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Pen & Inc.: David Cameron

by Robert Teitelman  |  Published July 13, 2012 at 12:02 PM

071612_PenInc.gifBritish Prime Minister David Cameron might want to take up residence in Winston Churchill's underground war room. Crises keep falling like the rain on the Wimbledon Andy Murray so gamely failed to win. Cameron's austerity policies continue to misfire, the euro zone continues to shudder, the News Corp. hacking scandals continue to unfold, followed by a drumroll of embarrassments at iconic U.K. companies: GlaxoSmithKline (fined $3 billion for abusive marketing practices in the U.S.), the government-owned Royal Bank of Scotland (failure to process customer transactions) and the big whopper, Barclays and LIBOR (interest-rate rigging). The latter, of course, toppled CEO Bob Diamond -- fortunately, he was a Yank -- oozed over regulators (the Financial Services Authority and Bank of England, heading toward the Federal Reserve) and seems certain to produce more perpetrators, including poor RBS. And now Cameron has to smile while the Olympic Games and its army of officialdom descend upon the soggiest London in years, with its sequestered areas, stressed infrastructure and rooftop missile emplacements. Smile, Mr. Prime Minister; Murray at least gets a second chance.

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