Brown and Obama favour the big banks heavily regulated - I wonder why ?

Nationalisation has until very recently been out, and yet one of the main aims of the socialist has been to control the banks.

Thanks to the mismanagement of Bush and Brown ( with supporting roles from the Middle East and China fuelling the asset bubble all this was built upon ) our banks where challenged in such a way that we could not let them fail.

The socialists ( Obama and Brown via the G20 ) think these means state control of a few large banks that will eventually be instructed what to do ( which is where more regulation will go eventually ).

The free marketer want smaller banks that can go bust without tax payer intervention. ( As argued for by Mervyn King this week )

So its corporatism and socialism vs freedom and the free market. An interesting, if familiar, dividing line ...

So why aren't we made as hell about Brown destroying Lloyds ?

Iain Martin has a good article about Brown's culpability for the destruction of Lloyds bank and the effective rape of its shareholders by Gordon Brown.

I recommend reading his article and asking just why isn't this the key issue in politics right now ?

See also my earlier post on why corporatism is to blame for our current crisis not free markets and capitalism as every Left wing luvie is repeating like a mantra on every broadcast they can get on - and its a lot.

Remember its Corporatism and Statism that has delivered this crisis, not Capitalism

[The following post was started on 28th Feb after listening to the ritual attacks on Capitalism made by opportunist left wing commentators ont he BBC, tidying up done on 10th March, motivated in part by a similar argument from Iain Martin in his blog in today's Telegraph].

Listening to Any Questions on Radio 4 this afternoon I was suddenly alarmed at the socialist snakes who wish to pin the economic disaster we are experiencing on Capitalism.

They are up to their new found tricks of putting it into a narrative, which means it must true.

There are two things that have made the current crisis lethal:

1) Corporations like RBS and HBOS that like the Titanic are too big to fail run as near dictatorships by hardened careerists who main talent has been to elbow those with any knowledge of banking out of the way. They were warned, and those who warned were either fired or in the case of the FSA and Bank of England told to shut up by the Corporatists friends in government. ( So regulation didn't fail except to the extent that its warnings where able to be ignored by corporate and state governments. )

2) The State has expanded to a level that is unsustainable. That has been very clear for some time to anyone who cared to think about it. The Statists embraced the corporatists as they both have common enemies in the upstart capitalists and independently minded smaller companies and individuals.

Labour has been the constant friend of corporatism, in the past in its union and state nationalised form but more recently in the form of unaccountable quasi governmental and business bodies.

The individual has been lied to, spun to, and is now being crushed and enslaved for future generations by the current Labour corporatist government. By running up such astronomical debt they ensure that the state corporation survives as well as the new quasi government controlled economy through regulation and ownership of the means of doing business.

I am tired to the attacks on Capitalism and by implication the Right.

Its the Left and its friends in Corporatist government and business who are to blame.

England voted against Labour at the general election, but got a Labour government and the EU constitution. My wife voted against the Lloyd's HBOS merger as I warned her what would happen (and it has), but she has still had her wealth confiscated.

No one has even bothered to ask me if I want to save all the non-retail depositors in our banking system by enslaving myself and my family for the rest of our lives to being used to underwrite state debt.

Capitalism didn't fail, government did and is compounding the insult with enslaving our future to corporatist indentured debt slavery. If there is a lesson from the current disaster it is large corporations (state and private) are a threat to our lives.

Further: Iain Martin is trying to draw peoples attention to the scale of the Lloyds disaster brought on by Brown and his culpability.

I especially like this quote....

"Corporatism is what happens when big government does sweetheart deals with big business. It results in a conspiracy of powerful elites against the interests of consumers, shareholders and voters."

...to right Iain.