Maybe I shouldn't link to an extract from a book by senior journalists on the finance pages of the guardian, but it gives a horrible background to the financial mess that may take the next 18months to sort out
link
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don't forget this is about selling a book by a Guardian editor....
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tomfrench wrote:
don't forget this is about selling a book by a Guardian editor....
So? It's quite clearly advertised as such.
Have only skim read the article, but it makes a lot of sense, and it is painfully true that a lot of the big banks and moneybrokers are refusing to let governments impose rules, then making a mess and then whining and coming back to the government for a bail out. Pathetic. And the CEO's get to quit with a huge payout!
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extract from article:-
Growth under the Blair and Brown governments has relied excessively on speculation in two forms: that in the City and that by home-owners. Economically, the legacy is a debt-sodden, lopsided and unequal country in which the pay of those at the top rises at 10 times the rate of those at the bottom. Instead of taking on the City, however, the government has turned its attentions to the workforce - both blue-collar and white-collar - which has to be made ready for the global challenge from China and India by being re-skilled and re-educated and by learning how to be "entrepreneurial". Furthermore, the majority is routinely subjected to ever more illiberal, intrusive and obnoxious interference from state agencies, whether in terms of visual surveillance and the proposed identity card scheme, or in terms of being instructed to change their "attitudes" on a range of subjects.
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