Alastair Darling Is Right- Sign Of The End Times?

He certainly seems more right than either the Obama administration or George Osborne:

“It is always difficult to say ex ante that you would never intervene to save a particular sort of bank,” he said. “In Lehman, for example, there wasn’t a single retail deposit, but the then American administration allowed it to go down and that brought the rest of the system down on the back of it.

“You could end up dividing institutions and making them separate legal entities but that isn’t the point. The point is the connectivity between them in relation to their financial transactions.

“Equally, the large-small thing doesn’t run. Northern Rock was very small in global terms but systemically it was quite important when it got into trouble.”

Breaking up banks into smaller entities isn't going to prevent one bank collapse destabilising the rest. If small banks were the solution to economic stability then the Great Depression with it's unit banking laws and a separation of commercial and investment banking ought to have been a golden age, which as the term "Great Depression" it really was not.

The Undead.

Darling: I Can't Rewrite Budget.

Well obviously not, because that implies that he wrote the original budget himself. I've got a theory that Alastair Darling is actually a ghost and therefore cannot touch anything so he can't hold a pen or touch a keyboard in any case. It was when the cameras filmed him walking along Downing Street on Budget day that I noticed how he just appears to glide down the street making no contact with either the ground or his colleagues, in short he appears to be insubstantial and incapable of making an impression on anyone. It is likely that he is unaware that he's been dead for a couple of centuries.

One of his ex colleagues who could never be accused of being incorporeal is John Prescott who made the hilarious shocking revelation at the weekend that he had been bulimic when he was Deputy Prime minister. Actually he suffered from Bulimia by proxy, a rare condition in which the sufferer stuffs his face and makes the rest of us throw up.

I Don't Get It.

This data protection scandal has left me confused about even more things than usual. First of all why is it Alastair Darling who is being blamed when the lax security procedures were clearly in place before he took over, shouldn't the blame be laid at the feet of Gordon Brown? Secondly why on earth did the government lie and claim that the disks were sent by a junior official rather than a senior official as appears to be the case? Surely if junior staff members had easy access to the personal details and bank details of 25 million people as a matter of routine then that is even worse than a one off blunder by a senior official.