Arrogance and the City – they just don’t get it

28 Aug 2009, by Nigel Stanley in Economics

With TUC Congress only weeks away we are all too busy to do much blogging at the moment, but this is too good to miss.

There is of course much comment on Adair Turner’s splendid remarks on finance, including serious arguments on both sides. But then there is this:

Howard Wheeldon, of the stockbroking firm BGC Partners, said Turner had moved beyond his brief in making those comments and it would be “time to turn the lights out in the UK” if the tax were imposed. “Quite honestly I am appalled, disgusted, ashamed and hugely embarrassed that I should have lived to see someone … who already commands a senior and crucially important position as effective head of the UK regulatory regime, making such damaging and damning remarks.”

They don’t like it up ’em, do they?