The FT reports that senior executives at several of the largest US banks have privately told the Trump administration they feared the prospect of a Labour victory if Britain were forced into new elections.
It then referred to a report by analysts at Morgan Stanley arguing that a Corbyn government would mark the “most significant political shift in the UK” since Margaret Thatcher’s election and may represent a “bigger risk than Brexit” to the British economy. It predicted snap elections next year, arguing that the prospect of a return to the polls “is much more scary from an equity perspective than Brexit”.
Jeremy Corbyn gave ‘a clear response’ to Morgan Stanley in a video (left) published on social media reflecting anti-Wall Street rhetoric from some mainstream politicians in the US and Europe, saying: “These are the same speculators and gamblers who crashed our economy in 2008 . . . could anyone refute the headline claim that bankers are indeed glorified gamblers playing with the fate of our nation?”
He warned global banks that operate out of the City of London that he would indeed be a “threat” to their business if he became prime minister.
He singled out Morgan Stanley, the US investment bank, for particular criticism, arguing that James Gorman, its chief executive, was paying himself a salary of millions of pounds as ordinary British workers are “finding it harder to get by”.
Corbyn blamed the “greed” of the big banks and said the financial crisis they caused had led to a “crisis” in the public services: “because the Tories used the aftermath of the financial crisis to push through unnecessary and deeply damaging austerity”.
The FT points out that donors linked to Morgan Stanley had given £350,000 to the Tory party since 2006 and Philip Hammond, the chancellor, had met the bank four times, most recently in April 2017. The bank also had strong ties to New Labour: “Alistair Darling, a Labour chancellor until 2010, has served on the bank’s board since 2015. Jeremy Heywood, head of Britain’s civil service, was a managing director at Morgan Stanley, including as co-head of UK investment banking, before returning to public service in 2007”.
A step forward?
In a December article the FT pointed out that the UK lacks the kind of community banks or Sparkassen that are the bedrock of small business lending in many other countries adding: “When Labour’s John McDonnell, the shadow chancellor, calls for a network of regional banks, he is calling attention to a real issue”. And an FT reader commented, “The single most important ethos change required is this: publish everyone’s tax returns”:
- In Norway, you can walk into your local library or central council office and see how much tax your boss paid, how much tax your councillor paid, how much tax your politician paid.
- This means major tax avoidance, complex schemes, major offshoring, etc, is almost impossible, because it combines morality and social morals with ethics and taxation.
- We need to minimise this offshoring and tax avoidance; but the people in control of the information media flow, plus the politicians, rely on exactly these methods to increase their cash reserves.
But first give hope to many by electing a truly social democratic party.
Is the rainbow suggesting a new party logo?
Naushaben (second left) was amazed, not only by ‘the vast array of music on offer’ (the Foo Fighters, Rag’n’Bone Man and Katy Perry to name a few), but just how much politics was ‘happening – from the sand sculpture of Theresa May attempting to break through a field of wheat to David Beckham opening social housing in Pilton. Support and backing for Jeremy Corbyn was particularly evident – displayed in a manner usually reserved for A-list celebrities.
She continues: “With the crowd taking every opportunity to break out into a rendition of ‘Ohhh Jeremy Corbyn’ and thousands of festival-goers packing out the Pyramid Stage to watch the Labour leader address them, if there were any doubts after the general election of young people’s support for Jeremy, Glastonbury quickly dispelled them.
“And a year after the vote to leave the EU, a result that I have heard had left a sombre cloud over 2016’s festival, the mood had lifted. Brexit had woken up a generation, and this time the sun was shining and as Jeremy Corbyn took to the stage, there was a sense of hope in the air”.
