By Doug Richard
Let’s first re-cap the argument to date. Last week during the Budget Festival, Lord Mandelson was on a side stage promoting his idea of a credit adjudicator. This novel idea is to create a completely new judicial system to review unfair loan denials by banks to small businesses.
This is a remedy to the asserted problem that banks are secretly tightening credit requirements or in other ways screwing around with small businesses: setting new fees for current loan holders,...
Money does not behave as we want it to. Nor for that matter do people. We are always disappointed when people act solely in their self-interest. Smart people in smart ways, and other people in less smart ways. Sometimes people help others. But in large people help themselves and those they care for.
It should come as no surprise then that CEO’s over pay themselves, or for that matter that politicians seek to use their influence after they’ve left political office...
Yesterday I attended and participated in an event hosted by UKTI, The Prime Minister, and Lord Mandelson. The purpose of the event was to communicate directly with the CEO's of some of the world's most important large companies who already have a presence in the UK or who are considering inward investment into the UK.
A spectre is haunting the United Kingdom - the spectre of Capitalism.
