Are we rock bottom enough yet?.. Many readers might not yet know some of the fantastic achievements of the Conservative front line. Hand in hand with other MPs we know Sajid Javid was one of the bankers who crashed the global economy back in 2008.
So of course there should be no one of higher esteem and better ability to fix the problem then.. By getting us more into debt and filling his pockets with cash!! and we wonder why everyone’s so greedy nowadays..
Behand his sober banker façade (just like Clark Kent’s superman specs) Sajid in his younger days played “pass the parcel” with debt timebombs that altogether crashed many global banking brands across the world back in 2008.. Sajid described by an SNP MP at Westminster as insufferably dull and charmless.. unless you have some dodgy banking loans to embezzle!. then he miraculously dons the red cloak of interest..
It appears that:
During an astonishingly successful, 18-year career in American and European banking – where he rose from nothing to the stellar heights of becoming a Board member of Deutsche Bank International – where he learned how to destroy 1000s of jobs and crash the world by being a key player in the international banking developments – and catastrophes – of the past three decades.
Before his move into politics Javid was a banker at Deutsche Bank, where he sold complex financial derivatives called Collateralised Debt Obligations (CDOs).
CDOs were economic alchemy schemes designed to turn toxic bad debts into fake gold-plated investments.
The whole thing defied economic logic… they were junk investments that were bound to implode sooner or later.
If we’re charitable to Javid, then we could argue that he was a clueless dupe, naively selling a load of toxic junk in good faith simply because he was too stupid to investigate the products he was actually selling, and so poorly connected within the CDO industry that he was unaware of the open secret amongst his peers that the products he was selling as safe investments were actually bound-to-fail financial Weapons of Mass Destruction.
The other explanation is, of course, much worse. If Javid was smart enough to realise that the CDOs he was selling were bound-to-fail junk, and he was in on the open secret within the trade that they were certain to implode one day, yet he carried on selling them as safe investments to oblivious customers like other banks, pension funds, local and national governments, and insurance funds as low-risk investment opportunities, then he’s a cynical and duplicitous fraudster.
Let us then not forget – the causes of the 2008 banking crash were the bankers themselves who knew what they were doing.. playing the system to offload unsustainable debt which will cause decades of suffering to normal working class people across the globe. Sajid – we thank you for your expertise.. Now we understand why Boris Johnson the Johnson sees him as such an ideal pick for the cabinet..