Monday, 22 September 2008

Those Whom The Gods Would Destroy ...

Always a difficult decision, how to pitch the Party Conference speech, but evidently Brown has decided to go for belly-laughs:

"Brown plans crackdown on world markets - PM wants more regulation in US and Asia"

Thus thunders
the Grauniad front page obligingly today, but no-one, including its own leader-writer ("the truth is that Labour indulged the City of London ...") believes a word.
Like the detonations of huge landmines in WW1 that sounded across the Channel, eruptions of laughter can be heard from over the sea: for the past decade lax British banking regulation has been systematically undercutting the stricter US and European regimes, in order - successfully - to lure business away from Chicago, New York and Frankfurt. All under the presiding genius of 'Golden' Brown.

And eruptions of frank disbelief from Robert Peston - yes, oh-so-helpful Robert Peston, he of the extraordinary running commentary on the HBOS takeover last week. A bit foolish to piss this man off, one might think: no-one commands more air-time right now, or evinces more commentator-cred.

But, as we are perennially forced to ask, where in all this is the Boy Osborne ? Sniping a little from the sidelines perhaps, but hardly a magisterial presence in the public debate. Perhaps his judgement is that silence is the right option when so many others are clamouring to point out the emperor's unappealing nakedness. It is fortunate for the Tories that their poll lead was well-cemented before all this kicked off in earnest. Nothing they are doing right now is building confidence in their alternative offering.

In the meantime we must watch our Cnut of a PM as he instructs farway bankers to mend their ways. He has pitched his throne close to the water's edge: but this is not the tide, it is a tsunami, and he will surely be swept away.



Mark Wadsworth said...

Might the Cameroon silence be because they don't have a f***ing clue either?

Or because the only sensible suggestion, to wait until the bottom of the housing market and introduce Land Value Tax to prevent future bubbles (while allowing low interest rates) is politically unacceptable to Tory NIMBYs, home-owners and land-owners?

Old BE said...

I know you aren't a fan of Osborne (perhaps he is too much of the Letwin mould for you?) but he was really good last week on Newsnight. He offered a forward-looking policy and was light on the "I told you so" attacks which made him appear quite statesmanlike.

Hairy Arsed Bloke said...

Does anyone believe that el Gordo the Snot Goblin King’s pledge to ‘Clean up the City’ is anymore than a sop to his own party faithful? If he actually tried to do anything the City would have him out of office before the close of business. Maybe the real rocking horse photos are going to see the light of day.

Nick Drew said...

Mark , it hurts to say so but I do indeed wonder

BE - I saw him too (the one where Paxo was screaming at him for not taking personal responsibility for the whole of the capitalist system !) and I agree he kept his cool commendably in the face of this preposterous attack. He also defended short selling in the appropriate way (by saying that it's only wrong when used for market-abusive purposes); and sensibly acknowledged that some things needed changing.

And it must be said his resolute calm eventually deflated Paxo a bit, which is OK as far as it goes & leaves a fair impression.

But at the same time I didn't hear anything I would call a forward-looking policy of any substance - what did you have in mind ?

Nick Drew said...

a sop to his own party faithful - HAB - you are clearly right, and his endless trimming on details to pander to whichever audience is currently in front of him is pretty comical

Bill Quango MP said...

Watching the Labour confrence all day today. {My eyes, my eyes , my beautiful eyes!}
Many many supporters furiously demanding tax on bonuses.

Chancellor up now...
New bill in two weeks time apparently

Mark Wadsworth said...

BE, I find Ozzy thoroughly likeable in a fresh-faced schoolboy sort of way (and EU-philia aside, I like a lot of what Letwin says), but Ozzy and Cam genuinely don't have a clue about economics.

I'm afraid I didn't see him on Newsnight so I can't comment. Perhaps you can elucidate as to what his 'forward looking policy' is?

That said, to be honest, sod it. I'm old and rich and boring and from a personal point of view, yet another house price bubble under the Tories will be a real money spinner for me. I am calmly resigned to my fate of becoming ever wealthier at the expense of the little guys and the wider economy.

Old BE said...

He said that he wanted to introduce variable reserve requirements so that in an upswing the banks would have to keep more in reserve. Fairly radical I would say.

Anonymous said...

Well said Mark.Not rich but two sayings spring to mind, Debt free is Glee and Cash is King.

I will get through this as well if i live long enough!!

Anonymous said...

"Many many supporters furiously demanding tax on bonuses." Which reminds us that ordinary workers, who also get bonuses, play no part in New Labour. I suppose these "supporters" are all outreach organisers and suchlike dross?

