Banks: Wrong solution to wrong problem

David Davis

Well, it’s beyond Marx’s and Lenin’s wildest fantasies. Many of the West’s biggest banks have fallen into the clutches of states, ostensibly through the results of their own actions, but in fact because of probably very careful planning and subterfuge. This would have been over a very long period while we all slept, by lefties who forsaw it and brought it about.

If you “regulate” the sort of activities that banks do, then they will inevitably try to find products and ways round, so as to carry on being successful despite you, not because of you. Furthermore, if you do what lefty slobs did under the Clinton administration, and threaten/force/bribe banks to lend money to NINJAS, to buy democrat stalinist votes from said people, then the banks will respond by “securitising” these mortgages and selling them on in parcels with an attractive yield attached.

What should have happened is that the worst-exposed ones should have been allowed to fail, and the better pieces picked up by smaller, harder outfits better able to resist further State blandishments in future. Instead, what will now happen is that we shall get more of the same.

Other states will now see also that “the thing can be done” and their banks will come in for strangling too. Worse, Gordon Brown will get to look decisive and popular again. What price he tries to ram through things like “42 days detention” again?

Sean Gabb was right after all!

David Davis

Even the crypto-lefty John le-Carré now thinks there is a case for thinking that the “anti-terror” “laws” might be an excuse for a police-state.

I’m sure that the PM will say something about “protecting and supporting the British People against terrorism” (or against bust banks) in his speech later.

I caught that rather strange object “Jacqui” “Smith”, quite accidentally, on the Wireless Tele Vision Machinery, this morning. It (the “Jaqcqui” (?) “Smith”  (I can’t often spell “Jacqui” easily these days, there are so few of them) ) was mouthing something about “supporting the British People through a difficult time and supporting the Prime Minister while he “gets on with the job” “. All I was trying to do was change channels to “CeeBee-Bies”, for our littlest boy. And I got “ministers”…oh well.)

David Davis is returned as MP in Haltemprice and Howden

David Davis (not that one)

The Barclay Bugle has the main report here.  Interestingly, there are other repercussions: the Tories recognise the ball-and-chain that Davis has put round their ankles on this one. And here’s Philip Johnston, always a sound read.

Notice how the lefties are all wailing that the by-election “cost £200,000 to the taxpayer”. Talk about the Pot Calling The Kettle Black…. I bet Ken Livingstone’s wie-store in his office was  more than that, and we could have had a new ballistic-missile sub for only 10,000 times as much, or else a couple of mine-proof, IED-proof vehicles in Afghanistan, for only the basic 200-grand!

On a lighter note, I wonder how Labour’s fire-sale went last night? Or was it cancelled as nobody would turn up?