Saturday, 22 November 2008

What Jonathan Ross Tells Us About Banking Regulation


The following is an extract from the BBC Trust's report.

"The Producer wrote to Radio 2’s Head of Compliance … The problem comes when Jonathan says that Russell 'f*cked' Sachs' granddaughter ... I would say take it out, but it forms the crux of the call and is VERY funny … Let me know what you think. Russ and Jonathan both VERY keen for it to go out.

The Producer did not mention that Andrew Sachs had asked for the content to be toned down. He says he was extremely uncomfortable about the material but at the same time felt he owed it to Vanity Projects to make its arguments for inclusion with the BBC. That reflected the conflict of interest with which he found himself as an employee of the BBC while on loan to Russell Brand’s company.

The Head of Compliance emailed the Controller of Radio 2:
I think we should keep in and put a 'strong language' warning at the top of the hour. I think it's editorially justified in this context and certainly within audience expectations for Russell's show. Andrew Sachs is aware and is happy with the results. Are you happy with this as a plan of action?

The Controller sent a one word reply from her BlackBerry authorising inclusion of the material: Yes"
- - - - - - - - - - - - - - -

With just a very few changes, we can see how comprehensively the wider culture has been debased:

The Risk Manager wrote to the Bank’s Head of Compliance … The problem comes when Joe says that Russ 'has used slightly different contractual wording’ to that recommended by the Auditors ... I would say take it out, but it forms the crux of the deal and is VERY profitable … Let me know what you think. Russ and Joe both VERY keen for it to go ahead

The Risk Manager did not mention that the Auditor had asked for the unconditional financial guarantee to be removed. He says he was extremely uncomfortable about the guarantee but at the same time felt he owed it to the Private Equity division to make its arguments for inclusion with the Credit Committee. That reflected the conflict of interest with which he found himself as an employee of Risk Management while on assignment to the PE division.


The Head of Compliance emailed the Chairman of the Credit Committee.
I think we should keep in and put a 'risk factors' warning in the small print. I think it's commercially justified in this context and certainly within rating agency expectations for the sort of crap we regularly get them to sign off. Audit is aware and is happy with the results. Are you happy with this as a plan of action?

The Chairman sent a one word reply from her BlackBerry ...

- - - - - - - - - - - - -

And I think we know what she said.

ND


7 comments:

Anonymous said...

The world has moved into a strange state when personal judgement is derided & system is everything. ISO/TS standards in manufacturing, "compliance" regulations in banking, they all lead to the same thing: a box ticking mentality. What we need is supervision from intelligent people who know their stuff, people who have the wit & strength of character to say "alright, you've ticked all the boxes, but this smells funny to me & I'm not allowing it" or alternatively "you haven't ticked every box, but this is good stuff". But that requires experience and maturity, things out of fashion with the teenage drones in the BBC and elsewhere.

We're all doomed, you know.

Anonymous said...

It would appear Andrew Sachs was a knowing, willing party to the incident and media 'sensationalism'. A commentator suspected a connection between Ross's wife - Goldsmith Sachs and
(not so) offended Mr Sachs.

BBC/media operate in a very convoluted fashion ....

Sebastian Weetabix - honesty, integrity and common sense are the enemies of 'political correctness' PC is that which suits Nulabor's self serving agendas.

JPT said...

Whether the thing was broadcast or not is with regards to Ross' conduct a moot point as the offensive message had already been left.

killemallletgodsortemout said...

This whole episode is about the dumbing down of our society.

Ross is not, and in my view has never, been funny. Opinionated, bullying and crude, certainly.

When "alternative" comedians came on the scene at about the same time time as Ross, they weren't funny, either. Ben Elton, that Baddiel bloke, Lenny Henry - none of them were any good, but they fed their line to the kids, who accepted it is "comedy".

Many of us resented this, and have now registered our displeasure by complaining about the conduct of these two highly-paid, highly-offensive cunts.

I reckon Brand did the decent thing, I also reckon that Ross's contract must make him bullet-proof for the Beeb not to have sacked the vile cunt.

We'll just have to wait and see.

John B said...

"Whether the thing was broadcast or not is with regards to Ross' conduct a moot point as the offensive message had already been left."

But that doesn't matter for the purposes of the analogy, since a) Sachs didn't express any concerns/upset about the *existence* of the message, just about its broadcast; and b) the BBC didn't have any control over whether or not the message was left, just about whether or not it was broadcast.

A related analogy could be:

1) R&B say something that can clearly be interpreted, by anyone who's reasonably intelligent, well-versed in the recent history of comedy [*] and not easily offended, as funny.

2) The producer thinks it's funny, interprets Sachs' response in line with his existing views on the sketch [*], and proceeds on that basis to the director.

3) The director trusts her producer to understand what's going on in the market, and fails to bring in her own early-career experience of massive sh*tstorms where everything falls apart for no discernible reason.

4) The target audience have no problems with the sketch, but an enormous gang of weird Traditional Values Hang Em Flog Em types kick off an enormous pointless media storm, of a sort that the poor producer has never seen.