Nick Drew said...

BE - it is, but then again Vince Cable got to this one first ! it has been LibDem policy since March

which is sort of my point: Cable makes the weather in these debates, Osborne (aside from his brief moment of IHT glory) just doesn't

(BTW, I'm not at all sure counter-cyclical capital adequacy is a good idea anyway ...)

Old BE said...

Right, better vote LD at the next election then!

Clegg for PM!

Anonymous said...

aaaa片, 免費聊天, 咆哮小老鼠影片分享區, 金瓶梅影片, av女優王國, 78論壇, 女同聊天室, 熟女貼圖, 1069壞朋友論壇gay, 淫蕩少女總部, 日本情色派, 平水相逢, 黑澀會美眉無名, 網路小說免費看, 999東洋成人, 免費視訊聊天, 情色電影分享區, 9k躺伯虎聊天室, 傑克論壇, 日本女星杉本彩寫真, 自拍電影免費下載, a片論壇, 情色短片試看, 素人自拍寫真, 免費成人影音, 彩虹自拍, 小魔女貼影片, 自拍裸體寫真, 禿頭俱樂部, 環球av影音城, 學生色情聊天室, 視訊美女, 辣妹情色圖, 性感卡通美女圖片, 影音, 情色照片 做愛, hilive tv , 忘年之交聊天室, 制服美女, 性感辣妹, ut 女同聊天室, 淫蕩自拍, 處女貼圖貼片區, 聊天ukiss tw, 亞亞成人館, 777成人, 秋瓷炫裸體寫真, 淫蕩天使貼圖, 十八禁成人影音, 禁地論壇, 洪爺淫蕩自拍, 秘書自拍圖片,

做愛的漫畫圖片, 情色電影分享區, 做愛ㄉ影片, 丁字褲美女寫真, 色美眉, 自拍俱樂部首頁, 日本偷自拍圖片, 色情做愛影片, 情色貼圖區, 八國聯軍情色網, 免費線上a片, 淫蕩女孩自拍, 美國a片, 都都成人站, 色情自拍, 本土自拍照片, 熊貓貼圖區, 色情影片, 5278影片網, 脫星寫真圖片, 粉喵聊天室, 金瓶梅18, sex888影片分享區, 1007視訊, 雙贏論壇, 爆爆爽a片免費看, 天堂私服論壇, 情色電影下載, 成人短片, 麗的線上情色小遊戲, 情色動畫免費下載, 日本女優, 小說論壇, 777成人區, showlive影音聊天網, 聊天室尋夢園, 義大利女星寫真集, 韓國a片, 熟女人妻援交, 0204成人, 性感內衣模特兒, 影片, 情色卡通, 85cc免費影城85cc, 本土自拍照片, 成人漫畫區, 18禁, 情人節阿性,

Anonymous said...

情色電影, aio交友愛情館, 言情小說, 愛情小說, 色情A片, 情色論壇, 色情影片, 視訊聊天室, 免費視訊聊天, 免費視訊, 視訊美女, 視訊交友, ut聊天室, 視訊聊天, 免費視訊聊天室, a片下載, av片, A漫, av dvd, av成人網, 聊天室, 成人論壇, 本土自拍, 自拍, A片, 愛情公寓, 情色, 舊情人, 情色貼圖, 情色文學, 情色交友, 色情聊天室, 色情小說, 一葉情貼圖片區, 情色小說, 色情, 色情遊戲, 情色視訊, 情色電影, aio交友愛情館, 色情a片, 一夜情, 辣妹視訊, 視訊聊天室, 免費視訊聊天, 免費視訊, 視訊, 視訊美女, 美女視訊, 視訊交友, 視訊聊天, 免費視訊聊天室, 情人視訊網, 影音視訊聊天室, 視訊交友90739, 成人影片, 成人交友,

免費A片, 本土自拍, AV女優, 美女視訊, 情色交友, 免費AV, 色情網站, 辣妹視訊, 美女交友, 色情影片, 成人影片, 成人網站, A片,H漫, 18成人, 成人圖片, 成人漫畫, 情色網, 日本A片, 免費A片下載, 性愛, 成人交友, 嘟嘟成人網, 成人電影, 成人, 成人貼圖, 成人小說, 成人文章, 成人圖片區, 免費成人影片, 成人遊戲, 微風成人, 愛情公寓, 情色, 情色貼圖, 情色文學, 做愛, 色情聊天室, 色情小說, 一葉情貼圖片區, 情色小說, 色情, 寄情築園小遊戲, 色情遊戲, 情色視訊,