Monday, 26 October 2009

Brown's Christmas Present

Isn't Brown that gift that keeps giving. After it was announced that economy shrank by 0.4%, which officially means that this is the longest recession since records began. Brown vowed to restore growth and reform the financial sector by Christmas. Isn't that like getting back the foot spa you gave someone else for Christmas last year.

I can't help but think though - why when writing out that big fat taxpayer funded cheque didn't he issue some terms? Banks sole purpose is to make money, they are by their nature greedy, a little native to be surprised when they get excessive. Which leads to asking why given the taxpayer is the main share holders in these companies giving out billions in bonuses, doesn't our representatives say something? I don't see the problem with a company that is part nationalised that the main share holder has a say over pay, particularly since that share holder was the one that propped their failing company up.

There is also at long last to be announced some consumer protection measures, which for a Tory Labour government is about time. This is really the way to reform the financial sector, empower the consumer. If the banks are foxes in charge of the hen house, arm those hens with tasers.

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