Friday, March 13, 2009

Royal Bank of Madoff

Some much needed light relief; "The Daily Mash" is in prime form with a comment on Bernie Madoff's fundamental mistake.

http://www.thedailymash.co.uk/news/business/madoff-pleads-guilty-to-not-being-a-bank-200903131639/

The picture of the "Royal Bank of Madoff" is a quick adaptation of the "Royal Bank of Scotland". RBS's recently departed Chief Sir Fred Goodwin has pocketed a pension of well over $1 million a year after flying the bank into the ground - and thus into the pocket of the taxpayer.

Despite all the ludicrous huffing and puffing by the media and various politicians, there is no legal way of relieving him of the money. And he is only 50 and in excellent health, so we may be paying him the $1 million a year for the next 40 years.

Still, informal vengeance is often the best. Some one daubed "Scumbag Millionaire" in large letters opposite Sir Fred's home in Edinburgh - in the same neighbourhood where J K Rowling of "Harry Potter" fame lives. As you might guess, it is a rather different neighbourhood from that inhabited by Danny Boyle's Edinburgh druggies in "Trainspotting".

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