Wednesday, March 01, 2006

Leftist Banking Fantasies

The Leftards are yammering again. They’re whining about banks exploting poor people by pressuring them to buy complex financial products that they don’t need.

No, wait. That was last month. Now it’s the other way round: banks not offering enough financial services to the poor.

Even Leftists realise that criticising people for refusing to sell products to people who can’t afford them might be a tough sale, as it were. Hence, Plan B: yammer on about feelings of ‘abandonment’ and other Therapy Nation garbage.

What’s the answer ? What do these freaks suggest ? Ah, yes, nada. Of course. They’re Liberals, did you really expect them to advocate a coherent policy ? They can’t admit the truth – that they just hate the financial services industry. No matter how badly the insurance companies screw up, people aren’t yet ready for the idea that John Prescott could do a better job. Instead, Liberals try to prepare the ground for more government intervention by seizing on just about any trend to explain why the free market is bad. Banks selling too much to the poor ? Evil. Selling too little ? Still evil. The only consistent theme is this: the market’s full of big, scary monsters, so give all your money to nanny, and she’ll look after it for you. So now the inner cities will have banks that work as well as the local schools ? You think the queues are bad now, just wait to the brains behind the NHS get a grip on the industry. Mind you, I wouldn't mind one of them Tessa Jowell mortgages...

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