It’s
been quite a few days for the ex-boss of failing Co-operative Bank Paul
Flowers.
Tabloid
revelations suggest that he has been caught buying Class A drugs as well as
having ‘relations’ with ladies of the night.
I
do not approve or understand the need for either……but the biggest scandal and
story is perhaps elsewhere……
How
did a man with ‘very limited’ experience (and I am being very charitable here)
end up in March 2010 becoming chairman of the Co-operative Bank - a bank with
£50bn of assets, £36bn of customer deposits and 4.7m customers?
How
did he ever meet the requirements of the Financial Service Authorities
regulatory requirements of a 'fit and proper' individual?
Answers
on a post card? Perhaps not……
Gordon
Brown’s Labour were in power in March 2010 – the time when Paul Flowers needed
to meet the ‘fit and proper’ requirements.
Coincidentally……Paul
Flowers currently sits on Ed Miliband’s Labour Finance Advisory Group.
Very
good of Labour to be so ‘co-operative’!
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