It is my opinion that Mervyn King is the best Governor in my lifetime. His grasp of what is wrong with the banks\u00a0far exceeds the grasp of most politicians. He is entirely in tune with the experience of the country, which has\u00a0suffered a blow to its economy which equates to the cost of a major war. He is in tune, too, with people who run the SME businesses which are the backbone of the economy. He is possessed of a powerful intellect and has already achieved a glittering career as an academic economist.\u00a0Above all he understands what is wrong with the banks. In a word it is the bankers.<\/p>\n
Their attitude, their business model, their financial\u00a0morality, their social responsibility and their mission, all fall far short of those of\u00a0their pre-big bang forebears. Many do not know what they are doing. Those\u00a0who do, frequently have no idea, or do not care, about its effect. All are clever, but at the same time fools. A good number are spivs.\u00a0Their industry has very nearly broken the western economic structure overall. In a some cases, Ireland for example, it has\u00a0ruined the\u00a0 financial solvency of nations. Through all this period, the West has advanced little. Such advances as have come, have been driven by new technology, in which the banks have invested\u00a0hardly at all. The balance of economic power is now shifted to the East, to whom we have to look to pay a quarter of our\u00a0the monthly bills.<\/p>\n
Through this\u00a0 frittering of the endeavours of an industrious and trusting population, terrible\u00a0 scars have opened in the social landscape which would have shocked even Victorian reformers and utterly dismayed the Macmillans and Wilsons of the post war social settlement. Nowhere has there been a modern\u00a0politician willing to stand up the these hedonistic zealots, least of all among the ranks of New Labour. One or two lurk in the Coalition, but dithering over the banks and bankers by Osborne and Cameron has held them back. Mervyn King has now spoken.<\/p>\n
This should give the reformers\u00a0courage. If, when the IBC reports,\u00a0Osborne does not implement its recommendations in timely fashion in the face of what will be near hysterical opposition from the bankers, the Tory party will be\u00a0 deserted entirely\u00a0by its\u00a0loyalist\u00a0core of middle England SMEs. Without them it will lose any election, whatever the voting system.<\/p>\n","protected":false},"excerpt":{"rendered":"
It is my opinion that Mervyn King is the best Governor in my lifetime. His grasp of what is wrong with the banks\u00a0far exceeds the grasp of most politicians. He is entirely in tune with the experience of the country, which has\u00a0suffered a blow to its economy which equates to the cost of a major […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3219","post","type-post","status-publish","format-standard","hentry","category-malcolm-blair-robinson"],"_links":{"self":[{"href":"https:\/\/www.malcolmblair-robinson.co.uk\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/3219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.malcolmblair-robinson.co.uk\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.malcolmblair-robinson.co.uk\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.malcolmblair-robinson.co.uk\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.malcolmblair-robinson.co.uk\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3219"}],"version-history":[{"count":4,"href":"https:\/\/www.malcolmblair-robinson.co.uk\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/3219\/revisions"}],"predecessor-version":[{"id":3223,"href":"https:\/\/www.malcolmblair-robinson.co.uk\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/3219\/revisions\/3223"}],"wp:attachment":[{"href":"https:\/\/www.malcolmblair-robinson.co.uk\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.malcolmblair-robinson.co.uk\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.malcolmblair-robinson.co.uk\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}