Phone-hacking, LIBOR, PFI – all Tory-New Labour legacies

July 6th, 2012

In Ancient Eypt we are told there were 7 fat years, then 7 thin years.   Not much has changed.   For a decade we had the arrogant swagger of the New Labour hegemony seemingly carrying all before it, but actually pitted with lies (the Iraq war), deceit (the ubiquitous culture of spin), prostration before power  (Blair’s cuddling up to Murdoch), adulation of the City (regulation-lite leading to the Great Crash and today’s interest-rate fixing), worship of wealth (Mandelson’s immortal “New Labour intensely relaxed about people beoming filthy rich”).   And now another colossal Tory-New Labour scam – PFI – is coming home to roost, big time.   The collapse of the South London Healthcare NHS Trust is just the harbinger of a whole cascade of hugely costly failures coming home to roost. (more…)