Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-01-15-Speech-2-068"
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"en.20080115.7.2-068"2
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"Mr President, I wonder if I might perhaps offer a few words of wisdom here. I have spent most of my life in merchant banking, albeit not retail banking, and I have to say I do not regard it as the business of politicians to come between a consumer, or a lender, and a borrower. I would not dream of trying to regulate on this subject, with all my experience. I look down the list of people who actually serve on this committee and in this Parliament and I do not see a great deal of experience there, so it is a question of the blind leading the blind. I think that this place, which has not managed to audit its own books for nearly 11 years, commenting on this is slightly absurd.
The fact that you can actually have rules for Bucharest, London and Paris and consumers in those places is absolutely ludicrous. Perhaps I could warn people like the UK Government that bailing out banks to the tune of 50% of their entire reserves is fundamentally wrong.
So, if I may, let me give one tip to the consumer: ‘never a lender or a borrower be’, and to governments, let me say: ‘a fool and his money are soon parted’!"@en1
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