Monday 2 July 2012

Banking

The recent 'discovery' that banks have been rigging the market they operate in has caused a storm and the politicians are outraged. After not finding anything terribly wrong in anything they have ever done themselves, politicians are seized with righteous fury over the actions of banks.

There is talk of 'something going wrong with the culture' and this is more the point than many realise I suspect. The culture of course, is based on what they think they can get away with, what the regulators will turn a blind eye to. Regulators working for the politicians. No need to wonder why the likes of Lehman's got Gordon Brown to open a new building of theirs.

The cosy nature of the relationship between big business and government has gone on too long and the greed involved is starting to spill into the light. Energy prices, the renewables subsidies, the green scam. supermarket success is all due to the love-in between the corporates and the politicians. And you pay.

Is there even the merest hint that a government might get this straightened out? What, when Cameron can't even do the right thing over the EU? Cameron would be talking of the benefits we receive from being part of a mugging-inclusive society, whilst watching a friend robbed.

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