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Will the Treasury select committee knockout the UK bankers?

As the show trial of the so-called "Masters of the universe" starts today, those expecting the Treasury select committee to deal a knockout blow to those at the top of the UK banking sector may well be disappointed. While there is no doubt the likes of Sir Fred Goodwin will take a serious pounding from the MP select committee this is nothing compared to the pressures and challenges they have had in their business lives.

While just a short few months ago Mervyn King, the Gov of the Bank of England, was ridiculed and humiliated by members of the so-called Treasury committee, those who have been at the top of the banking sector are unlikely to be intimidated. As we mentioned on one of our earlier post, the UK government will surely be concerned about potential revelations regarding how the UK government and the regulatory authorities acted during the ongoing recession. Did they assist the banking sector quickly enough? Did they fudge the chance to kill the downturn stone dead? Why did they not see the economic crisis coming?

It will be interesting to see this locking of horns as many people may be surprised to see how resilient and strong the "Masters of the universe" really are.

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