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Wednesday, 08 October 2008

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Tom MacFarlane

Brown can do nothing about executive pay, this is a sop to the gallery.

Of much greater interest now is the future of that busted flash, a.k.a. the European Union. Joke!

Barroso is apparently is worried that banks might be nationalised. What an excellent idea. Your resignation would make it two good ideas in the same week, which must be some kind of record.

Jim Coffey

I recall being told in the Eighties that the nation harboured an "enemy within" that sought to undermine our democratic values, undermine the capitalist system and hold governments to ransom.

D.L. Stephens

Part of the deal would not be an undertaking to make life difficult for bank customers in ways that encourage us to abandon our stupidity and to realise the "benefits" of identity cards, would it? Watch what happens in the next couple of years.

dr david hill

The government's rescue of the banks may stabilise the global financial crisis temporarily, but where the far bigger problem of economic stagnation and decline lies firmly upon the horizon now. The reason, with the US's total debt when all is taken into account at the end of 2007 was $51.1 trillion (projected to increase to around $53 trillion by the end of this year), sheer interest payments estimated at over $2 trillion a year, estimated toxic debts of financial institutions of over $4.1 trillion and total global debt exceeding $100 trillion (approx. 2-years of total global GDP output), no amount of capital injection will save the global economic system from eventual collapse as it is being pursued today. I give it no more than 18 months to fail.

The only situation that could bring global stability to the economic system is the influence of China and its direct intervention. Unfortunately pride by Western politicians will not allow this to happen, but where eventually they may have no other option but to take this decision to save the world economy from decades of economic stagnation. That is what we risk now with uncoordinated political indecisiveness in the West. These are plain truths and no more.

Dr David Hill
World Innovation Foundation Charity (WIFC)
Bern, Switzerland

That's Bremmy

hey check out our hilarious videos on youtube. Search for "that's bremmy" and watch the videos to help cool down the heat of the election race. :)

Nidri

THE FAILURE OF CAPITALISM
Money is the lifeblood of capitalism and banks are the heart through which money circulates. Failure of the banking system on the current scale reflects a massive and systemic failure of capitalism and demands an international system of regulation of the financial sector.
Capitalism is a Darwinian drive for survival of the fittest as defined in western culture as the ability to create personal wealth. Some call it greed but it is really no more than an atavistic drive for security. We would all be greedy given half the chance.
Laissez faire economics as practiced by the west for over two decades has provided an environment in which greed was allowed to manifest itself through the formation of a tiny superclass which came to control our economies. This class operates internationally thereby making control by individual states impossible. This globalisation also enables the superclass to secretes their gains in tax havens. The superclass is so powerful that it influences politicians and regulators to perpetuate policies favourable to themselves and indeed expand them.
The final irony is when the system collapses the superclass is not called on to contribute to its repair, it is the rest of us in the midst of the turmoil they have created that have to pay the price. Most of the lawmakers and regulators whose blindness and ineptitude permitted this catastrophe remain in post as do most of the superclass ready to perpetuate the next scam.
It is time for an international system of regulation and taxation to bring down this morbid and amoral elite if another meltdown is to be avoided.

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