International Law

Let them eat cake

By John Hirst

Bradford

Bingley

Gordon Brown's had his boom, now he's bust says David Cameron

"David Cameron pinned the blame for Britain's economic crisis on Gordon Brown yesterday as his party countered Labour's claims about who was best placed to guide the country through troubled times".

However, another picture emerges which suggests that David Cameron and the Tory Party are in someway to blame for the present financial crisis. "The Tory party conference got off to an embarrassing start today after it emerged that the Conservatives have taken large donations from hedge-fund managers whose firms made vast sums of money from taking bets in some of Britain?s crisis-hit banks.

David Cameron, the Tory leader, has accepted almost £2m from hedge-fund managers who took bets on banks such as Halifax Bank of Scotland, which was forced into an emergency rescue by Lloyds TSB, and Bradford & Bingley, which is itself on the brink of collapse".

David Cameron is famous for trashing restaurants in Oxford when he was a student and a member of the infamous Bullingdon Club. Now he runs a very exclusive Dining Club. A place at his table costs a minimum of £50,000. The diners are managers of hedge funds. Their companies are domiciled offshore for tax reasons. According to David Cameron: "They don't have any influence on my policy at all". However, these people do not invest money on a no return basis. They are not in it for charity. In my view, David Cameron should come right out and declare exactly what he has promised to give these diners.

The government has announced it is to nationalise Bradford and Bingley at a cost of £40.3 billion to the taxpayers. I predict that at least another £100 billion more of taxpayers money will be used to bail out other financial institutions very shortly. It is all very well these capitalists stating that there should be no state interference in their business interests when they are profitable, and yet when they get into financial difficulties they are quick to put out their begging bowls and ask the government to tax the public to bail them out. The public lose out to business and then lose out to the government.

I don't have £50,000 to buy a place at Dave Cameron's Toff Restaurant. Whilst they eat cake, the rest of us end up with the crumbs off the table. If this is democracy at work, the very least we can do is not vote to allow these Tory Pigs to get their snouts into the trough.

Cartoon stolen from Guido's blog

Full post as published by prisonlawinsideout on September 29, 2008 (boomark / email).