Thursday, September 18, 2008

Sucking up to the City

I don't always agree with Ian Hislop, but he was right on the money with his comment on the Government and the City - pointing out that Government had spent the last 10 years sucking up to them, and forgetting that markets are amoral and so require regulation.

Of course, there are limited measures Government can take, but quite how anyone can now regard the free market as the best way to run a modern economy is anyone's guess. Yet we have three main parties none of who are prepared to be as critical as necessary. The forked-tongue words of the other parties don't wash either. The Tories are equally wedded to the free market, and whilst Cable has warned about the danger of easy credit in the past, the LD's themselves are moving in a more market-orientated direction, not less.

Only the State can regulate these markets. Its about time that the Government started being proper social democrats. They interfere where the State should not encroach, yet they will not use the necessary regulation to prevent the charlatans of the City behaving in a completely unacceptable way. Even now these people are walking away with massive bonuses.

It is simply a disgrace from a so-called Labour government

No comments: