Monday, 12 September 2011

Trade Unionists Reverting To Racist Instincts

This article explains how trades unionist leaders are exhibiting primitive racist tribalism when blaming bankers for the economic crisis.

It is only too often we hear how the Trades Unionists blame 'the Bankers' for the economic problems. They say it was the bankers' "wreckless misuse of investors' money" that brought about the crisis and that they should be held accountable for this. It is interesting how they consistently omit to apportion blame on the policymakers responsible for the provision of easy credit within the financial system.

What they don't tell you is that subprime lending is an invention of governments and not bankers. The creation of Fannie Mae and Freddie Mac guaranteed $1.4 trillion, or 40%, of all U.S. mortgages. Gordon Brown was so quick to blame the outside factors for the crisis. He was complicit in the encouragement of unregulated generosity of credit and didn't have the sense to understand that this would all end in tears. It was all going too well for him. The bankers, like anyone else, behaved in a way that most people would do in a job if they have the opportunity to do it. It's a bit like blaming your daughter for buying an overly expensive dress with your credit card if you haven't set a budget limit.

It will be remembered that the workers' unions in pre-war Germany also blamed "the bankers" for the German economic crisis. At that time the distinction between bankers and Jews was blurred. Nevertheless, the natural end result was the development of hatred and eventually racism and attempted genocide. Jews historically were placed in a position of money lending because it was deemed immoral that a Christian should profit from the interest. This provided no end of racist opportunities for criticism by those who otherwise should have appreciated the services of Jews for the purposes of enterprise.

I will not however engage in puerile comparisons of individuals to famous Nazi leaders in the same way that Ken Livingstone is happy to do. I do not personally believe that Len McCluskey wishes the extermination of 6 million bankers in concentration camps. I do however see this blame culture to arise from an instinct in those who view the 'workers' in a tribal sense in the same way that encouraged the development of anti-Jewish racism in pre-war Germany.

The Trades Unionists need to have a little more understanding of the political background to the financial crisis and how their tendency toward hatred and blame mirrors the tribal instincts that led to hatred and racism in Nazi Germany.

1 comment:

  1. Oh please, you are really stretching the elastic to the point of breaking. A Labour government lifts restraint on bankers as bankers know best, they cock it up and suddenly it's Gordon to blame as they didn't know a bad loan when they saw one in their greed to get rich. Anyone venturing such a criticism is to be compared with the Nazis who, when it suited them, blurred bankers with the Jewish community they, the Nazis, so despised. Great logic, old boy. Not with you on this one.

    All the best,