As former chancellor Alistair Darling says he was “worried that the bankers would bring us all down”

Added: (Tue Sep 06 2011)

Pressbox (Press Release) - Extracts from Alistair Darling the former chancellor of the exchequer’s book, ‘Back from the brink: 1000 days at No 11’, have been leaked to the press recently. As a result some very stunning revelations from the man at the very political center of the financial meltdown have described bankers as stupid and arrogant. "These leaks show the depth of concern at the highest level of the government during the global banking crisis," says Jesse Young CEO of Per DM Group the leading UK outsource sales organization.

For example talking of RBS Darling said: "I knew the bank was finished in the most spectacular way possible. If the markets could give up on RBS – one of the largest banks on the world – then all bets were off." Clearly this explosive book will bring into question once again the capabilities of those senior executives remaining after the banking restructuring that followed the crisis. Per DM’s CEO believes that; "It’s the banks not business who need to change."

The government has challenged the private sector to create growth, stimulate the employment market and be adaptive to the ‘big society’ while at the same time it appears to have allowed the banks to continue to restrict lending and increase interest rates on borrowing. "If the banks, a fundamental part of our economy, a sector which sits at the epicenter of our society aren’t willing to support this effort, what hope is there for business and the man in the street?" Per DM Group asks. It seems that the government is powerless to act and the current legislation even for the banks owned by the country is lightweight and ineffective believe private businesses.

Of course we need a strong banking system and the revenues that they bring to the treasury. Therein lies the problem says Jess Young of Per DM group; "The government if too frightened to act in the interests of country’s private sector. We have seen a polarization of values here. On the one hand we hear the prime minister David Cameron calling for the country to embrace the ‘big society’ while on the other hand he is allowing the banks to strangle the revitalization of our economy to their own benefit."

The UK economy is strong. It has huge reserves and has proven historically to be an agile economy adapting to change. However always at the heart of that was a banking system which was flexible and collaborative. Now we are an economy working with a banking system that appears sits above and outside our economy. “We have banks that have disenfranchised its customers and appear to have no empathy for their basic needs,” says the Per DM CEO. "That is unforgivable and extremely worrying. It is difficult to see where trust can be rebuilt now."