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HANDED TO
THEM ON A PLATE-A MARXIST'S DREAM OF CONTROL-THE
BLOODY TAXPAYER WILL HAVE TO PAY THE BILL.
*
N0
alternative perhaps, but it'll be us who foot the
bill for this bonanza of socialist indulgence.
by
Peter Oborne
Daily Mail-October 13, 2008]
[Well! we
now all know that the bastards who have robbed us
have got clean away and have left a weapon by which
politicians now have the means to feather their
own nests and party ambitions. It couldn't have
happen to a more deserving people who have trusted
the politicians and the two-party system for too
long!]
WHEN young
Alistair Darling first flirted with politics in the
Seventies he was the classic bearded Leftie of
popular legend. One old comrade recalls Darling as
'pressing Trotskyite tracts on bewildered railwaymen
at Waverley Station in Edinburgh.
The future
Chancellor was extremely close to an organisation
called the International Marxist group, heavily
penetrated by British Intelligence, one of those
primary objectives was the nationalisation of the
British banking system.
The IMG
weren't stupid. They had been to university and read
up on the classic Marxist texts. They were well
aware that STATE OWNERSHIP of the BANKS was one of
the vital steps to the establishment of COMMUNISM.
This was
because control of the banks meant STATE CONTROL of
CAPITAL. Investment decisions would be made by
heavily politicised government bureaucrats -
WHO
WOULD POSSESS IMMENSE POWER.
Of course,
it would be totally unfair to claim Alistair Darling
nationalised the banks yesterday because he wanted
to destroy capitalism. On the contrary, I am certain
the Chancellor acted as he did because he was trying
to prevent the collapse of the British economy.
I even
believe that Darling is sincere when he promises NOT
TO INTERVENE in the BANKS while they are in PUBLIC
HANDS.
BUT I do not
believe for one moment that he will be able to KEEP
THIS PROMISE.
The
consequences of yesterday's actions ARE VERY GRAVE.
The will change the nature of the commercial world
we live in.
Alistair
Darling's old chums in the International Marxist
Group will celebrate but the rest of us HAVE EVERY
REASON TO FEEL VERY, VERY WORRIED.
[THE GREEDY
BASTARDS COLLECTING THEIR 17 BILLION BONUSES MUST
HAVE KNOWN THEY WERE UNTOUCHABLE AND COULD NEVER
LOSE OUT- ONLY THE STUPID TAXPAYER WOULD BE THE
LOSER, AND WE WILL SOON ALL SEE THE RESULT. ]
Consider
this: it is now virtually certain that well over
half of Britain's banks will fall under STATE
CONTROL in the course of the next few weeks. the
government porfolio includes the majority of our
most famous names :
the HALIFAX,
the BANK of SCOTLAND-NAT WEST and LLOYDS -alongside
NORTHERN ROCK and BRADFORD & BINGLEY,
already taken into the public domain.
ALL THESE
BANKS ARE NOW ACCOUNTABLE NOT TO SHAREHOLDERS
BUT TO POLITICIANS.
This will make their decisions not
on commercial good sense but on the basis of WHAT IS
POLITICALLY ACCEPTABLE.
We have already seen a small
flavour of this with the publication opf the merger
document two weeks ago between LLOYDS and HBOS.
LLOYDS (whose chairman if Gordon 's crony Sir Victor
Blank) was obliged to make a promise to retain jobs
in Scotland to suit the political priorities of the
LABOUR PARTY.
[We believe
that under the present financial crisis there should
be a NATIONAL GOVERNMENT in order that the
GOVERNMENT of the day does not use the means at its
disposal to its own benefit instead of the benefit
of the TAXPAYER
A National
GOVERNMENT would also allow the best brains and
expertise from all spectrums of the political and
academic fields to pull together for the good of the
country and not as now give the present incumbent of
No10 the weapon to ensure a further term in office
at a time of his choosing.]
Ransacked
Many more such decisions will follow.
Politicians will view the banks as a vast pot of
public money to be ransacked at will. Ministers will
be able to bully bank management into placing
depositors' money into giant vanity projects like
the OLYMPICS.
Many will feel - with great justice -
that it is impossible to run a bank any worse than
men like Fred Goodwin of the ROYAL BANK OF SCOTLAND
who brought his great financial institution to its
knees.
THEY SHOULD THINK AGAIN
AND WAIT UNTIL THE POLITICIANS TAKE
CONTROL
The wretched Goodwin may have wasted
billions of shareholders money at RBS. BUT the
LABOUR GOVERNMENT has SQUANDERED hundreds of
billions in the NHS over the past 11 years, not to
mention all those lame-duck nationalised industries
in the Sixties and Seventies, such as BRITISH STEEL.
Those with long memories will also
remember what a disaster public ownership of the
MOTOR INDUSTRY was with BRITISH LEYLAND.
