The will to govern shows signs of life | Politics | The Guardian
My working assumption is that the political class – and, alas, elements within the law and order agencies – have slowly been bent to the will of the moneyed elite, not least via the media branch of that elite, in the 40 years since the war-hardened generation that made the postwar settlement began fading away and the free-market crowd staged a cyclical revival.
It’s not cut and dried and the battle goes on in different forms, as it always does. But when I see top taxmen at HMRC cutting private deals on tax bill owed by big corporations I feel as I sometimes do when ministers tell us (because officials have told them) that it’s jolly hard to bear down on wealthy non-domiciles who enjoy living here but avoid their share of tax.
Many of these issues exist in an acute form in the plutocratic US – the age of the Victorian robber baron is back – and so do some of the more visible remedies. Since 2009 the federal authorities in New York have prosecuted 66 people for insider trading, mostly arising from the collapse of Wall St, and got 57 convictions or guilty pleas. The FSA in London has a long way to go.