Friday, 6 March 2009

Slump Of MP's Own Making?

Whilst true, of course, that some overpaid bankers took excessive risks (100%plus mortgages and oh, how many times salary do you want?) coupled with similar risks which should never have been allowed; it now seems that politicians and their friends in the media are busy trying to pin the blame for the economic crisis solely on 'greedy bankers'.

Politicians of all parties, but especially those of the opposition, are supposed to hold the government to account and 'oversee' the governments actions; something which seems noticeable by its absence, in particular as the regulations to stop idiotic behaviour by banks etc exist.

What is interesting, as Douglas Carswell points out, is that politicians appear to have spent more time arguing over their expenses and addresses than they have discussing 'quantative easing', aka printing more money.

As for the last point - just a non-financial thought..........

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