There's been a bit in the papers recently about a French chap who managed to squirrel away 4.9 billion euros ($7bn; £3.7bn) when working at his bank. We Brits always like a good story at the expense of the French although, to be fair, our very own Nick Leeson did to forge the way in 1995. He only managed to lose £827 million ($1.4 billion) but he did get to demolish a bank that was already over 60 years old when the one above was built. The Societe Generale seems to be hanging on at the moment.Back in the early 18th century, the banks didn't bother to hide their penchant for wasting your money. It was all for show. Give us your hard-earned cash, they'd plead, kneading their lily-white hands, and we'll squander it on some graceful shells and perhaps some fashionable twirly bits. Just whatever is in vogue with that wastrel, the Prince Regent. A shield with the city coat-of-arms would look nice; not cheap though, the very devil getting a group of Worcester Pearmains to look the business. Then knock it all up in a tasty bit of sandstone - none of your plebeian bricks for us. Voila! We get to work in a flash building and you get a lot less in dividend.
It was ever thus.
3 comments:
Nothing changes.
at least you chaps get a nice looking building - our banks make no such pretense. they just take your money and don't give a hoot about what you might think. the sad thing is that we allow it. shrugging as if to say, what can you do?
Pauline - short of putting in a sock under your mattress, very little.
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