Bringing run-away finance under control

David Miliband has proposed a system under which Bankers can be struck off a register the same as doctors can. This would impose the setting up of a professionally controlled banker’s body similar to the BMI, British Medical Association that governs doctors in the UK. Who would be in charge of bankers? Well of course the Bank of England is the most likely candidate, as it practises finance with a considerable interest stake in it, similar to the British Medical Association practises Medicine in the UK.

hopefully we won’t see the setting up of yet another body that will cost even more money again. People get tired of just paying taxed for elected professionals who do not know what they are doing and constantly make repairs to faulty legislature.

What is at the heart of reckless spending is the Business law or Company law that allows company directors practically nil responsibility but high wages. That is the focus point of the high spending and not professional misdemeanour of bankers in my view.

Bankers only work with other primary legislation and only moral considerations stops them from carrying out their sometimes evil deeds.

Yet this whole problem scratches at the principles of Capitalism and the free market economy. Whereby the big incentive to promote the economy is the fat cat salary and the bonuses thereafter, the big pensions and the share dividends.

No top politicians in office today really want to see any major changes because this system pays them very well. Of course they try to restrain themselves and slap themselves and each other on the wrist by conducting financial witch-hunts of MPS and other representatives with creative accounting methods that proof lucrative for them, but that is about it. What people seem to not understand is the fact that within the current system you cannot stray from the rules, you can only change the system completely to achieve change.

Our current system, also called democracy is built from capitalistic finance, fiscal stimulation and public administration, all of which rely on the creation of finance by economic stimulus, which in itself is governed by financial accounting methods, which require profits to be made. So all political leaders currently in the House of Commons benefit from it and Labour politicians get their salaries paid the same as all other ones and so it is not really in anybody’s interest to promote radical changes, that would both save the environment and stop wasting money on yet more money spinning administration changes.

Putting it in a nutshell, those responsible for politics today are sometimes voted in by less than a quarter of electors. What would happen if nobody went to the polling booths at all? Our democracy would not be able to appoint another half-baked politician who would put his name to the historic mismanagement of earthly resources.

David Miliband’s proposal is nothing but yet another cosmetic short-term solution that will fall foul of capitalist and financial dynamic within decades and proof useless once he is out of office and somebody else has to take the brunt from that suggestion he made.

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