Sunday, August 26, 2007

Curb the greedy global financiers

"Globalisation, it is now clear, is run in the interests of a global financial class which has Western governments in its thrall. This class does not give a fig for the interests of savers, clients or wider workforces.The rules of the game are set up solely to benefit the financiers whether in London, New York or Hong Kong........It cannot be right that finance insists on freedoms and lack of regulation to indulge in anti-social recklessness in order to make personal mega-fortunes, but when things go wrong to ask for government bail-outs with no questions asked.

The Americans at least take capitalism so seriously they challenge, monitor and regulate it. No such culture exists in degenerate Britain. We need a party which will speak for an interest other than self-interested, amoral plutocrats. None exists."

You can read the rest of Will Hutton's brilliant Observer article on the hegemony of global finance here.

1 comment:

Anonymous said...

It is a brilliant piece and it's good to see a journalist as influential as Hutton speak out so strongly against the non-productive parasites who talk endlessly about how fantastic 'markets' are and how evil state intervention and regulation are, yet when they are in trouble expect the taxpayer to bail them out.