I think the worse is behind us, but we are all unfortunatey going to have a painful three month cleaning up exercise.

The Trumpo blog has always been factual, honest and spirited - and will continue to be so.

We have experienced what can be only described as an unprecedented chain of events, and the catalyst has been the breakdown of the UK’s incompetent regulation of our banking and financial systems.

There is no point crying over spilt milk, the hard work is now ahead, and not only for those of us that earn our living in the financial services industry. The hard work will also apply to all mortgage paying and credit card holding consumers, as the rising cost of borrowing eats into the increasing costs of living.

One thing that will not be permitted for the forseeable future is the return of ”easy cheap credit” I read a frightening statistic earlier this week, 75% of unsecured loans granted had been without the lenders request for proof of income, i.e. the most simple thing had been disturbingly ignored, have the initial applicants got enough income to afford to repay the loan ?

I feel no symapthy for the banks, and I do believe that an adult needs to take responsibility for their own actions, however we are way past the blame laying game.

I would like to take todays Grand National winning horse and its fantastically thought out name as inspiration for this Blog entry, “comply or die” the name has so many relevant connotations to the world today, and particularly pertinent to the financial services world. 

Comply or die - strong but true, we have not been in an environment for many years where risk taking and entrepreneurial spirit have been encouraged, it has been strangled, what we have experienced is an increasing red tape culture in the UK that has battered the financial services industry into a smouldering mess, but their is still a flicker of hope and its thanks to a number of inspirational entrepreneurs who are still happy to be stoking the financial services fire.

Trumpo entered the financial services industry back in 1990, and during our last recession had the privilege to meet and do business with the inspirational owner of todays Grand National winning horse. This Gent made a very positive impact on Trumpo personally and my career and I am so pleased that in these challenging times, dreams can still be realised for good people.

Trumpo sees today’s aptly named winning horse as an inspirational flickering light at the end of a very dark tunnel.  

Even near the bottom, great things can happen.

Your positive Trumpo.

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