to do business. Obvously not a man who has heard the phrase "Those who live by the sword, die by the sword"

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