They’re all afraid of/in the pockets of the banks

Two important decisions this week should have showed us that our government is powerless against the vested interests of the banks. Firstly, there was Boy Liar George’s ludicrous Project Merlin, which gave the banks what they wanted in return for some vague promises about slightly increased lending, which would have happened anyway as the country crawled out of recession. Then came the useless Bank of England’s decision not to raise interest rates because they were afraid this would lead to the banks putting up mortgage rates. But over the last few years of historically low interest rates, the main banks have tripled their profit margins on mortgages. So, if the worthless, self-serving, greedy buffoon Mervyn King and his mates were to raise interest rates to 1%, there is absolutely no need for mortgage rates to go up. The government could easily have put pressure on the main banks to hold interest rates.

But that would require politicians that weren’t afraid of/in the pockets of the big banks. Unfortunately, our greedy political pygmies like liars Cameron and Osborne do what the banks tell them. So much for democracy.