Thursday, December 18, 2008

Frontline video from the economic crisis

Here's a report from Jason Parkinson (who did the Shelf Life interview earlier this year) that sheds a little light on the global financial crisis and some London responses to it.

It seems remarkable that while governments drag their feet interminably when it comes to finding the money needed to tackle the real problems that planet is facing, as soon as the banks and money markets start to teeter (having had virtually all regulation needed to save them from eating each other alive), billions upon billions of pounds are magically found to prop them up.

I guess that the alternative of letting them all go to the wall risks bringing down the entire ideological framework that most of the world's 'leaders' have based their entire value sets around - too much to contemplate when primary concerns are more holding onto the reins during short-term electoral cycles.

Andrew Rawnsley also had some good suggestions for better uses of that money for Britain in last week's Observer.

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