Buffett Gets It All Wrong On Banks... Did he?

Why are we having painkillers for a financial system that was designed by those who it benefits (the incompetent government and bankers). I concur with Mr W Buffet, in that there ought not to be government intervention in the name of bailout of most of these banks, like RBS. How dare these banks in receipt of taxpayers’ money for survivor even contemplate bonuses while still deep in the RED?

If the banking brains where as brilliant as claimed by their employers such as RBS, BOS who the hell did fail to recognise that the instruments they were trading in or product designed were flawed? Save us the bullshit, the justification of talent drain is a complete and absolute nonsense. Some of these bank employees get high reward without the corresponding level of risk, yet the government is toothless to take a meaningful bit at the bank, to be seen acting, instead of fiercely and actually acting. One does not need a crystal ball to know that government primary interest to intervene was to save themselves the enormous social and political unrest that may have potentially arouse were the banks allowed to fail.

Most of us lost millions of pounds/dollars as a result of extreme challenges borne out failures from the misguided and incompetent bankers. After receipt of bailout money, they had the nerve to award themselves bonuses. They are being rewarded for incompetence and the labour government (not that conservative would have done any better) are toothless to use its power as custodian of taxpayers’ money to freeze even an ounce of bonus until the monies advanced to cushion the banks are completely paid back with interest to the treasury.
Trust me when I say, there are the likes of Warren Buffet and solvent banks out there, like panthers, waiting to pounce on failed banks, acquire them on the cheap (still works out cheaper than government bailout) and will staff the bank with less paid talented individuals that would deliver better performance and returns for their investments. I do not have to be a banker, to know that that some executives are only interested in their selfish interest on the pretext of talented brain drain, what brain drain? Get out of town, complete and utter nonsense!

THANK YOU PRESIDENT OBAMA - NOW REMOVE NIGERIA FROM THE TERROR WATCH LIST.

President of United States, Barack Obama officially acknowledged the failings of his intelligence machinery when he said this, “The bottom line is this - the US Government had sufficient information to have uncovered this plot and potentially disrupt the Christmas Day attack, but our intelligence community failed to connect those dots.”

This was indeed not a failure by the American intelligence machinery not to collect intelligence, but a failure to comprehend the intelligence reports at their disposal. That failure, as mentioned in my previous article in my blog, potentially would have caused several losses of lives. Not to mention the lives of families and friends that would have been devastated by the loss of dear loved ones. Yes, President Obama, you were damn right, not to mess words, "a screw up that could have been disastrous", the failure is definitely “not acceptable”.

Mr. President, we indeed narrowly dogged a bullet, not by failure of the Nigerian intelligence community, but by your well financed and equipped intelligence agencies, who failed to integrate and fully comprehend the intelligence before them. Umar Farouk Abdul Mutallab would not have been able to transit in Nigeria without being arrested had your intelligence agencies, namely the CIA shared what they knew with their Nigerian counterpart. To now label Nigeria as a country of interest on US terrorist watch list, thereby criminalising and subjecting a 150 million peace loving Nigerians to degrading search, due to a singular act of an individual, Umar Farouk Abdul Mutallab who from his teenage years have been a product of foreign influence – obtained his education abroad, influenced and indoctrinated abroad, from UK, UAE, Egypt and then Yemen, is unfair, unjust and against natural or equitable justice. Outside of what we knew, you held your hand up, your head upright, looked at me and millions of other people in the world and admitted the failings of your intelligence community. In view of that fact, it is my submission that it will be honourable of you to now remove Nigeria from your terrorist watch list. Over forty nine years of Nigerian’s history, there has never been an act of terrorism against the outside world, except for this once by Umar Farouk Abdul Mutallab and if not, but for, the failures of your intelligence community, the said individual would have been on a ‘no-fly’ list and Nigeria would have continued to maintain her good name in the international community.

NIGERIA IS NOT A TERRORIST COUNTRY

On what rational basis can America justify the inclusion of Nigeria on America terrorist watch list? The argument that a 23 years old Nigerian, Umar Farouk Abdulmutallab attempted to detonate a device on an airline on 2009 Christmas day is insufficient in the circumstance. Why? The culprit’s father, Alhaji Mutallab, a formal chairman of one of Nigeria’s foremost and largest banks, informed the American embassy in Nigeria of his son, Umar Farouk Abdulmutallab, extremist tendencies, coupled with intelligence already at the tables of American intelligence operatives. What did CIA do? They sat on it, did nothing, failed to share the intelligence reports with her counterparts and at the time with Nigerian security operatives. 289 people, inclusive of properties, potentially would have lost their lives because of that negligence. As a result of those failings, Umar Farouk Abdulmutallab transited in Nigeria where he boarded a KLM flight to Amsterdam and onwards to America to commit the heinous crime of terrorism. Thank God he failed to succeed!

Nigerians are not terrorist, and certainly do not deserve to be subjected to a degrading search in the name of counter terrorism measures, because such or any terrorist act is absolutely alien to Nigerians. Send Umar Farouk Abdulmutallab to Nigeria today and see what Nigerians would make of him! He will be lynched to death especially by the youths of Nigeria who believe, and rightly so, that by his act, he has brought shame to the nation, Nigeria.

American intelligence operatives - the CIA, failed the American people, equally failed Nigerians and us as a people. Had they acted on intelligence before them, instead of seating on it, Umar Farouk Abdulmutallab would have been arrested in Nigeria. Thus, he would not have had the opportunity to almost kill 289 people. It is therefore, unfair, unjust for America to now label Nigeria as a terrorist country, or a transit spot for terrorist. However, it is labelled; it is still a bad name. Nigeria should be removed from that list, Nigerians are good people not terrorist, CIA failed Nigeria and should take the rap for it, not innocent Nigerians.