Robert Peston: Who Runs Britain?

BBC’s business editor Robert Peston has become the “face of the credit crunch”. He presented his book Who runs Britain? at the LSE on Nov 17, 2008, as part of POLIS – Journalism and Society and I gave him an envelope with our documents. May his mantra “debt, debt, debt” resonate with our insights into the devastating developments of the national debt.

His book has the following chapters:

Chapter 1: Too much money

Chapter 2: The Elixir of borrowed money

  • The new Rock and Roll
  • Creature of the Age
  • Two and Twenty equals fabulous riches
  • Cleaning Up
  • Private Equity’s Gain is our Pain
  • Pension funds are wimps
  • The Fleecing of the Government
  • We are all subsidizing private equity
  • Brown hearts private equity
  • Too successful for their and our good
  • Top profits from the Bottom Shop

Chapter 3: The King of Jackpot Capitalism

Chapter 4: Marks & Spencer and the new Establishment

Chapter 5: Poison Manufacturers

  • Loans for liars
  • A question of trust
  • We have been expecting the wrong kind of crisis

Chapter 6: Super-Rich, Super-Capitalists

  • Invasion and assimilation
  • A state within a state
  • Brain drain
  • Offshore paradise
  • The new old City
  • How to earn a billion a year
  • Why banks love hedge funds
  • Hedge funds touch everyone
  • Better to receive than to give
  • But hedge funds are better proprietors

Chapter 7: Who Stole our Pensions?

Chapter 8: Democracy for Sale

Chapter 9: Allan Leighton: a Different Kind of Public Servant

Chapter 10: Who runs Britain?

He said “you’ll have to read the book to get the answer”. And I agree. It is worth reading to match our understanding of the national debt, as the main mechanism of the money supply, with his knowledge of the plutocrats, the uber-capitalists and the super-rich who don’t consider it their obligation to pay taxes…


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