This is the ‘inconvenient truth’ that is wrestling for our Prime Minister’s attention, yet getting ducked down each time it makes its appearance. The elite’s motto is “ignore it and it may go away. If it keeps coming back, look past it as though it never existed.” LET’S FOCUS ON SOLUTIONS TO THIS SHALL WE ? LET’S HAVE A THINK-TANK AND BE CREATIVE IN WHAT WE COME UP WITH, AND IMPLEMENT. It’s time to redraw the maps, replace the lodestars, like they are doing for pilots on their flight path, as everything has moved a great deal and no longer makes sense with the old paradigm and structure. The sooner we can say ‘Good riddance to derivatives and fractional reserve banking’, the better. So what shall we all choose instead ?

The saddest thing about this crisis is, while it has blatantly exposed that the web of corruption goes right to the highest quarters, no one seems to have the will or the ability to change anything. We’ve heard lots of soundbites, lots of pontification and lots of supposed outrage but no action.

Billions of taxpayers’ pounds or dollars have been sunk into the bottomless pit of our financial system, millions of innocent people have lost their savings, pensions and jobs and now face life on the breadline. There are countless blatant examples of negligence, mismanagement, abuse, skulduggery and fraud from top bankers on both sides of the Atlantic. Nowadays no-one would even buy a used car from a banker, let alone a CDO.

Yet apart from the odd half-baked soundbite, neither Brown nor Darling have any desire to stop the rampant abuse. They continue to treat bankers as though they were trustworthy and honourable people. No-one in authority seems to have the stomach to root out the corruption nor to prosecute them for their crimes. Instead the government has allowed most of the people responsible for this crisis to get back to business so they can figure out new ways of orchestrating heists against the public.

If the entire disaster were to be written as an epic Tolkein-esque novel, how would you distinguish who the good guys would be? It’s easy enough to identify Mordor, and there would be many candidates to play the evil mastermind Sauron but who the hell would be Bilbo, Frodo, Gandalf or Aragorn in this evil plot? I can think of several people, and one in particular, who would have us believe he is a potential leader of a Fellowship of good but, personally I see him more as Saruman.

But then again Saruman was once a pretty smart wizard, so the person I’m talking about would probably make a better Gollum and his right hand man would make a very good Grimer Wormtongue.

Gordon Brown’s reactions to the banking crisis have simply shown him to be complicit in a conspiracy against the public and more recently as instrumental in a conspiracy of silence to cover up the truth. And why?

It may be because unlike with the mafia, there is no honour among bankers. If any of the main culprits in this global catastrophe were to be prosecuted, they would doubtless squeal from the rooftops grassing on all their mates and bringing about a chain reaction which would topple many of the “great and good”.

On a smaller scale, if the FSA were to take action against HBOS Reading and as a consequence, the SFO prosecuted the protagonists in that particular fraud against bank customers, would a lone ‘rogue bank manager’ take the blame for what happened? Or would he squeal on his consultancy chums and Lord Stevenson, Peter Cummings and Andy Hornby? Like a good mafiosi, could the bank manager be expected to serve a ten-year stretch in the Scrubbs and hold his tongue? I doubt it, the similarity between bankers and gangsters is only a matter of convenience. They might wear the same dodgy spiv suits but they are not the Sopranos.

But hey ho; the idea that one senior banker exposed would pull down many others is but a hypothetical theory but one I believe is potentially possible across the entire financial sector, the regulators and the government. And possibly that is why the name of the game is to close ranks and keep mum. So, for the time being, it seems the ring is safe on Sauron’s finger and middle earth is f**ked.

But wait – is that white horses I see? And is that … yes, it’s Hector and Adair. I mock not. I may not be the biggest fan of the FSA, but they may be our only hope. Lord Turner’s words at Mansion House may not have an immediate (or any) effect on the situation but the fact that he said them is a faint ray of hope.