distractions

It is interesting that this kuffufle over MPs expenses comes straight after a similar one over bankers pay. The magnitude is stark: millions for the bankers, thousands for MPs. You could argue that the MPs expenses is of more importance for the public debate, because they are taking tax payers cash, but given that the banks brought down the economic system and credit – to the banks – is heavily subsidised I am not sure this should stick as a valid argument. But it does. After all many still think the economic mess is not the banks fault, but the government. The result is that in the day that MPs ‘concluded’ that bankers bonuses contributed to bring the system into disrepute, MPs are on the front of every newspaper bickering with the public over mortgages, swimming pools, tennis courts, jars of Branston Pickle and small bags of mouse poison. No wonder the bankers are ready to break out the champagne and restart business as usual.

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