This credit crunch seems to drive people to very strange decisions.
Clearly the Dunfermline has had an annus horribilis but the view on the non-validity of its balance sheet seems a bit kneejerk.
One argument is that it’s trashed to the tune of over a billion. The other that £50 million or so would fix it.
So. What’s the story? My view is that it was a fixable problem.
With a government in total freefall; clueless; PR stories at farcical levels (the Home Secretary’s porno bill); global meltdown; what chance did The Dunfermline have?
What’s going on man? It’s bonkers. This looks like a very fixable problem. But instead we get the heavy hand of officialdom coming in and messing everything up.
I thought the A in FSA stood for Authority.