One doesn't know whether to laugh or cry

[Robert Henderson]

Note: Now let me see, William Paterson (Darien fiasco), John Law
(bankrupted France), RBS and HBOS (both ruined by Scotchmen) .... RH

Telegraph
City minister Lord Myners says every bank needs a 'cynical Scot' They
may be typecast as gloomy, sullen and obstinate but the stereotypical
dour Scot may have at last found their calling.

By Louise Armitstead
Published: 12:09PM GMT 18 Mar 2010
Comments 37 | Comment on this article

Lord Myners, the City minister, has been vocal in his criticism of banks
Photo: RETNA PICTURES
Lord Myners has said that every bank should appoint a “cynical Scot”
to its audit committees as a sure way of smothering the ambitions of the
board.
The City Minister told the Future of Banking Commission on Thursday that
the key to guarding against another crisis is to ensure that bank boards
are subject to proper challenges from a “devil’s advocate” who
would not simply accept the “conventional wisdom”. He told the
Commission that “every audit committee should appoint a cynical
Scot... someone with an element of dourness” to check the ambitions of
the board. ....
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Robert Henderson
Personal website: http://www.anywhere.demon.co.uk