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LUCKY BANKERS who'll always be in the MONEY

By

Andrew Alexander

[Daily Mail-December 14, 2007]

COMMERCIAL banking is a wonderful business, at any rate for those who manage it. Succeed and you will be handsomely rewarded.

FAIL

-and you will still be handsomely rewarded, indeed rescued at the expense of the

TAXPAYER

even several countries taxpayers.

The 'headline' story about the current banking crisis tells you, or at least implies, that the system by which banks lend to each other is not working.

Oh, yes it is!

It is merely obliging banks to lend to each other at higher rates of interest.

The lending continues on a very large scale.

The observant and the cynical (the first is liable to make you the second) will be particularly struck by two things.

THE FIRST is that the current international operations seemed aimed at rescuing the

PROFITABILITY of the BANKS.

WHICH IS NOT THE PURPOSE OF A CENTRAL BANK

Its job is to

RESCUE DEPOSITORS

and ensure that the banking system still operates, leaving

SHAREHOLDERS

to suffer whatever punishment arise

WHEN ANY BUSINESS GOES THROUGH A BAD PATCH.

THE SECOND curiosity is that, despite the alarm signals put up by bankers, they are STILL paying astronomical BONUSES to their TOP STAFF.

The total will no doubt exceed the

£50 BILLION

which the

FIVE MAJOR CENTRAL BANKS

are pumping into the system to

'rescue'

US

Or at any rate to rescue bank's shareholders and senior executives.

As to the perils of

RECESSION

defined as two successive quarters of falling output -we have High Street banks which have seriously

OVERLENT

and consumers who have seriously

OVERBORROWED.

IT WAS BOUND TO END IN TEARS.

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[SO we all know who are not going to suffer THIS CHRISTMAS or any CHRISTMAS in the future until the banking system is shown that the DEPOSITOR is FIRST IN LINE for PAYMENT before BANKERS who were RESPONSIBLE for the understood DISASTER in the FIRST PLACE.]

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TO FOLLOW

GORDON BROWN SAYS WE ARE 'WINNING' IN AFGHANISTAN -BUT THE LOCALS HAVEN'T NOTICED

Last three paragraphs:

We talk about uniting the Afghans ( against the Taliban), hence the election of President Karzai [who is as they say in the very  popular comedy series up-the- karzi or up the creek' as we all know] whose writ now scarcely runs outside Kabul itself. The only thing that truly unites the Afghans is

FIGHTING FOREIGN INVADERS.

We also talk about 'training' the Afghans in the military arts to provide a well-armed internal security force - as if they of all people needed lessons in fighting.

THE FOLLY of occupying AFGHANISTAN, like VIETNAM or IRAQ,  is THAT if you are NOT the SOVEREIGN POWER, people know you will one day GO AWAY. So they keep on the right side [for the goodies] of those who will REMAIN - especially the RUTHLESS.

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	AFGHANISTAN THE ROAD TO RUIN AND DEATH FOR THE BRITISH ARMY by Daily Mail - Columnist Andrew Alexander

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THE PEOPLE HAVE SPOKEN-IS THE EU COMMISSION LISTENING? * Ditch the EU TREATY after IRISH REJECTION SAY VOTERS by Daniel Martin Political Reporter [Daily Mail-Wednesday, June 18,2008] MORE THAN HALF of voters believe Britain should drop the controversial European Treaty in the wake of its rejection in last week's IRISH REFERENDUM' The poll comes as the Tories launch a last-ditch bid in the HOUSE of LORDS today to delay the RATIFICATION OF THE TREATY. And 10,000 people have signed a PETITION on the DOWNING STREET- WEBSITE within the past few days JUNE16-2008 , calling on the GOVERNMENT NOT TO RATIFY THE BILL [WHY DON'T YOU?]   Downing Street website is http://petitions.pm.gov.uk/Abandon-Lisbon/ * JUNE 18-2008

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