Sunday, 28 September 2008

Tory Hypocrisy

George Osborne the shadow Tory chanchellor of the exchequer calls for greater regulation of the financial services sector prevent the crisis that has occurred recently in the financial markets ...now this in itself is unusual a Tory calling for greater government intervention...whatever next?

It's a shame that David Cameron hadn't spoken to Osborne first before inviting wealthy donors to join his exclusive dining club and accepting over a million pounds into Conservative Party coffers from Hedge Fund Managers...yes those exact same people Osborne wants to regulate. These same Hedge Fund Managers are the ones that 'bet' on the price of HBOS and Bradford and Bingley falling and then raking in the millions when the banks fail. Talk about acting in our best economic interests!!

6 comments:

Caballero36 said...

There is no diffrence between Brown, Cameron and Bush they are all neoliberal freemarketers which has failed disastrously. They all now want to start regulating a financial market that they or their predecessors deregulated in the 1980's by nationalising B&B, Northern Rock, AIG, Fannie Mae and Freddie Mac. God only knows what Lehman Brothers and Washington

Caballero36 said...

....to continue - what did Lehman Brothers and Washington Mutual do to deserve to be cut adrift by Bush and co? Did he cut them off because they were contributors to Democratic campaigns.

All in all the current UK and US administrations have lurched to the left in response to the financial crisis. Will they remain to the left or will we be faced by another crisis caused by an unregulated financial market in another generation?

Plaid Whitegate said...

Thatcher's legacy is now coming home to roost - her first moves were to deregulate the financial sector and allow companies to avoid taxes via tax havens around the world.
But what's happened to all the profits these banks have creamed off in the good times? The same people who are begging for a state handout now are the ones who bought their yachts and holiday homes when the going was good.
If Brown intends to bail out the rich, perhaps he should means test them.

advance avakian! said...

Workers are on the march again.
And about time too!
No one could have predicted this.
Knowing what we know now.
Even Bush recognises its over!
Rejoice in capitalism's demise
Salute workers everywhere!

18 kart said...

rejoice in capitalism's demise
it's replacement will be even worse!

Plaid Whitegate said...

Bit premature to be "rejoicing in capitalism's demise" - it's an infinitely flexible system that is backed to the hilt by the power of the state when needs be.
The problem is that - while the Daily telegraph and others are all quoting Marx approvingly - there is no credible coherent alternative at the moment.