Don’t bank on it

A banking crisis. A huge trade and budget deficit. Steadily growing inflation.

It isn’t going too well for the former Chancellor. Prime Minister Brown has a 60% disapproval rating – a positive thumbs down.

When the shit really hits the fan Brown won’t tell us he had nothing to do with it, he’ll send someone out to say it for him.

I’m just as gutless:

Gamblers unanimous
(Wednesday 19 December 2007)

NEVER again can Gordon Brown or Alistair Darling be taken seriously when they claim that particular policies put forward by the labour movement are unaffordable.

Their readiness to gamble up to £60 billion in an effort to protect feckless and irresponsible bankers from the consequences of their own short-sighted avarice shoots down the “unaffordable” excuse stone dead.

These two bankers’ friends have shown that there is no real shortage of cash available. It is simply a matter of deciding on priorities.

And the priority for new Labour is jumping to attention when the bankers call rather than answering the demands put forward by working people for investment in jobs, council housing, railways renationalisation and the manufacturing sector.

Despite the Brown-Darling line that everything is proceeding as planned, they have shown the same blind panic and dithering as the Prime Minister displayed over whether or not to call a snap general election.

Having made the first panic-stricken decision to inject £24 billion, they now resemble gambling addicts who feel the need to throw good money after bad.

They have committed the unbelievable amount of £2,000 from every taxpayer in Britain to Northern Rock and yet they have no guarantee of ever seeing the return of this cash.

Ignoring the effect on the public purse, the PM has underwritten any cash spent by financial institutions to buy a stake in Northern Rock – heads they win, tails they win.

If the Labour leader had had any of the political principles with which he had first set out, he would have taken Northern Rock into public ownership when the bank admitted that it was insolvent.

And, instead of looking for ways to pass on profitable sections of it to other banks at the earliest opportunity, the government would have run a people’s bank to show the difference between offering an essential service and gouging maximum profits out of customers.

2 Responses to “Don’t bank on it”

  1. Hector Says:

    Seems like you guys on the other side of the pond are getting a taste of what Americans have been suffering with for the past 7 years: a run-away government and powerful interest groups.

    The American people are at the mercy of Christian fundamentalist who think that Armageddon is at their doorstep. They want to “purify” the world and make it ready for baby Jesus.

    Jesus Christ! Buddha! Satan! God! Save us all!

    ¡Viva la Revolución!

  2. Hector Says:

    Oh yeah! It may seem as though my first comment is unrelated, but I beg to differ. The same people who control international banking are the same people who try to subjugate the masses by asserting a religion that punishes curiosity and differences.

    Every facet of Western society has been designed to confuse, disenfranchise, discourage, and, thus, control the people who make up the society.

    Enligtened minds will fiercely oppose their enslavement under corrupt government and banking. Therefore, media and the education systems of the West reflec their desire to keep millions of their constituency in the dark.


    As socialists, we must fight through the cloud of ignorance draped around us. Truth is the ultimate tool in the reformation of the human race.

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