Politicians' limitations have been laid bare during these tumultuous weeks. If ever they can assert strength, it is now
Jonathan Freedland
The Guardian, Wednesday October 8 2008
".....Now that impotence is on clear display and it is spreading alarm around the world. For people desperately want someone to get a grip. The left has been warning for years that corporations now enjoy more power than nation states, but never has it been clearer than it is now. The realisation is dawning that this is not just a financial or economic crisis, but a democratic crisis - the people and their representatives have little or no control over what affects them directly.
The solution is surely for governments to realise that if they are weak, the high priests of high finance are even weaker. The politicians should provide the help the banks need, but with the tightest of strings attached, regulating finance so closely that it can never again gorge itself the way it has these past few years.
Democracy has to assert itself once more - and tame this beast."
Jonathan Freedland
The Guardian, Wednesday October 8 2008
".....Now that impotence is on clear display and it is spreading alarm around the world. For people desperately want someone to get a grip. The left has been warning for years that corporations now enjoy more power than nation states, but never has it been clearer than it is now. The realisation is dawning that this is not just a financial or economic crisis, but a democratic crisis - the people and their representatives have little or no control over what affects them directly.
The solution is surely for governments to realise that if they are weak, the high priests of high finance are even weaker. The politicians should provide the help the banks need, but with the tightest of strings attached, regulating finance so closely that it can never again gorge itself the way it has these past few years.
Democracy has to assert itself once more - and tame this beast."
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