Agreeing with Billy Bragg that the momentum Jeremy has started is exceptional, she adds that in order for it to continue on its trajectory we have make sure that people are not just ‘buying into’ an individual but also into the values and principles:
“Corbyn’s ability to articulate these in a meaningful and sincere manner is undoubtedly a part of his appeal, but we need to ensure that those who support us (many for the first time) also understand that these are the values at the very core of the Labour Party and it is our ability to deliver as a unified movement that will bring about real change”. (Below, Corbyn calling for unity at the Glastonbury festival)
Putting the Glastonbury phenomenon into perspective Naushaben reminds readers that this festival is known for its socialist roots and the founder, Michael Eavis, is a long-time Labour supporter, having stood as a parliamentary candidate in 1997. Festival-goers tend to be progressive and liberal in their views, with swathes of young people forming the crowds – the very people whom Jeremy has brought into the fold and the very people that helped to deliver exceptional wins in places such as Canterbury and Kensington.
She continues: “We would be naïve to not also consider our decline of support in some traditional working-class heartlands. Seats such as Mansfield recently lost to the Tories, which in the 1980s was the site of many clashes between the police and miners or areas of the South-East, like Medway and Gravesham, which were Labour held from 1997-2010 but once again, have returned Tory MPS with solid majorities. Wins in such areas will be crucial to gain the additional seats — more than sixty — to form a working- majority government . . . there should be an honest appraisal of our supporter base and how we bring back into the fold our traditional voter base while continuing to appeal to the next generation. And just like our election manifesto, the challenge is to ensure that our appeal remains for the many and not the few”.
Naushaben ends: “The task itself is not an impossible one. The world of politics is in a state of flux and the Tories are failing to offer any sense of real leadership, heading a government that is about as far from ‘strong and stable’ as you can get, underpinned by a loose deal with the DUP that could prove to be deeply damaging. It is clear they have no real vision for the country other than the relentless pursuit of power. There is a genuine opportunity for Labour to take the reins and one that we are close to grasping”.
Making Jeremy Corbyn the Prime Minister of the U.K. would do more for the world and everyone in it than either of the two available outcomes of any recent U.S. election could have done. Here in the U.S. I always protest that I am not against elections, I think we should have one some day. Well, now we have one — only it’s across the pond.
Corbyn’s record is no secret, and you don’t need me to tell you, but I have met him and spoken at events with him, and can assure you he’s legitimate. He’s been a dedicated leader of the peace movement right through his career. He had the decency last week to point out yet again that invading and bombing countries and overthrowing governments produces terrorism; it doesn’t somehow reduce it or eliminate it or “fight” it.
Britain is the key co-conspirator in U.S. wars. One real-life Love Actually refusal to bow before Emperor Donald, and the facade of super-hero law enforcement will begin to crumble, revealing a rogue serial killer standing naked in his golden hotel suite.
The world needs an actual popular elected response to U.S. aggression against the world’s poor and the earth’s climate. A ho-hum housebroken Frenchman who’s not a fascist isn’t the same thing. Corbyn supports successful Scandinavian socialism, demilitarization, environmental action, and aid to those in need. He works within the government and is held back by his party. But he doesn’t lie. He doesn’t sell out. He makes the case for wise and popular policies as powerfully as he’s able.
Want people to believe representative government is compatible with capitalism? Want well-behaved voters the world over to imagine that the corporate media can actually be overcome? Stop grasping at Congressional candidate gun-nuts who happen to be Democrats. Stop telling vicious lies about Russia in an attempt to travel back in time and cause a corporate militarist hack to win the White House. We actually have an election between an actually good candidate and one of the usual monstrosities we’ve become so used to.
Contact every young person you can who can vote in this election. Contact every possible organization and entertainer who might help spread the word. Get every Hollywood star who ever tried to rock the vote but didn’t have anyone to promote who people actually wanted to vote for to notice this golden opportunity. Telling young Brits to get out and vote for Jeremy will do more to spread democracy than destroying Syria, starving a million children in Yemen, or occupying Afghanistan for another 50 years.
Young people, sadly, have seen through our scams. They’ve heard us cry wolf too many times. Yet if you ask them who they would have voted for, they tell you the better candidate. Now here’s an actually great candidate, and their televisions are telling them that they are powerless to do anything. And they refuse to see through that scam. You have to help them see through it! You have to find somebody hip enough to help them! Young British people are our last hope, and it’s your job to encourage them.
