More Caroline Lucas amusement

\”It’s now or never for the leaders of the world’s biggest economies to make the changes that will support their claims to have learnt the lessons of the financial and economic crises.

Oooh aye?

“Strict and consistent measures must be put in place to regulate financial markets, particularly in regard to hedge and private equity funds.

Private equity had absolutely Sweet FA to do with this so why more regulation for them? As for hedge funds, their contribution was to make it less awful than it might have been by all that short selling n\’stuff they did.

“Bank bonuses should be capped, and redesigned to reward investment practices that are sustainable, instead of the kind of short-selling that had such a destabilising effect at the origins of the crisis.

Umm, no, if there had been more short selling going on then the crisis would have been lessened.

Bob Shiller for example (and he\’s someone we are indeed taking seriously over this) insists that one reason the bubble got so out of hand was because it is so damn difficult to short sell property. And that the solution is to make it easier.

“The introduction of a tax on financial transactions would also put a brake on dangerous speculation, while raising valuable funds that could help to repay the public debts that have piled up from bailing out the banks.

Mhmm, hmm. Just like stamp duty on shares stamps out speculation eh? And as for raising money, there are serious people out there who insist that abolishing stamp duty of shares would increase tax revenues. Not revenues from stamp duty, obviously, but overall.

If global support cannot yet be won for such a tax, then the Eurozone countries should look to go it alone as a first step.

At last! Something sensible being said by an MEP for the SE of England! That would entirely fuck over Paris and Frankfurt as international financial centres and boost London greatly. Well done for thinking of your constituents for a change!

Err, Caroline, you have noticed that the UK isn\’t in the Eurozone, haven\’t you?

Clearly, studying sonnets is not a great preparation for joining a legislature.


3 comments on “More Caroline Lucas amusement

  1. >repay the public debts that have piled up from bailing out the banks.

    You politicians are the fuckers who spent my money on the banks without my permission. So how about *you* start paying *me* back.

  2. “repay the public debts that have piled up from bailing out the banks.”

    That should be “make good the losses from bailing out the banks” since the debt was used to buy assets, which are worth more than zero. A point lost on baying morons in our political class.

  3. Pingback: First Class posts on Thursday | Letters From A Tory

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