[Re: Pity Osborne isn’t this passionate when talking about growth, yesterday]
George Osborne is treating this scandal as a political game, and most of the coalition is following him. There may be evidence of over-close contact between politicians and bankers, but that contact crosses the spectrum – it is, in fact, structural.
The panel questioning Bob Diamond was weak, desperate to make political points. The MP who asked about the number of times ethics was mentioned in Barclays’s annual report made a particularly cheap stunt. It was right for Diamond to go, but these MPs only managed to enhance his reputation.
Costs and benefits
There may be good reasons to not hold a judicial inquiry, but surely cost isn’t one of them. Whether an inquiry amounts to £10m or £50m is neither here nor there if it’s the right thing to do.
[Re: The Higgs boson discovery is only the first chapter, yesterday]
Joel Goldstein’s article is a useful tonic to the unceasingly negative news coming out of the financial and political worlds. Whereas we must acknowledge the daily scandals and sagas that our leaders force upon us, it’s good to be reminded that human knowledge is still progressing, even if it’s not immediately noticeable.
The Bank of England’s further round of QE is welcome but not sufficient to make up for the government’s economic incompetence.
Labour policy: print money and give it to people. Coalition policy: print money and give it to banks. Guess which wins?
We have the biggest tax burden since World War Two, and the smallest army since Victorian times. This isn’t Conservatism.
Hollande’s 75 per cent tax on €1m earnings shoots French entrepreneurial growth dead.