Monday 28 December 2015

Alistair Darling Is A Banker

It seems congratulations are in order to Alistair Darling, the former UK Chancellor of The Exchequer, on his new job with Morgan Stanley Bank.

It certainly makes sense that a man with such an illustrious financial background would be suited to working for one of the worlds most illustrious financial institutions.

But hang on a minute.

Wasn't Alistair Darling the chancellor who presided over the biggest global economic crash the world has ever seen in 2008/2009?

And wasn't Morgan Stanley one of the 'too big to fail' banks that had to be bailed out by the Federal Reserve to the tune of just over $100million and were forced to cough up $2.6 Billion by the Justice Department earlier this year for selling dodgy sub prime securities they had bought from New Century knowing they were junk?

Perhaps Alistair is joining them in an effort to show them the error of their ways. I suppose a bit like one of those principled and conscientious volunteer citizens who does charitable work in order to help rehabilitate others.

After all, there's been no mention of Saint Alistair's proposed salary with Morgan Stanley so maybe he's working for them for free? How noble.

However, call me cynical, but I have a sneaking suspicion that there may be a little bit of renumeration involved here.

Is it possible Morgan Stanley feel enough time has passed for us to forget what went on nearly a decade ago and it's now an appropriate time for them to dish out a wee 'thank you' to global politicians who saved their global bacon in 2008/2009?

Either way, his old buddy Tony Blair gets a reported $2million a year from JP Morgan as a part-time adviser.

I suppose until we actually get wind of Alistair's new salary from Morgan Stanley we'll have to toss a coin to see whether it's Mr Darling or Mr Blair who wins the prize for the most blatant prostituting of ones self.