Saturday, September 20, 2008

Tory Shadow Chancellor - "the function of capitalism is making money out of the misery of others"


I have paraphrased Osborne there. His actual words, in the Financial Times, were:

"The development has left the opposition party on the backfoot, as City regulation becomes a new political dividing line. "No one takes pleasure from people making money out of the misery of others but that is a function of capitalist markets," Mr Osborne said.

Alan Duncan, the shadow business secretary, rejected Lib Dem assertions the Conservative stance was linked to the substantial funding the party has received from hedge fund operators.

"The suggestion our thinking is influenced by the origin of party funding is cheap and silly," Mr Duncan told the FT. "Vince Cable talks total tosh about speculators . . . Every buyer has a willing seller and every seller has a willing buyer - that's a market."

This has already been covered by several people far better than I could. Osborne is scum.

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