Thursday, January 13, 2011

The Banker And The Barrow Boy

Since 2008 when the first epidemic of financial crisis befell us, the argument within governments and for politicians has not just been about what is right but what to do. In all the confusion, the UK did rather take a decisive step under Gordon Brown and maintained that [somewhat] until now.

In the broil of the whole meltdown originally christened ‘Credit Crunch’, countries have tried different tactics and at a point all hailed Gordon Brown as ‘saving the world’. Of course, if Jesus actually did that, Mr. Brown wouldn’t have needed to repeat it. But again, like Jesus, no one believes he succeeded. Sorry, the world cannot be saved.

Then came the
Conservatives into government in Britain. And surely, those who has followed events are not surprised. During the 2008 confusion, dear Mr. Cameron was switching sides every fortnight. He did praise Gordon Brown and gave his support the day Northern Rock was stopped from destroying the savings of many men and women in this country. The queues disappeared instantly restoring faith and abruptly stopping the run on banks. Of course, if that queue had last one more week, customers of other banks would have formed similar ones… the result? Your guess is as good as mine.

Today, the issue isn’t the worry about a run on the banks but a run off with the money from the banks by the bankers themselves. This is christened 'Bonus'. But how do we stop them? As it appears, it seems these bankers are stronger than the government.

The previous government was able to stop the barrow-boy and tamed the banker by a 'one-off' tax on 'bonus' to the tune of over £3b. But the present government isn’t quite strong enough to stop the banker. May be, its only tactics that is required.

Well, without doubt, the bankers are never easy to control, but the present government has to do its best to at least tame them just like the previous government. If that is not done, the barrow boy might go on rampage.

Are we talk of no-deal strike here?

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