WELL, as I am now a proud shareholder in our High Street banks, I shall be writing to my bank later this morning and demanding that my overdraft limit be extended. I shall also be suggesting that because of my help in trying to bail them out of their current difficulties, it would be a nice gesture in return to cut the interest rate I have to pay on that overdraft.
So the Government is providing £50 billion now, and another £250 billion over the next few years just to prop up private banks. It's a scandal. The Government has refused to help British industry on numerous occasions when it needed a tiny fraction of this amount of funding, and it has even allowed people to die because they said they couldn't afford the drugs they needed to survive. Yet it can provide an unlimited supply of OUR money to keep private banks afloat.
Brown should have let them go to the wall and only offered security on pension funds and personal savings. As I said earlier, it should then set up the Bank of Great Britain, a bank run by the Government in the interests of the British people and British industry only. But it has taken the worst option of all - pay with no say - just underwriting the past mistakes of private banks and letting them carry on regardless.
The Daily Star this morning has Jon Cruddas warning that the financial crisis will channel voters towards the British National Party and he is right. When under threat, people close ranks and look to their own for support. When you face a bleak future you don't want the influence of outsiders making it worse. Migrant workers have been unpopular even during the time of plenty of work and easy credit. When jobs are in short supply and there are no more 0% balance transfer deals for escapism shopping and holidays, the British people are going to looking at them in an even more unfavourable light.
A special George Orwell 1984 Newspeak award should be presented to Radio 4's Today programme this morning for it's five minute report on tackling extremism in schools. In the whole report they only mentioned 'Islamic' once and didn't even mention 'Muslim' at all. So according to the BBC report, every child in the country is a potential terrorist and there is no particular community that we should be especially concerned about.
Wednesday, 8 October 2008
Posted by Martin Wingfield at 07:53