Ed Miliband on banking

Ed-Miliband-006

Speaks for itself

It’s a funny thing is politics. Someone demonstrates that they have the skill set required to win an election and, in doing so, they assume responsibilities for which they have demonstrated no discernibly appropriate skill set at all. It might be fascinating to hear Alex Ferguson give a lecture on football tactics, but I’d skip his thoughts on string theory and quantum mechanics.

Take Ed Miliband. The son of a politician, the brother of another politician, he has spent his entire life in politics. What is there is this background which gives him any basis upon which to comment on banking, let alone very much else?

Yet that is what he did last July when he gave a speech at the Co-op bank saying 

“It is a pleasure to be here at the Co-op. You have always understood that ethics of responsibility, co-operation and stewardship must be at the heart of what you do.

That’s one of the reasons why the Co-Op bank has in the last week seen a 25 percent rise in applications for accounts.

It was your values that I was talking about last September when I said to the Labour Party conference that Britain needed a different kind of economy.

An economy based not on the short-term, fast buck, take what you can. But on long-termism, patient investment, and responsibility shared by all.

Not an economy based on predatory behaviour. But productive behaviour.

Not an economy that works just for a powerful, privileged few But an economy that works for all working people”

And now, a little less than a year later, the Co-op bank is bust.

We, perhaps, shouldn’t be too harsh on young Miliband. After all, like much of our political class, he has very little idea of how things work beyond politics so it shouldn’t come as much of a surprise when he talks such obvious rubbish about non-political topics.

But we ought to ask ourselves a question; why do we give politicians so much power over things they don’t understand in the slightest?

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3 thoughts on “Ed Miliband on banking

  1. Pingback: Ed Miliband and Other Useless Mouths | nebraskaenergyobserver

  2. Why should not the Hampstead Red Ed be Prime Minister?

    After all the Community Organiser in Chief is President of the United States.

    People like Miliband and Obama do not corrupt nations – nations must already be corrupt for such people to get to high positions.

    After all our present government is hardly full of people with a lot of real world experience and/or lots of interesting ideas for rolling back the state.

    Do not believe establishment sources (such as the Economist magazine – yet more nonsense this week about how Osborne has reduced government spending). In reality government spending in the United Kingdom is some 49% of GDP.

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