It is quite unusual for a profession to be so disliked that while they are
carrying away cardboard boxes after emptying their desks for the last time, they still face as much derision as before. Sympathy is not in abundance for the city boys because it is hard to feel compassion for a Lehman Brother employee where the average wage was £160,000 pa. The biggest cheers are coming from the left who are like a dog with three tails as the Capitalist system falls apart around everyone's ears.
The average person, and i include myself in this, do not understand much about the World markets or what the FTSE index does and the only time we have come across AIG was on the front of a Manchester United shirt so it doesn't have any effect on our lives what the NASDAQ is doing but suddenly we are told that our lives are on the verge of being altered drastically. Yet again.
Seems to me that the way the system works is to have a period of growth where the gap between rich and poor widens and every decade or so, there is a massive fall which primarily kicks the poorest repeatedly until things pick up and off we go on the same path to do it all over again.
To my untrained eye, it seems that the guardians of the system are happy to play fast and loose with other peoples money and walk away financially secure with a bulging bank balance when it all goes go pear shaped while everyone else has to tighten the belt and dread a call to assemble in the Managing Directors office.
Obviously, putting all your eggs in one basket is a ludicrous idea so having a few behemoth institutions that have enough sway to drag down multiple other businesses with it when it flops over is bad business management. If we have learnt anything it is that smaller financial centres that cause smaller waves when they make bad decisions is the way to go, that is if Capitalism survives because this is the opportunity that the anti-Capitalists have been waiting for. If they can devise an alternative economic model, or radically shake up the one we have, this would be the time to push it out. It won't be any good in eighteen months time when the cycle is moving out of the slump phase, slap it down on the table now because you won't have a better opportunity. Capitalism is down, boots on lads and start kicking it into a more fairer, less corrupt and more stable model run for everyone and not just the few.
There is a campaign backed by the former Danish Prime Minister for World leaders to address the fundamental causes of this crisis here.