Both Bradford & Bingley and Northern Rock must be turned back into mutual building societies, with that status, on their part and on that of every other such society, given cast-iron statutory protection. As an ultimate objective, this should be the case for all the banks, which one by one seem to be in a position to be bought up by the State for that purpose.
Meanwhile, away with Cameron's scheme to "take the politics out" of this area by mean sof soem new committee or other. Already, thanks to Brown and cheered on by Cameron, the electorate, as such, actually cannot even care about interest rates, even though the public certainly does. Brown and Cameron have both expressed the desire to do the same thing to health policy, once again reversing one of Labour greatest democratising achievements. And now this.
With no say over either monetary policy or health policy, nor any over the regulation of financial services, what will politicians be for? There will still be education, and transport, and policing, and social security, and foreign policy, and defence, and a host of other matters. But for how much longer? The precedent will be well and truly set. Parliament will go the way of local councils, except voluntarily.
Don't let it happen.
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