The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending. (Reuters somewhere)
This circularity is clearly barking. It;s long been touted that financial regulators be given huge salaries to prevent banksters simply buying them off with highly paid jobs. Someone tried to buy me off years ago. I took it as an insult. Cops sign on to do the job without fear or favour. I last heard that regulators had to be paid vast fortunes on Newsnightshite from the Baring’s fraudster Leesome.
It;s time for some honest people. Are there any left?
Much as none of us wants a police state, I still feel more comfortable with ‘your average British copper’ than the kind of tomfoolery we witness over and over with our politicians and the kinds of people running banks, hedge funds and ACPO-style bureaucracies (whether police, Town Hall or private companies – academe is now a horrible example).
The nonsense about the global economy and market rates for a few plutocrats is nonsense. They rig the market. They are as essential to the daily ‘war effort’ of living as Rooney, or a superintendent polishing his career portfolio. We should be thinking of this economic rot like a cop unable to take a bribe.