As the FT reports:

Some of Britain’s biggest banks have begun quietly ridding themselves of billions of pounds of assets they have found difficult to sell following the financial crisis, moving them off their balance sheets and into staff pension funds. The moves – designed with the dual purpose of clearing unwanted assets from the banks’ own books while at the same time closing pension fund deficits – have been made as exceptional top-up payments into the pension schemes over recent months.

I often wonder how low the senior management of banks can stoop and they always exceed expectations.

This move shows the straightforward contempt of the directors and senior management of these banks for everyone else in the banks and in the world at large.

Are you really surprised that I want these banks nationalised when they fall over again, probably quite soon? And that the nationalisation should require a clear out of the people who do this sort of thing, for good?

If modern banking depends on ethics like these we can easily do without it. We need banking, for sure. But not like this.