We could have a world in which a leading wealthy “democracy” has a government that responds to majority opinion. We could have a world in which London says to Washington: “You want another war, we won’t help you pretend it’s legal. In fact, we’re drafting a brief for the prosecution and will see you in court.”
The people of the United States need that fig leaf torn away, need the pretense that mass murder is legal and necessary ended in our own minds. The peace, prosperity, sustainability, and friendship awaiting us is too much for us to even imagine. What might help us do it, what might make us believe that “hope” and “change” and other concepts we’ve almost come to despise could actually be possible would be making Jeremy Corbyn Prime Minister.
People in Iraq, Libya and Yemen are desperate for strong and stable government. Theresa May is partly why they don’t have it, says Steve Beauchampé.
Serious examination of Jeremy Corbyn’s activism shows him to have been on the right side of history and ahead of mainstream public opinion time and again, standing up for anti-racist and anti-apartheid causes, refugees and asylum seekers, gender equality, the LGBT community, environmental issues, animal rights and the rights of the Palestinian people to self-determination and self-expression long before such things gained widespread acceptance.
Corbyn’s attempts to achieve conflict resolution through dialogue with Irish republicans may at times have been naive, but were his actions so dissimilar to the approach adopted around the same time by MI5 and later by John Major, both of whom ultimately realised that a decades-old conflict, whose death toll was inexorably rising, could not be won solely by military means?
But whilst Jeremy Corbyn’s peripheral rôle in the republican cause has been (and continues to be) pored over and examined by his opponents half a lifetime later, the record and judgement of Theresa May with regard to much more recent UK military interventions requires equally forensic scrutiny given her claims to be a fit and proper person to lead Britain.
History’s judgement on this aspect of Theresa May is unlikely to be generous. After first being elected an MP in 1997, she voted in favour of the 2003 invasion of Iraq (having already supported the US-led invasion of Afghanistan in the frenzied post-9/11 atmosphere). Like so many of her colleagues on the opposition Conservative benches at the time, May failed to hold the Blair government to account despite the widely expressed caution of many experts over both the reasons for going to war and the lack of a post-conflict plan to stabilise Iraq. Instead, May limply and dutifully gave her support. What followed for Iraqis has been almost fifteen years of societal breakdown throughout large parts of this once architectural, cultural and scholastic gem of a nation, with swathes of land occupied until recently by Islamic State and a fracturing of the country along religious, sectarian and tribal lines in a way that will be hard, if not impossible, to heal.
By 2011, and as the then Home Secretary in the Conservative/Lib Dem coalition government, Theresa May backed the Anglo/Franco-led military action in Libya, which despite its billing as merely creating a no-fly zone to protect civilians and rebel fighters, mainly located in the east of the country, quickly escalated into regime change, culminating in the overthrow and lynching of Colonel Muammar Gaddafi. Again, as a senior government minister Theresa May ignored warnings that historic tribal divisions, the absence of a strong and stable government or a long-term strategic plan would quickly fracture the country. Six years on and Libya exists in little more than name only. There is no central government, armed militias and feudal warlords hold considerable power, whilst every international Islamist terror group of substance now boasts a flourishing branch office in the country from where they increasingly export their murderous ideologies. And every month, if not every week, scores of desperate migrants, people who long ago lost all control of their lives, drown off the Libyan coast whilst seeking something better than the hell that their lives have spiralled into.
Learning nothing from history and the consequences of her own actions, in August 2013 Theresa May supported Prime Minster David Cameron’s unsuccessful attempt to persuade MPs to back UK air strikes against the regime of Syrian President Bashar al-Assad. The absence yet again of a coherent post-conflict strategy was sufficient for Labour leader Ed Miliband to refuse his party’s support to Cameron, who narrowly lost a House of Commons vote on the issue. The main beneficiaries of such an intervention, with its intention to downgrade Assad’s military capabilities (if not to remove him from power), would likely have been the plethora of extremist groups engaged in the Syrian civil war, principal amongst them the then nascent Islamic State.
