But I was pessimistic that anything would actually happen :
Creating larger institutions could encourage more risk because they were "too big to fail", he added. It would be a "bitter irony" if the sector became "even riskier", he said.
"doubtless the reason nothing will be done (and I'd be so pleased to be proved wrong) is that the banks will 'need to be large enough to compete internationally' or similar. In which case we'll be back where we were, only more so .."
Now Osborne's not changed his tune, but here's that expert severance negotiator Lord Myners :
British banks must be allowed to remain large enough to compete on the international stage, Treasury minister Lord Myners said today drawing a line between the Labour government and more draconian plans from the shadow chancellor, George Osborne, for a sharp reduction in the size of banks to cut risks to the taxpayer if they fail. Myners said a review of the financial services sector by a group of City grandees argued that more effective regulation of the banking sector was the key to reducing risk and maintaining London's position as a major financial centre. Myners also argued innovation would be encouraged, despite concerns that a legacy of complex financial instruments were in large part to blame for helping create the credit crisis.
Hmmm. "A review of the financial services sector by a group of City grandees." I imagine the same sort of review is going on in the States. The finance industry has effectively captured our government.
A blog devoted to the green-ness or otherwise of "green" light bulbs - Greener Lights ?
A blog devoted to history, in particular the post-WW2 British occupation of Germany - How It Really Was.
Separate lives - Sathnam Sanghera on living in Brixton.
The Sri Lankan civil war is fast approaching a bloody conclusion as far as conventional war is concerned, although I imagine we may well see an IRA-style campaign continuing. The response of the Sri Lankan government is likely to be a good deal more 'robust' than that of Britain to Sinn Fein/PIRA. That's not necessarily a commendation. Look at what happens to journalists there, let alone terrorist front parties.
I don't know enough about Sri Lanka to take a view on who the good guys are, or if it's six of one and half a dozen of the other. But it's remarkable how little outrage the decision to keep journalists away from the fighting has caused.
Let's hope we don't see any unfortunate incidents like this in the UK. I'm sure feelings are running high.
13 comments:
The Tamils in Sri Lanka, could be viewed as a failure of 'multiculturism', as the Tamils migrated there from SE India
"Let's hope we don't see any unfortunate incidents like this in the UK. I'm sure feelings are running high."
Unfortunately that's a racing certainty. There are quite enough Sri Lankas of both persuasions in London to carry on the civil war by proxy here, if they are so inclined.
The main difference between the UK and Australia, of course, is that here it will be all our fault. That Sinhalese and Tamils have shared Ceylon for at least a couple of thousand years and have maintained a cordial mutual dislike throughout, before, during and after the Raj will make no difference, it will still be the fault, as with everything else in the world, of the British Empire.
remarkable how little outrage the decision to keep journalists away from the fighting has caused
Thats only important when its white people winning a war.
The obvious solution would be partition the island Cyprus style. Since thats the obvious humane solution we can be sure it wont be persued.
Regarding banks - because our government (both Tory and Labour) have allowed manufacturing to be run down so much over the last 30 years they have a huge amount invested in the service industry - and the financial sector of that industry in particular which now accounts (or did prior to the credit crunch) for roughly 20% (if I remember correctly) of our export total. That is a huge proportion from what is a rather small sector of overall industry and explains why it is so vital for our government to support the banks. Our trade deficit is too large as it is - lose the banks and it grows significantly.
From that history blog, Brits marrying Germans @ 1946/47.
I was told three thousand other couples married in that year … based upon what I’d negotiated with the Germans.Thats 3,000 Germans coming mostly to the UK. Its interesting to note how much attention the BBC pays to this on it's site - not much at all really. Compared to say the arrival of the Empire Windrush (500 people) with it's West Indian settlers. In BBC terms One Of The Greatest Events In History.
Also instructive to compare the 1948 Polish Resettlement Act (210,000 people), same year as Windrush, one may notice a slight disparity in coverage.
"That is a huge proportion from what is a rather small sector of overall industry and explains why it is so vital for our government to support the banks. Our trade deficit is too large as it is - lose the banks and it grows significantly"
Our trade deficit is so huge because the banksters have very largely crowded out real economic activity with their vile short-termist greed. I did see a prediction that the "vibrant" finance sector will be falling from 20% - 6% of GDP anyway; the spiv game has been found out.
It is not exactly news that they have taken over the economy; indeed they started to during the later 19th century - ruined aristos allied with City bankers to form new class of rentier parasites - see David Cannadine' "Decline and Fall of the British Aristocracy" for details
Only one party of honest patriots know how to take a firm hand with these people
That same party which has only today been libelled by the lickspittle, running dog, lackey Soaraway Scum
See top 3 items
http://bnp.org.uk/
It will be interesting when one or more immigrant groups in the UK demand an enclave or breakaway province.
They could take kent for exanmple . I expect this would be ok with the locals they seem rather supine.
Laban,
I knew some people who lived in Villa road, Brixton. (Villa road features in the Series 'Lefties' which was shown BBC 4 recently.) Nearly everyone in the squats was a middle-class Lefty and they had little or no contact with the 'locals' which to them meant blacks.
I lost count of the number of muggings, and worse, they told me about.
Hoxton/Shoreditch is the same.
On the whole they were likable and the women were 'generous' to a fault.
"I lost count of the number of muggings, and worse, they told me about"
Leftists have not received one iota of what they deserve; yet
Meanwhile it turns out that the Safety Valve Spiv Stooge Farage is a champion porker; of course only an imbecile would ever have thought otherwise
http://bnp.org.uk/2009/05/nigel-farage-sounds-ukip-death-knell-as-he-admits-to-taking-2-million-in-expenses/
remarkable how little outrage the decision to keep journalists away from the fighting has caused Fairly unremarkable, actually. If the journos can't get there, there's no story. No story, no outrage. And so we'll still be praying for the people of Gaza of a Sunday morning long after Sri Lanka has been forgotten.
The Germany-after-WWII one sounds interesting but it's in a font size I can't read. I must say that the "dead tree" press never makes that mistake.
I dealt with hundreds of "asylum seekers" in the past decade who had managed to get to Britain from Sri Lanka. Usually via Moscow and then through Europe, but hey why let an inconvenience like the Dublin agreement stand in the way of a new life in Britain? Anyway the one thing I do recall about interviewing these people is that every one of them to my recollection claimed to be fleeing persecution from the LTTE (Tamil Tigers) yet now we have protests by these self same people about the treatment of the LTTE am I missing something here?
abiton says
"Let's hope we don't see any unfortunate incidents like this in the UK. I'm sure feelings are running high."
Unfortunately that's a racing certainty. There are quite enough Sri Lankas of both persuasions in London to carry on the civil war by proxy here, if they are so inclined.
The main difference between the UK and Australia, of course, is that here it will be all our fault. That Sinhalese and Tamils have shared Ceylon for at least a couple of thousand years and have maintained a cordial mutual dislike throughout, before, during and after the Raj will make no difference, it will still be the fault, as with everything else in the world, of the British Empire.
office jobs
Post a Comment