July 2012
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Day July 3, 2012

Let’s have an inquiry re Labour’s “light touch” let off for the City

The Tories want a quick, easily forgotten inquiry into LIBOR-fixing by twenty banks.

Labour want a long public inquiry about ” the culture of banking”

Why have an inquiry? Do a street poll and the majority of people will tell you that the ‘casino bankers” are vultures, preying on them.

Instead, Ed Balls and co could explain their 13 years of light-touch regulation and how they kow-towed to the City of London, and even gloated about it as how ‘successful economies’ should be run.

Either, take a radical approach and restructure the economy.

Or, have your own internal debate about why Labour = PASOK and Spain’s PSOE and why reform needs to start within the Labour Party now before they become irrelevant later on this decade.

Naturally, this is exactly the opposite of what will happen. The ‘strategists’ will bask in the glory of high opinion poll numbers and tinker with messages, sounding a little bit radical (with absolutely no intention to follow through when they are back in power).

Politics in this island needs a shakeup, to allow genuine debate. And choice.

I will be hopeful when the intellectual self-styled ‘progressives’ start their ‘mea culpas’ and ditch the Miliband/Balls charade, demanding that Labour rip up their out-of-date nineties mantra and look around them… the world has changed.

PASOK & PSOE have belatedly realised they are ‘yesterday’s men’. Labour are doing their best to join them.