Wednesday, May 20, 2009
This is why they must go
Mandelson is attempting to redefine the economic crisis not as a regulation issue but as a cautionary lesson in not over-regulating. "The risk at the moment is that the critique of markets goes too far, that we rush into re-regulating markets as a point of principle, as a political attempt to demonstrate control ... ". How can the critique of unregulated financial markets NOT go too far? Regulation is now a neccessity for the long term health of the economy. As yet, no word on the government's other attempts to demonstrate control such as the car-scrappage scheme, ID-cards and blocking of MPs expense details. Now what on earth would a politican have to gain from siding with the banks? Fishing for a lucrative bank advisory position after the next General Election by any chance?