ALEX BRUMMER COMMENT: A new look for bank boards
The sudden 出発 of two 非，不，無-(n)役員／(a)執行力のあるs, Carolyn McCall and Philip Green, from the board of Lloyds Banking Group on the same day looks too much of a coincidence to have been an 事故.
The 政府 株主 in the banks, UK 財政上の I nvestments, made （疑いを）晴らす some time ago that it was anxious to see a tighter board at Lloyds, 乗組員を乗せた by 独立した・無所属 directors with 深い knowledge of the banking 部門.
For all their 罰金 質s, neither McCall, the 長，指導者 (n)役員／(a)執行力のある of the struggling 後見人 マスコミ Group, nor Philip Green of 部隊d 公共事業（料金）／有用性s, 会合，会う that 実験（する）.
Once more with feeling: Prebble's play Enron 供給するs a guide to events which raised the energy 貿易（する）ing group to the ground, with songs and dancing
It may not have been new chairman 勝利，勝つ Bischoff who engineered these 出発s, but he must have been 井戸／弁護士席 aware of UKFI's wishes when he stepped up to his new 職業.
The loss of the Lloyds Banking Group 職業 will difficult for McCall, who until recently had been building on her 後見人 experience to 開始する，打ち上げる a 平行の career as a 非，不，無-(n)役員／(a)執行力のある.
In April 2008 she felt the need to step 負かす／撃墜する from the board of Britain's biggest retailer, Tesco, after the company 絡まるd in the 法律 法廷，裁判所s with the 後見人 over the paper's unproven 主張s of 税金 avoidance by the grocer.
In her 辞職 声明 from Lloyds, McCall makes an intelligent point. She 公式文書，認めるs that the 'level of time and かかわり合い 適切に 要求するd of a 非，不，無-(n)役員／(a)執行力のある in the banking 部門 has 増加するd 劇的な'.
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Until now the 独立した・無所属 directors at Lloyds might have been 推定する／予想するd to do 25 days a year, which is almost a month out of their working lives.
However, the Walker 報告（する）／憶測 on 銀行業者's 支払う／賃金, which is 推定する／予想するd to be 可決する・採択するd by the 政府, 示唆するs that 30-36 days might be appropriate.
That is more like six weeks, and a long time for any 長，指導者 (n)役員／(a)執行力のある to be away from their desk however worthy the 原因（となる）. 交替／補充s with a 財政上の background have already been 明かすd in the 形態／調整 of former Hermes boss Tony Watson and 投資 銀行業者 Tim Ryan.
As Lloyds 捜し出すs to extricate itself from the 政府's しっかり掴む they will have their work 削減（する） out.
ENRON LESSONS
The 崩壊（する） of energy 貿易（する）ing group Enron into 破産 at the end of 2001 feels like a lifetime away given the '広大な／多数の／重要な Panic' of last autumn.
The uninitiated , still puzzling about the events which brought the 財政上の system 衝突，墜落ing 負かす／撃墜する, could do worse than 支払う／賃金 a visit to Lucy Prebble's play Enron 現在／一般に showing at the 王室の 法廷，裁判所 theatre in London.
Using puppets, music, choreography and some excellent 事実上の／代理, the play 供給するs a brilliant guide to many of the 概念s which brought Enron to its 膝s - and re-occurred in the banking fiasco.
The play romps through the 誤って導くing notion that '示す to market' is a （疑いを）晴らす and honest form of accounting, making the point that 収入s 記録，記録的な／記録するd on this basis could 消える in 未来 ４半期/4分の1s.
It 調査（する）s Enron's 決定／判定勝ち（する） to 始める，決める up a 一連の off balance sheet companies, partly 基金d by the 巨人s of 塀で囲む Street, which became ダンピング grounds for the energy 仲買人s' mountains of 有毒な 負債.
It also 調査するs how nonsense 'hedges' were created, not unlike the credit default 交換（する） 保険, to wish away the losses in the 負債 捨てるs.
Much of this is a very extreme 見解／翻訳／版 of what happened in the credit crunch, but it is strikingly familiar, as are some of the 指名するs such as Lehman Brothers that 手配中の，お尋ね者 a 株 of the 活動／戦闘.
There is one striking difference between Enron and the banking implosion. At the 崩壊（する）d Texas energy 会社／堅い all the major players ended up 直面するing 詐欺 and 共謀 告発（する），告訴（する）／料金s and long 刑務所，拘置所 宣告，判決s.
Yet 非，不，無 of the creators of the structured 投資 乗り物s at the banks - into which sub-prime mortgage 安全s were pitched - have 直面するd disciplinary 告発（する），告訴（する）／料金s let alone 犯罪の 起訴，告発s thus far.
Instead, many of them are busy ramping up their 特別手当s again. How can that be?
ADAIR'S ASSAULT
Good for Lord (Adair) Turner. He may have turned himself into a pariah in some City parlours with his 言及／関連s to socially useless 銀行業者s but he is 絶対 on the 権利 跡をつける.
Last night be moved the 審議 from an obscure 知識人 magazine, Prospect, to the heart of the City at the Mansion House.
He reminded 銀行業者s that 実験s with the 容認できない - like CDO squareds - can create 財政上の 不安定 and 原因（となる） 後退，不況s.
Last year's 危機, he reminded his audience, was 'cooked up in 貿易（する）ing rooms' by people 収入 年次の 特別手当s equal to a lifetime's 収入s for ordinary mortals.
Turner challenges the idea that the regulator should be about 促進するing an 産業 which is as large as possible as 存在 absurd. Strong stuff.
