Labour's PR machine is by far the most effective part of their organization. Remember the Fool Brown was heading for election time when all of his and Blair's neglect, stupidity, cronyism, stealth taxes and gross public sector overspending came home to roost, to their useless administration and to all of us. Remember how the fool Brown when at the top of the economic cycle, instead of admitting he was running a deficit from gross overspending and would not balance the books, as required, over an economic cycle behaved like King Cute trying to turn back the tide, he moved the dates from what proved to be correct to incorrect ones for the last economic cycle. If the incompetent arrogant fool Brown had listened to his advisers, then we would not have the current budget deficit and would be able to apply the normal Keynesian economic stimulus to ease the effects of the current recession, but we can't as the fool has already
wasted spent the money, along with your childrens and grand children.
His piece of luck and the get out of Jail free card was that he
could use the equivalent of three years worth of tax revenue that the financial services collectively pay in taxes in the UK to rescue Northern Rock (again Government incompetence made situation and losses, including shareholder losses much worse than they should have been), RBS and HBOS in the guise of Lloyds bank (saved having to admit Scottish bias). Then use the Labour PR department, to slag off all banks and banker bonuses. Should RBS and HBOS have been saved, in my view no, in a capitalist society, businesses that are badly run should fail then a receiver will sell off the profitable bits as going concerns, so the creditors get some of their money back. Without this ultimate loss if you run things badly there is no hazard from doing so.
The other socialist machine the
Blair/Brown Broadcasting Corporation BBC will make a big thing on profits and bonuses as it does not fit in with their new Jerusalem socialist ideals, which is an absolute disgrace for what should be an impartial public broadcasting organisation. Along with their nightly socialist propaganda news about the beastly Condems cuts. It is normally along the lines of... poor little Johnny who is misunderstood, and only burgles houses to feed his poor addiction, which he wouldn't have to do if his benefits were higher so it paid for his dope habit, will now disgracefully miss out on his free annual foreign holiday provided through social services, as the beastly Condems have cut the budget. It has also caused the breakup with his relationship with his sometimes girlfriend and their baby as she has told have told him no free holiday no relationship. The council's head of the Social Services said, it just show how these totally unnecessary cuts according to Ed Ball, Ed Milliband and the Unite Union are having on the most vulnerable in our society, blah, blah blah.
Barclays is like any other a privately owned company, as long as it is legal and they comply with current regulations and pay their taxes. It is entirely up to them and their shareholders to decide how much all staff are paid including bonuses. People that complain about this (including many people that run businesses that should know better) are seeking an alternative, which is that the Government decides the pay for all companies, self-employed and employees in the name of fairness. It will then be move over Cuba, and North Korea and all other third world countries as we are joining you. If you don't believe me, visit Eastern Europe to see the devastating effect the state running of industry has had on wealth creation and living standards in these countries.
Unfortunately the regulation of banks and the current regulatory body are totally inadequate. Who scrapped many of the rules and changed regulation from BOE (with good track record) to BOE / FSA which has been a disaster, yep you've guessed it, the fool Brown.
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Topic: Bank(er) bashing (Read 3728 times)