However well-intentioned
Alistair Darling may be, PUBLIC OWNERSHIP of
BANKING will be EVERY BIT AS BAD.
Investment decisions will no longer
be made for sensible commercial reasons, instead,
politicians will try to suck up to the VOTERS with
LITTLE or NO ATTEMPT to MAKE A PROFIT FOR THE
TAXPAYER.
BANKS WILL BECOME PART OF OUR SOCIAL
SECURITY NETWORK.
Already pressure is building up for
nationalised banks not to foreclose on home owners
who can't pay their mortgage. That all sounds very
nice and cheerful but it raises the question:
WHY SHOULD THE AVERAGE CAREFUL
TAXPAYER WHO KEEPS HIMSELF OUT OF DEBT BE REQUIRED
TO PAY THE MORGAGE OF A PROFLIGATE HOME OWNER WHO
CAN'T BE BOTHERED TO PAY HIS BILLS?
There is an urgent need for massive
redundancies to make our bankrupt banking system
profitable yet again.
*
Wasted
But no politician is going to press
the button on job losses as we approach a general
Election, which is why Labour threw the terminally
sick Rover a huge cash lifeline just before the last
election. Taxpayers' money which was utterly wasted
when the FIRM LATER CRASHED.
[We believe
that under the present financial crisis there should
be a NATIONAL GOVERNMENT in order that the
GOVERNMENT of the day does not use the means at its
disposal to its own benefit instead of the benefit
of the TAXPAYER
A National
GOVERNMENT would also allow the best brains and
expertise from all spectrums of the political and
academic fields to pull together for the good of the
country and not as now give the present incumbent of
No10 the weapon to ensure a further term in office
at a time of his choosing.]
There is a second problem about
nationalising the BRITISH BANKING SYSTEM:
IT SMASHES THROUGH ALL KNOWN RULES OF
COMPETITION.
Sensibly run banks such as
Barclays and HSBC have not needed to throw
themselves at the mercy of the taxpayer. they tell
us they intend to remain in the PRIVATE SECTOR.
But can they compete with a STATE-OWNED INSTITUTIONS
offering competitive financial products with a STATE
GUARANTEE?
Barclays is greatly to be admired
for its pluck -but state-controlled banks have a
grossly unfair advantage if they are allowed to
compete openly in the market place.
(By the way, there is no excuse at
all for continuing with the planned merger of
LLOYDS
-a well-run bank which, like
Barclays has a balance sheet strength to remain
INDEPENDENT
-and HBOS following
yesterday's bail-out announcement. This will
create a monstrosity which smashes competition
rules, with 30 per cent control of the HIGH STREET.
For these reasons - while
accepting that action needed to be taken - I believe
that yesterday's developments
WILL PROVE A
DISASTER FOR THE BRITISH TAXPAYER.
Treasury ministers promised us 12
monyh's ago that we
WOULD NOT LOSE A
PENNY ON NORTHERN ROCK
and that promise
PROVED FALSE.
Alistair Darling's claim that THE
TAXPAYER wont lose out this time is equally
meaningless, it is entirely possible he will be
FORCED TO INJECT yet more BILLIONS of PUBLIC MONEY
into the BANKING SYSTEM . . . .
THAT sum is four times the
official figure of approcximately
£500 BILLION
in Alistair Darling's
BUDGET STATEMENT
last year and is reached by taking
into account the HUGE COST of yesterday's BANKS TAKE
OVER and other MAJOR DEBTS such as PUBLIC SECTOR
PENSION COMMITMENTS and the [ greatest con-trick on
the taxpayer of the 20th century and costly burden
for the future. ]
PRIVATE FINANCE INITIATIVE.
Debt
Soon the
Treasury will be forced to borrow heavily on the
international debt market to pay the cost of
yesterday's spending spree. International lenders
WILL EXACT A
HEAVY PRICE.
Thanks to
the terrible events of the past few weeks, the
British NATIONAL BALANCE SHEET is shot through even
worse than it was in the Seventies, when Dennis
Healey was forced to go to the INTERNATIONAL
MONETARY FUND to plead for EXTRA CASH.
IN THE END,
it will NOT be the POLITICIANS or the BANKERS who
foot THE BILL for yesterday's extravagance -IT WILL
BE THE POOR BLOODY BRITISH TAXPAYER.
VOTERS MAY
HAVE THOUGHT THAT TAXES COULDN'T GET ANY HIGHER
AFTER 11 YEARS of GORDON BROWN. THEY NEED TO THINK
AGAIN. TAXES WILL RISE TO LEVELS NOT SEEN SINCE THE
SEVENTIES TO PAY FOR YESTERDAY'S BONANZA OF
SOCIALIST INDULGENCE
*
OCTOBER-2008
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