Marina Lewycka writes:
These same rating agencies, who back in 2006 were happily awarding triple-A ratings to 105% mortgages for half-employed carpet-fitters and insolvent poets, are now telling us how to run the country, saying if we misbehave then Greece, Spain or even Britain will get downgraded. What I can't understand is: why do we take any notice of them at all?
Where's the politician today who'd say what President Franklin D Roosevelt said in 1936: "We know now that government by organised money is just as dangerous as government by organised mob. Never before in all our history have these forces been so united against one candidate as they stand today. They are unanimous in their hate for me and I welcome their hatred."
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What I can't understand is: why do we take any notice of them at all?
ReplyDeleteEr, really? You can't understand it? Well rearrange the following words into a sentence: Because They Buy Debt Our.
Over to you, dear readers: "rearrange the following words into a sentence"...
ReplyDeleteExactly. One of the reasons I am reluctant to jump on the Greeks, even though they probably were profligate, I don't know how I can be hard on them when my own country's government and the president I voted for in 2004 (G.W. Bush) have been spending like drunken sailors, all with the approval of the financial industry, which has accepted huge government bailouts and has the temerity to turn around and preach austerity to the rest of us. This whole narrative would be funny if it weren't so sad.
ReplyDeleteRotor - they could have always, um, NOT bought our debt. They're supposed to be the experts on this subject, after all.
ReplyDelete