If you are on the lookout for propaganda, remember that timing is critical. It is no co-incidence that Victor Blank, ex-Chairman of Lloyds has today penned an opinion piece urging business to start a 'giving revolution'.
On the same day Lloyds have announced losses of £3.5 billion for 2011. Most of the losses have been attributed to 'mis-selling insurance' - in other words Lloyds used their financial muscle to con people into buying worthless guarantees. Something which, if you or I had done it, would leave us facing criminal charges.
Mr Blank makes no reference to this fraudulent activity carried out while he was in charge. Nor should we expect him to. A greedy, self-serving attitude runs through the world view of the financial industry like lettering through a stick of Blackpool rock.
RBS yesterday announced that it had lost £2bn in one year - but the bankers need not worry, the nearly £1bn bonus payments will go ahead as planned.
When Stephen Hester, the RBS boss, got a bit of stick about part of his bonus, he confided that he contemplated resignation, but decided against it on the grounds it would have been 'indulgent'!
Hester's abhorrence of indulgence did not spur him to reject the rest of the several million he received in salary and other options. No - he will stay in place with his millions.
As will Lucas Papademos, the unelected Greek Prime Minister. After joining the Boston Federal Reserve Bank in 1980 he was promoted again and again. From Chief Economist at the Bank of Greece to Deputy Governor and finally to Governor in 1994.
Where he stayed until 2002 when he became Vice-President of the European Central Bank before sliding smoothly into the position of Prime Minister of Greece in 2011.
It is generally accepted that Greece 'cooked the books' in order to enter the Euro in 2000 and stay there (see here, here, here and here). This happened while Papademos was in charge - but don't expect a 'mea culpa'.
Like Hester and Blank, Papademos has been rewarded for failure and is respectfully referred to as an authority figure.
When Mr Blank says: 'At a time when the elastic connecting the wealthy and the poor is stretching to snapping point, the corporate world ignores festering social tensions at its peril' he exposes the real purpose of his comment. Fear.
But even as the distant sound of pitch-forks being sharpened permeates his awareness, he cannot escape the bankers emotionally crippling mind-set.
He suggests tax-relief for corporations and 'tax incentives to the rich to donate art and other assets during their lifetimes'!
So once again the public pick up the tab as more wealth is ratchetted towards the soulless homunculi directing the psychopathic corporations that dominate our world.
Now, where did I put that pitch-fork?
Posted by Nicholas Moore 11:45:48 am