"The budget is a piece of theatre meant for your consumption. It is a cute moment–a photogenic moment where a multimillionaire can hold up a red box and bribe you with a bit of your money, while they and all the other multimillionaires bankrupt the government with monetary and fiscal stimulus packages that seem somehow to always end up in their own pockets"
No-one will be surprised that #RachelReeves commitment not to reinstate a cap on #bankers bonuses & her talk of how valuable #financialservices are to the country follows an influx of £2mn into party coffers from that very source.
In all fairness this is no worse than the #Tories, but for many, they/we want to see something (very) different from Labour not just more of the same kowtowing to the interests of the City of London!
Today in Labor History January 25, 1787: Daniel Shays and 800 followers marched to Springfield, Massachusetts to seize the Federal arsenal during Shays’ Rebellion. The Massachusetts State militia ultimately defeated them. They were trying to end the imprisonment of farmers for debts, confiscation of their lands and other attempts by the wealthy to make the poor pay for the Revolutionary War. The authorities convicted and hanged many of Shays’ followers for treason. Shays, himself, fled to Vermont. He eventually won a pardon. The U.S. Constitution, written in the wake of Shays’ rebellion, was designed in part to prevent other similar uprisings by the common people against slave owners, bankers, landlords and businessmen.
🇷🇺 Ukraine on Friday urged the West to "get serious" about curbing Russia's arms production by shutting loopholes that allow it to keep sourcing key parts.
See how long the #AI love affair lasts when they propose it as a replacement for C-level Execs or #corporate board members.
Not even talking about investment #bankers, or #investment "professionals".
Now the bankers will spread their losses, which result from them making a bad loan, to us.
Fuck that.
Every underperforming bank executive that was employed when the bank lent funds to crooked Giuliani should have to pay back every penny of the bonuses and other perks they got for making a bad loan with a crook.
The FT's verdict on #KwasiKwarteng's recent mea culpa on his budget (which he delivered as you will recall, during his historically brief tenure as Chancellor)
(You'll recall that the international 'markets' (by which we mean #bankers & speculators) were unimpressed by his budgetary approach.)
'Those pesky irrational markets. If only Kwarteng had studied financial history a bit harder before becoming Britain’s top financial minister'.
(Kwarteng is of course an historian of financial markets!)