The Guardian’s Simon Jenkins asks………

What motivated those in charge of Britain’s financial policy? Why were they so obsessed with saving bankers and nobody else?

Why did the government not support demand when the economy entered recession? Why did it bail out banks and car firms but not Woolworths, white goods, the DIY sector, hair salons, hotels, restaurants – anywhere that kept people in work? Why did it not give money to pensioners and the poor, who for sure would not do what banks do and merely save?

Students of the Watergate school of journalism were taught one lesson: “Just follow the money.” It was Deep Throat’s one message to the Washington Post reporters from the depths of his underground car park. I have long followed this maxim, especially since first trying to understand the credit crunch last year.

What motivated those in charge of Britain’s financial policy? Why were they so obsessed with saving bankers and nobody else?

The answer must lie in their personal circumstance. Those advising Brown and Darling in Downing Street, such as Lord Myners, Lady Vadera, Lord Turner and John Kingman, were all past or present bankers, or friends of bankers. When they leave public life they are likely to work for a bank.

Full article in The Guardian: here