The financial markets have now had a day to look at the second rescue of the banks proposed by Gordon Brown and Alastair Darling. The FT’s Alphaville blog has this thought on it. The chap repeatedly pictured, in the (flak?) jacket, is the current head of Royal Bank of Scotland, Stephen Hester. This pen profile of him – from The Telegraph – talks about his dry sense of humour.
The qualities and experience that he will bring to the role include a highly respected intellect, an enormous capacity for work, experience of the banking sector both as a lender and a borrower, and a sense of humour that is so dry some have quipped that it has long since evaporated.
I bet his sense of humour felt like evaporating today.
UPDATED: 19.45. Away from the cheap jokes, Chris Dillow at Stumbling and Mumbling reports the idea that the partial nationalisation of the banks we currently have, is now a contributary cause of their continued aversion to the risks of making loans.