David Burbage’s weblog

Politics in the Royal Borough of Windsor & Maidenhead

  • About David Burbage

    David Burbage MBE was Leader of the Royal Borough of Windsor and Maidenhead Council from 2007-2016. This blog : Promoted by Geoff Hill on behalf of David Burbage and all other Windsor and Maidenhead Conservative candidates, all of 2 Castle End Farm, Ruscombe, Berkshire RG10 9XQ
  • Meta

Archive for July, 2012

Sound finances

Posted by davidburbage on July 20, 2012

“Cash reserves in the UK held by banks in 1968 represented 20 percent of its deposits. By 1998, the figure was 3.1 percent” – Ferdy Mount, The New Few

It didn’t take much bad news and the looming losses of complex derivatives for the banks to look like failing – and everyone ends up paying a bailout to keep the system working. The FSA didn’t exactly prevent it happening.

Whilst a working system is better than no system at all, one has to wonder why the banks were not forced to be rather better capitalised. Another suggestion is to give bank directors liability . . . .

addendum : another reviewer noted

“The hollowing-out of political parties and the rise of special advisers, the diminished powers of local authorities and the centralisation of public services, the decline of the cabinet and the rise of sofa government, together with the increasing scope of European legislation – these and other developments made democratic resistance to the emerging oligarchy all the more difficult.”

It is true – we fight almost daily trench warfare against centralism and euro-legislation…..  all on behalf of residents….

Advertisements

Posted in Labour failings | Leave a Comment »

A hard nosed look at the state of the nation

Posted by davidburbage on July 1, 2012

This from Matthew Parris : (hat tip to Guido)

“We have been living beyond our means. We have been paying ourselves more than our efforts were earning. We sought political leaders who would assure us that the good times would never end and that the centuries of boom and bust were over; and we voted for those who offered that assurance. We sought credit for which we had no security and we gave our business to the banks that advertised it. We wanted higher exam grades for our children and were rewarded with politicians prepared to supply them by lowering exam standards. We wanted free and better health care and demanded chancellors who paid for it without putting up our taxes. We wanted salacious stories in our newspapers and bought the papers that broke the rules to provide them. And now we whimper and snarl at MPs, bankers and journalists. Fair enough, my friends, but, you know, we really are all in this together.”

Posted in General | Leave a Comment »