What's a Dodo?

John Vickers, Chair of the Independent Commission of Bankers, suggests that Investment banks should be ring-fenced and separated from the Lending/Saving bank function.

The banks say that this will seriously impair their ability to lend.

Vince Cable says the banks are being "disingenuous"

The decision on ring-fencing is being delayed until 2015.

With many others, I watched the tent village grow outside St Paul's Cathedral in support of the 99%.  Whatever your beliefs, St Paul's is a potent symbol of National defiance and of hope for the future and there is a subtle difference between the "People" championing a cause by hijacking a symbol and betwen a government or state doing the same thing "In the name of the people".  In fact, it is not even that subtle, many people just don't trust the government to say or do anything that is honest, because they are seen to be corrupt, egotistical and selfish.

To be fair, the bankers have their own perception of the world and may believe that they are doing an invaluable job in oiling the wheels of Industry and providing employment in the City of London.  However, it is easy to be cynical and there is undoubtedly an element of self-interest.  It was interesting to see on television the bewilderment from protesters and bankers, when trying to understand each other's point of view.  It was in this vein that William Hague made condescending remarks about the importance of the Banking System and the time-wasting being shown by the protesters who would achieve nothing with their actions.

How difficult is it to understand?  The Investment Banks are corrupt, greedy and discredited and should be outlawed.  Their retention will surely lead to the collapse of the Banking System.  It is in few people's interest to see a massive collapse in the world's financial systems with the related and inevitable social unrest and displacement and so action is needed now.

Another image that I liked was of a Chartered Accountant standing in solidarity with the protesters, showing the extent of the consensus of the 99%.  There is a clarity of well-reasoned thought behind the bitter objections to the excesses of the Banking System that cannot be denied.  Unless our Governments can come clean and "Change their spots", then like the Banking system they will become Dodo's.