If only banks were run like football clubs? (Surely some mistake?!)

Posted by Mark on 30th Nov 2011
At long last the powers that be have taken decisive action to head of a certain catastrophe.

No I don't mean the co-ordinated actions of the central banks to provide unlimited dollar liquidity silly, no, Sunderland have sacked Steve Bruce.

Some media pundits (largely former team mates) will say he deserved more time and that the team he assembled in the summer needed time to gel, but any poor season ticket holder who has seen only two home wins in the calendar year, will tell you enough is enough.  Its not as if the the new chairman has been trigger happy (despite being from Texas), in the last two season Sunderland have had two major slumps in form that would have had Abramovich calling for the Spanish archer.

The publicity shy American that owns SAFC is called Ellis Short and he made his fortune as a partner at our friends Lone Star, the major property equity fund managers.

His pragmatic, but ultimately ruthless decision making was no doubt honed turning around defaulting loan portfolios of the kind that desperately need sorting out now.

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