Tuesday, January 11, 2011

The UK government caves into the banks

No real news from Ego's Zhengzhou bubble and the real news from the 'Guardian' is that the banks have been given the go ahead to pay unlimited bonuses and this despite the logical conclusion that they owe the taxpayer billions. Of course, the taxpayers will never see their money in any shape or form and, indeed, with the social welfare state being dismantled, it is they who will continue to foot the bill.

In caving into the city the, British government might argue that to have acted otherwise the bankers would have gone elsewhere. However, Ha-Joon Chang is quite right to contend that their had they done so, it would not necessarily have been a bad thing. Of course, we might go a step further and suggest that it would in fact be a good thing, a very good thing indeed.. After all, apart from anything else, who needs the moral influence of a bunch of compulsive "gamblers" who only gamble other people's money and who rob the public at every turn to finance their disgusting immoral habit.

1 comment:

Anonymous said...

Very well said!
Jordan Jordanovich