Wednesday, 12 January 2011 10:23 Cllr Muhammed Butt

Bankers get away with it

Nick Clegg talked of how the bankers are living in a ‘parallel universe’ if they think they can get away with massive bonuses.

Now, as the bankers prepare to get away with massive bonuses, it is Mr Clegg who appears to be living in a parallel universe.

The raising of the white flag to the bankers as another issue on which much political gain was made when it had to be, and now nothing is being done. Promise made. Promise broken.

And how revealing was it when Bob Diamond of Barclays revealed to the Treasury select committee yesterday the number of times David Cameron and George Osborne had asked him to show pay restraint … a big fat zero. So for all the tough public talk by Osborne in particular, it was all sweetness and light behind closed doors, a signal the bankers have clearly taken with relish.

Now Clegg says he has to show more distance from the Tories. This looks to me like a tactic in search of a strategy.

A strategy of a failing coalition and realising that being in control is a responsibility that needs nerve,determination and foremost a vision that is achievable and throwing rocks from the side lines is easier as you have no responsibility for what you say.

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