Home > Economy, Great Britain, Labour Party, POLITICS > Comments on the Week’s News.

Comments on the Week’s News.

Yesterday’s news  of a cabinet reshuffle was stunning: the reintroduction of Peter Mandelson into the Cabinet to heaqd the Department for Business, Enterprize & Regulatory Reform  was a master stroke. Now we have a government that means to increase action to deal with the economic crisis, this and Margaret Beckett’s retun is welcome and the broad reworking of cabinet posts was a wise decision. We hope that Peter will be not be naughty.

The US House of Representatives has made its decision now to support the Economic Stabilization Bill, it remains to be seen if the bankers bailout will work to head of an even worse economic crisis.  Perhaps it was unfortunate that the crisis coincided with elections for the House, which clearly panicked many of its sitting members. 

Boris Johnson was wrong to force the resignation of Sir Ian Blair and there needs to be a response to clarify the methods of hiring and firing of police chiefs in the Metropolitan Police, as Boris has made an unwelcome precedent.

Great Britain’s finance houses are strangely holding back mortgage packs behaving as if a kartel existed. The denial or restriction of mortgages is a prime cause of house price falls and this is artificial due to the shortage of housing in the country as a whole. There are plenty of potential buyers but they cannot get decent mortgage or remortgage offers.

US Presidential candidate Barak Obama is still ahead in the polls and looks set to win the presidential election but it’s still early days and as we know a lot can happen between now and early November.

The Tory party conference turned out to be predictably boring and its principal leader even more boring and even more shallow than can be imagined.  Hopefully, the lead in the polls they have gained will whither away and Labour will bounce back.

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