The New World Order

One of the staples of the Hollywood B movie was the Mad Scientist working away in his laboratory desperately trying to engineer a monster or come up with a powerful formula which would lead to world domination. Inevitably all these grandiose plans ended in failure and the world carried on as before.

Fast forward to today’s world and the threat originates from a different source, best described as the Mad Banker. Working away not in laboratories but behind banks of computer screens these would be Masters of the Universe were also trying to control the world through their own form of financial engineering.

 

By developing trading instruments and programmes of ever increasing complexity they created monsters which just like Dr Frankenstein they could not control.

The results of these spectacularly flawed experiments are now clearly visible. Last week the boss of RBS advised shareholders that problems are still emerging from the financial crisis leading to further write off in the coming months.

The greatest irony of all is that despite all the evidence of their incompetence and sheer recklessness any business seeking additional funding to expand their business finds that they are in thrall to the very architects of the disaster – the Bankers.