Picking up the Penny

Guido won’t bother with the fashion round up this time, but devout nicotine addict Laurie Penny popped up on our television again this lunchtime, complete with a fake cigarette. Jackie Ashley had dropped out at the last minute from appearing on the Daily Politics, so our favourite flame-haired firebrand was called up to fill in. In the course of the interview she offered her services as chairman of RBS, declaring that she could do Hester’s job without the paycheck. Guido is sceptical…

Leaving aside the differences between turning around an enormous multinational financial institution and jetting around teenage trouble-spots with a smartphone, let’s just see what Penny’s comrades at the Occupy movement could teach us about running a bank:

“Following criticism of the way in which the camp’s financial affairs have been run, the finance group quit en masse. That included the person who has the key for the safe — with the result that no one could access the money. Coupled with the fact that donations are now lagging behind expenditure, there has been a serious shortage of money to pay for things such as food and power. Protester Leo Ashford, 20, …told reporters that despite generous donations by supporters, money had been squandered. ‘We’re protesting against bankers, and no one on our finance team knows how to use a ledger or a receipt,’ he said.‘In the second week we had public opinion on our side and enough donations to sustain ourselves. We all could have had brand-new tents and blow-up mattresses. Now no one knows where the money has gone. ‘I’m sad, but I knew a month ago that it would get to the point where we would collapse in on ourselves on essentially our own stupidity.’”

Watching the Penny, you better hope the pounds could look after themselves.

Video via @LiarPoliticians



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Quote of the Day

Shadow Education Secretary Angela Rayner:

“We have no plans to write off existing student debt.”

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