Monday, 16 April 2012

Labour Must Distance Themselves from Neo-Liberal Policies

Another of the great myths was that bankers and financiers were awarded fantastically high salaries and massive amounts in bonuses because they were risk takers.

Well of course that myth was well and truly dispelled when in 2008 we watched as bank after bank came cap-in-hand to governments around the world begging to be bailed-out.

This socialisation of debt while keeping profit private should have brought a greater balance to the obscene rewards those at the top of the finance sector were giving themselves. Sadly, and I blame the Left politically for missing their opportunity to deliver the coup de grace against neo-liberal capitalism, we allowed these vultures to carry on almost as if nothing wrong. Now we're beset by their friends in Parliament; and of course they're picking away at the rest of the corpse created by their friends in high finance.

It would be, at least, a partial victory if Labour could realise that the only way out of this economic quagmire created by casino bankers and tax cheats is to move away from the failed policies of the neo-libs.

Hopefully, this realisation will come sooner rather than later to allow Labour to set out a stall which doesn't sell the same worn-out ideas of the Tories in slightly more acceptable packaging.  

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