Follow by Email

Tuesday, 29 April 2014

The Royal Mail privatisation rip off, will not be investigated. Are we really surprised?

Royal Mail Privatisation Will Not Face Probe, Says City Watchdog


Business Secretary Vince Cable and Business Minister Michael Fallon

FCA chief executive Martin Wheatley

"FCA chief executive Martin Wheatley told MPs that the watchdog had seen no evidence of regulatory failure, despite being unable to say if the process - which saw Royal Mail's share price soar 38% in the first day - had entirely complied with the rules as it had not launched an investigation."

The government, certainly the Tory part of it, "gave away" Royal mail at a knock down price to friends in the city. The "sale" of a few shares to the workforce at Royal mail was no more than a token gesture. It is hardly surprising that the scam privatisation will not be probed by the Financial Conduct Authority. Like the man said, "They are all in it together".