Tory speaks sense?

I’m not sure exactly what the Tories would have brought to the biggest fire sale in UK banking history if they’d been calling the shots, but it has to be said that that old pro Kenneth Clarke isn’t wrong.

I’m not a Tory myself.

I’m one of the fuckskulls who voted Labour in all of the last three elections in the mistaken belief that they were what this country needed and that they would adhere to at least a few socialist principles.

How utterly fucking wrong I was.

People who saw a radical alternative to the Tory policies which deepened divisons in society, destroyed our manufacturing base and saw increasing erosion of individual rights were done up like kippers.

We were conned, with pledge after pledge being dropped from successive manifestos, a proliferation of restrictions on civil liberties and participation in illegal military actions from which we could never hope to emerge with any shred of integrity or dignity.

And all the while we were the US’s bitch and Blair was Bush’s fuckbuddy.

So, how I’ll vote in the next election is going to be a real problem…

Anyway, I actually quite like Ken Clarke.

He seems one of the more ‘human’ Tories and anyone who’s a big jazz fan, praises Miles, smokes and wears suede shoes can’t be a complete waste of oxygen.

Here’s the gist of what he had to say:

Mr Clarke said a Federation of Small Businesses survey suggested only 8% of small firms found banks had made credit available under the guarantees.

He also said, “They (HBOS and Lloyds TSB) should never have been allowed to merge. Lloyds TSB was a boring bank, it was a steady bank, it hadn’t done silly things.”

The FSB survey that more than half (53%) of small businesses said they did not believe the government’s policies would get banks lending again.

Mr Clarke said it was “frightening” that ministers were “dithering” over implementation, he told the BBC’s Today programme.

He said there was a “huge gap” between Treasury rhetoric and reality.

“I am just astonished that no-one appears to have had the discussions with the banks about the operation of the scheme from the day it was proposed,” Mr Clarke added.

His point about the lack of wisdom behind the merger of the two banks is a very valid one.

It’s like putting putrid meat and fresh meat together in a stew – it’s going to fuck the whole issue up as the fresh meat will be ruined and the rotten meat was ruined anyway – and suddenly the decision of Barclays to remain independent from any taxpayer bail out looks even more sensible.

There’s lots of talk about toxic assets and toxic banks – what about toxic governments?

That’s the problem.

Disregarding Labour’s past record, is it really the party that is going to get us out of the shit we’re in?

I don’t think the jury’s out on that one.

I think they’ve gone home, sold up and emigrated…

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One Response

  1. Have to say I agree Steve. Two very different business models here and to think Lloyds TSB were being criticised for being too unambitious a while ago!

    Clear to see that it was a hastily assembled deal and suspect they would have liked to have undertaken much more due diligence.

    Just how bad is it at HBOS? Pretty horrible from the size of the provisions , but mind you if I were in Lloyds right now , I think I may err on the side of raising provisions if I were in doubt (“bring out your dead…”) , as public memories will be short and this time next year further bad debts even more unwelcome.

    Time will tell…..

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