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Posts Tagged ‘banking crisis’

That US Bank Rescue Plan In Full: Plan B

PLAN A failed. But US politicos will try again to agree on which of the Republican or Democrats are to blame more for the crisis, and which party is more reliant on rich supporters. Anorak has received news of Plan B:

Banker Aide: Britain Invests In Keeping China Sweet

Red Tuesday: Banks Fall, The Experts’ Top Tips And Spending Is The New Saving

Posted: 2nd, October 2008 | In: Money, Photojournalism | Comment (1)


Labour’s Michael Meacher Will Not Speculate On His Speculations

THE overarching reaction to the banking crisis is that so few of our elected representatives have a clue about the money markets.

It’s not just Sarah Palin who is utterly ruderless, but also ambitious Michael Meacher, our Labour MP for Oldham West & Royton. This is what he writes in the Times:

For Labour to have a fighting chance at the next election, radical demands surfaced at Manchester for significant policy change. Not just a crackdown on short-selling, but action against speculators in general.

We must cut down on speculators. Go it? Now read on:

Read the rest of this entry »

Posted: 29th, September 2008 | In: Money, Politicians | Comments (18)


David Cameron’s Flawed Debt Story

DAVID Cameron has been quiet on the banking crisis. Want to know why? It’s because he and his party have nothing meaningful to add:

Cameron is then directly quoted, saying: “I think that we have had a failure of regulation and we have had a debt boom that went on for far too long and it reached into parts of the economy it shouldn’t have done. The whole thing has become infected and it has got to be dealt with.”

A propos our previous post, Cameron is playing with fire taking this line. For sure, it is generally agreed that that has indeed been a “failure of regulation”, but by far the bulk of regulation, and the regulatory structures, are of EU origin. They are not within the gift of Cameron to change, without taking on the European Union, which the leader of the opposition shows no sign of doing. But to pretend that they are “Gordon Brown’s” is a very silly strategy indeed.

Isn’t it all the failure of capitalism?

Posted: 28th, September 2008 | In: Money, Politicians | Comments (8)