This equates quite nicely to quants coming up with Amazing Moneymaking Models In Which Nothing Can Possibly Ever Go Wrong, seniors who've only been in the biz for a decade or so believing in the models, and directors who really ought to know better (given their experience of past irrational, unexpected s***storms) believing that their teams' fantastic new products have eliminated risk.

It also rather neatly casts the market turmoil as analogous to a swarm of loonytunes Daily Mail-ites, which is definitely a feature rather than a bug...

[*] e.g. a well-known sitcom in which a man with serious self-control issues is well aware that it'd be horribly inappropriate to mention a particular thing to a particular group of people, but finds that the harder he tries to avoid doing so and to apologies, the more embarrassing a hole he digs for himself. Probably, a producer might think, a man who played a mildly offensive ethnic stereotype character in a show with that plot would get the humour in the Brand/Ross tapes. And no, this digression has no analogy in the world of finance.

Anonymous said...

aaaa片, 免費聊天, 咆哮小老鼠影片分享區, 金瓶梅影片, av女優王國, 78論壇, 女同聊天室, 熟女貼圖, 1069壞朋友論壇gay, 淫蕩少女總部, 日本情色派, 平水相逢, 黑澀會美眉無名, 網路小說免費看, 999東洋成人, 免費視訊聊天, 情色電影分享區, 9k躺伯虎聊天室, 傑克論壇, 日本女星杉本彩寫真, 自拍電影免費下載, a片論壇, 情色短片試看, 素人自拍寫真, 免費成人影音, 彩虹自拍, 小魔女貼影片, 自拍裸體寫真, 禿頭俱樂部, 環球av影音城, 學生色情聊天室, 視訊美女, 辣妹情色圖, 性感卡通美女圖片, 影音, 情色照片 做愛, hilive tv , 忘年之交聊天室, 制服美女, 性感辣妹, ut 女同聊天室, 淫蕩自拍, 處女貼圖貼片區, 聊天ukiss tw, 亞亞成人館, 777成人, 秋瓷炫裸體寫真, 淫蕩天使貼圖, 十八禁成人影音, 禁地論壇, 洪爺淫蕩自拍, 秘書自拍圖片,

做愛的漫畫圖片, 情色電影分享區, 做愛ㄉ影片, 丁字褲美女寫真, 色美眉, 自拍俱樂部首頁, 日本偷自拍圖片, 色情做愛影片, 情色貼圖區, 八國聯軍情色網, 免費線上a片, 淫蕩女孩自拍, 美國a片, 都都成人站, 色情自拍, 本土自拍照片, 熊貓貼圖區, 色情影片, 5278影片網, 脫星寫真圖片, 粉喵聊天室, 金瓶梅18, sex888影片分享區, 1007視訊, 雙贏論壇, 爆爆爽a片免費看, 天堂私服論壇, 情色電影下載, 成人短片, 麗的線上情色小遊戲, 情色動畫免費下載, 日本女優, 小說論壇, 777成人區, showlive影音聊天網, 聊天室尋夢園, 義大利女星寫真集, 韓國a片, 熟女人妻援交, 0204成人, 性感內衣模特兒, 影片, 情色卡通, 85cc免費影城85cc, 本土自拍照片, 成人漫畫區, 18禁, 情人節阿性,

Anonymous said...

情色電影, aio交友愛情館, 言情小說, 愛情小說, 色情A片, 情色論壇, 色情影片, 視訊聊天室, 免費視訊聊天, 免費視訊, 視訊美女, 視訊交友, ut聊天室, 視訊聊天, 免費視訊聊天室, a片下載, av片, A漫, av dvd, av成人網, 聊天室, 成人論壇, 本土自拍, 自拍, A片, 愛情公寓, 情色, 舊情人, 情色貼圖, 情色文學, 情色交友, 色情聊天室, 色情小說, 一葉情貼圖片區, 情色小說, 色情, 色情遊戲, 情色視訊, 情色電影, aio交友愛情館, 色情a片, 一夜情, 辣妹視訊, 視訊聊天室, 免費視訊聊天, 免費視訊, 視訊, 視訊美女, 美女視訊, 視訊交友, 視訊聊天, 免費視訊聊天室, 情人視訊網, 影音視訊聊天室, 視訊交友90739, 成人影片, 成人交友,

免費A片, 本土自拍, AV女優, 美女視訊, 情色交友, 免費AV, 色情網站, 辣妹視訊, 美女交友, 色情影片, 成人影片, 成人網站, A片,H漫, 18成人, 成人圖片, 成人漫畫, 情色網, 日本A片, 免費A片下載, 性愛, 成人交友, 嘟嘟成人網, 成人電影, 成人, 成人貼圖, 成人小說, 成人文章, 成人圖片區, 免費成人影片, 成人遊戲, 微風成人, 愛情公寓, 情色, 情色貼圖, 情色文學, 做愛, 色情聊天室, 色情小說, 一葉情貼圖片區, 情色小說, 色情, 寄情築園小遊戲, 色情遊戲, 情色視訊,