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As property prices continue to plummet at significantly higher rates than even the big lenders are prepared to admit, we have yet to see anyone in the financial sector brought to task for the major cock-up that is the credit crunch. But hey, we now own a bank or two but, if a recent BBC programme is to be believed the levels of repossession have not even hesitated, indeed mortgage holders who have had the misfortune to default are being turfed out of their homes in double quick time. So the innocent loose their homes while the perpetrators of this nonsense smugly count their money. Twas ever thus.
New Labour is dead? As more and more of business is taken into public or part public ownership we see the spectacle of nationalisation by crisis - probably not the kind of private finance initiative the Goverment was hoping for. Whilst Gordon was busily hiving off Government spending to the private sector to get his spending plans 'off the books', the private sector was indulging in the kind of financial legerdemain that would make a street shell game artist blush. And here we are at bottom of the heap paying for the midemeanours of those at the top - plus ca change.
