Tuesday, 9 November 2010
Britain is a country where old men can make new banks
I came across an article called 'Grumpy Old Men Bank' published by the B.B.C. journalist, Robert Peston, back in July.
He made the following points :
* It might be called GOM Bank,'Grumpy Old Men Bank' or, more exotically, OMIAH Bank for 'Old Men in a Hurry'.
* one striking characteristic of the Bank being created by Sir David Walker, Lord Levene, Lord McFall and Charlie McCreevy is their respective ages: 70, 68, 65and 60.
* another, is that they're 'immensely distinguished and energetic'.
* none of them have ever actually run, or even worked, in an executive capacity, for a retail bank, which is what they want to create.
* future employees of 'GOM Bank', shall have every moral right to demand that they too can work way beyond 65, which would create an intriguing operational problem.