Tuesday, 3 July 2012
you will have noticed...
... that within a couple of hours of yesterday's posting, there were announcements re possible fraud investigations. You presume that the government read what I said and was spooked into action; me, I'm not so sure. Be that as it may, here is my follow-up:
My main worry yesterday was that the bankers are too rich and will try to make the case too complicated for them to be properly prosecuted. Alexander Fox, head of litigation at the law firm Manches, said on the BBC that, "There's a quite constrained public purse in the UK. Jury trials for criminal prosecutions are costly and lengthy. And often jurors are completely lost as to what are the nuances of the crime."
Well, it would make me feel a bit sick if the only reason we can't prosecute the bankers for a crime, if that is what has happened, however complicatedly (and I bet it is nothing like as complicated as they pretend - most of them are pretty bright but not very bright), is that we can't afford to pay the lawyers.
My solutions to this problem are:
1. As per yesterday - go after two of them you can get evidence on, get them in a room, offer them a deal to shop their friends. I bet they will.
2. Involve the Americans. I don't like it, but if they will pay lawyers enough to prosecute, then there it is. I am happy to see the bankers extradited. If the cases are very, very long and complicated, and they will have to do them in the USA, that would be funny.
3. I am less than satisfied with the thought of civil suits, if this is a crime.