Leila's blog

Mon, Nov 19, 2007

Between a Rock and a harpoon

There's not a lot I can add to the various comments and opinion already on offer about the Northern Rock debacle. As always it is the entire notion behind financing that hasn't been given enough consideration. That is why there is surprise and anger that humans trying to make judgements about the best way to make money in the globalised markets muck up, and then why government intervention also doesn't do much to salvage the situation. How can the Government bargain effectively when the very companies that they wish to buy Northern Rock have turnovers of a similar scale to most nations, and whilst these companies might be gambling with their profit margins our government is spending taxpayers money that could be benefiting millions in the UK. Whatever the outcome many people will be left unhappy and quite possibly it will be the average taxpayer who hadn't even heard of Northern Rock six months ago. The lesson that I think has to come out of this is that the entire notion of markets and stock exchanges where billions, trillions, in pension funds and savings are gambled daily only genuinely benefit the very few.

The Chief Constable of my local police force has resigned amid allegations of financial misconduct and use of the police database for private research. Our local AM Nick Bourne comments that few people within the area would complain about the local policing. I think he hasn't met many of the people I know. Dyfed Powys police are well known locally for having an over-zealous approach to drug offences. Whilst it is only right that dealers in heroin, cocaine and suchlike are found and prosecuted they have continued to arrest and charge those found with small quantities of cannabis after it was downgraded to Class C. Whatever your beliefs about cannabis, the purpose of downgrading was in part to free up police time and resources. Similarly I am not sure the local force can be credited with low crime levels. This is a low crime area because it has an ageing population and no huge disparities in wealth. What's more there are few places with high levels of deprivation, which are often associated with high crime rates. So, I am happy to see him depart and hope his replacement may take a firm stand on the crime that really affects those around here - speeding, drunks, and petty theft.

p.s Apologies I had a fact wrong in my last blog - I wrote about the fresh hunt for Minke Whales, but the Japanese whalers are also planning to catch up to 50 Humpback whales and they are the ones most critically endangered.

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