Any self-respecting regulator would have walked.
But not Andrew Bailey — the corrupt head of the UK’s captured financial regulator — the Financial Conduct Authority. Not in Brexit Britain.
On the Take?
The man who’s overseen fraud on an industrial scale remains the bookies’ favourite, by some margin, to be the next Chairman of the Bank of England.
Too Big to Jail
His complacency over the ongoing Woodford scandal shows that Brand Bailey has itself become Too Big to Jail.
But could it be that the tide is finally turning?
The FCA, the Treasury, and the Treasury Select Committee have all been alerted to conflicts of interest, misselling, and fraud in Fund Management, Pensions, Local Government and Small Business but have repeatedly looked the other way.
Kent have been hit hard by the Iceland Crisis, the LOBO scandal, and now they are losing money at Woodford.
Outsourcing firm Capita’s traces are often to be found near the scene of the crime.
Retail fund manager Hargreaves Lansdown is also caught up.
But it’s Bailey who is instrumental in obstructing justice for small businesses on an industrial scale.
While banks fraudulently missold investment products to business customers which were then used to steal their customers’s assets, Bailey has done all he can to protect the criminals.
Is the top job at the Bank of England his reward?
Journalists like the BBC’s Andrew Verity & James Hurley of the Times like to make out they are on the side of the defrauded small businesses.
But when it comes down to it, the language they use on social media and in their output downplays the level of fraud coming out of the FCA, the audit firms, and the banks.
To be fair, Verity works for the BBC and Hurley the Times, so there is only so far they can go.
The main work these journalists do is in deciding what to hide from the public as opposed to what to disclose.
No wonder Bailey remains the favourite to take over as Chairman of the Bank of England.
Were our mainstream journalists not so craven, Bailey would be looking at Belmarsh, not Threadneedle Street.
The biggest Bailey cheerleader of them all is Alex Brummer, City Editor at the Daily Mail.
Brummer writes very well on foreign takeovers.
But when it comes to Bailey, Brummer is the most corrupt.