Tuesday 6 December 2011

Dos the 'market' govern us now?

Well, I used to worry that multinational companies really ruled the world and that governments were relatively powerless...

Now is seems that the markets can impose unelected technocrat governments (Greece and Italy) and via Standard and Poor's rating agency make whole regions quake in their boots and adjust their policies to please the market.

Where were Standard and Poor's  when the banks were behaving so recklessly back before 2008?

Where does that leave democracy and our right to elect a party that will govern in OUR interests?

See Wall Street Journal on S & P's role in original US mortgage crisis HERE

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