Monday, March 30, 2009

Protesting the Presumptions

The protests running up to the G20 gathering have brought "them" out in their droves.

Ms Jackie Ashley (aka Mrs Andrew Marr) and the usual Guardianista suspects continue to jump to the conclusion that capitalism is dead. But she (and they) needs to take note that we still have no proper analysis of what happened. We continue to meekly accept the analysis from the guilty parties (both political and financial) that toxic mortgages are worth nothing. If there was any security involved, then they should not be worthless, even if that security is minimal.

If it transpires there was never any security, then on the face of it, a massive fraud has been committed and the rules/laws are already in place to prosecute the guilty - however cleverly it was wrapped up - and all the people involved need to be tried and if found guilty locked up. Ask Nick Leeson.

If Clinton's Democrats did indeed tell key US financial institutions to break rules in order to appease their voters, then those politicians may also need to be locked up, including the Vice President's husband. Such a thing seems quite possible, given that one of the Auld Fraud's initial delusional responses to his busted boom was to tell the voters that he was ordering the bailed-out banks to abandon the established rules concerning mortgage repayments and loan granting.

So then - call yourselves journalists? Don't extrapolate unresearched assumptions simply to allow the presumptions to hold out the hope of fulfilling long held fantasy desires to write off capitalism to make way for the halcyon times, when that egalitarian and banker-free Socialist future can be ushered in.

As you say, there is much confusion amongst the ragbag of demonstrators who feel compelled to protest about anything that is tainted by the "establishment" because they feel let down and disenfranchised after the past 30 years, during which time all politicians seem to have become increasingly amorphous "all things to all voters social democrats" as they climb aboard the gravy trains that they have expensively constructed for themselves in Westminster, Edinburgh, Cardiff, and Brussels ...and hand in their expense claims.

If we want the future to have any credible foundation, then we must trace this all the way back to the one shack in Alabama that started the cascade of dominoes, and let's see precisely who was involved at every stage of the process - and hound them as surely as any UK bank chases down any defaulter on a £50 overdraft.

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