Since becoming Prime Minister Theresa May has continued the supply of British made weapons and military expertise to Saudi Arabia for use in its war crime-strewn bombing campaign in Yemen, a campaign which has killed countless numbers of civilians and is fast creating yet another failed state in the region.
Iraq, Libya and increasingly Yemen: countries where British military interventions have created power vacuums swiftly filled by a combination of anarchy, lawlessness, violence and economic depravation, with catastrophic consequences and relentless, unending misery for millions of civilians.
Theresa May supported each and every one of these military interventions. Jeremy Corbyn opposed all of them. So whose judgement would you trust?
May 29th 2017
Written for The BirminghamPress.com, to be online shortly. It Is also available here: https://politicalcleanup.wordpress.com/2017/05/29/general-election-2017-peace-policies-and-foreign-follies/
Corbyn well-wishers will have noted his increasingly effective performance on Prime Minister’s Questions and the enthusiastic crowds continuing to attend meetings held in different parts of the country.
Standing ovation at head teachers’ conference
“Enjoying life in the political trenches” (O’Grady)
A reader whose name I carelessly forgot to record, draws attention to an article by Sean O’Grady in the Independent. Amongst different poll results we read O’Grady’s reference to an earlier article recording Jeremy Corbyn’s party as rising by four points in the last week to 30% support (Opinium below).
A YouGov poll (below) between 27 and 28 April found that Labour was up two points to 31%; last week a YouGov poll gave the Tories a 23-point lead, showing that the Conservatives dropped by 10 points in the polls in the first week of the election campaign.
O’Grady believes that Mrs May is underestimating Jeremy Corbyn and “digging up old stuff” doesn’t matter much to the voters of 2017: “They already know he’s an old leftie. All it does is show he sticks to his guns and, in the case of talking to the IRA, he got there a decade before John Major and the Conservatives did. Man of Principle and all that”.
He says that the more exposure Corbyn and Farron have on TV, the more the voters will see that they are not the idiots the press tells them they are and adds that the Labour vote may well be more resilient in the North and London than May and her advisers thought: “London is firmly pro-EU and vast swaths of the North are still not convinced the Conservatives are for them. Across the country, poorer pensioners – still certain to vote – will not like what the Tories are telling them, or hinting, about the triple lock on the state pension . . . They need a responsive NHS too”.
May’s repetition of the “strong and stable leadership” phrase is also attracting derision, he notes – “a pretty silly soundbite” – and moves on to the subject of tactical voting:
“There are small signs of it now, especially among EU Remainers, and in the Green Party which is even standing down in some areas for Lib Dems or Labour. Ukippers are doing the same for the Tories, though some of their protest vote may just stay home next time. The net effect of all this is highly unpredictable, but tactical voting by Labour and Lib Dem supporters was one of things that punished the Tories so badly in 1997”. O’Grady thinks that “under first past the post it could leave the Conservatives at a net disadvantage. It will see Sir Vince Cable back in the Commons at any rate, and push the Tories’ hoped-for landslide back . . . The country doesn’t want one-party rule that doesn’t reflect or heal its divisions. May’s rhetoric goes against that grain and is alienating potential support”. O’Grady ends:
“(T)he Conservatives’ simplistic messages do not match the greater sophistication of the voters and the new media landscape. May and her shadowy PR advisers are just not as good at politics or as modern as Thatcher and Saatchi were back then. Maggie ran a Blitzkrieg campaign, her fast-moving tactics and policy arguments leaving her underprepared enemies foundering: Theresa is trying to do the same through an interminably dull trench war of attrition, lobbing the same old slogans across no mans land into the electoral mud, missing targets and doing little damage after the first bombardment. Her enemies have been given all the time they need to match her organisation and regroup, and they enjoy life in the political trenches”.
Nigel Nelson’s understated reaction to the polls: “If a week is a long time in politics then six weeks until the General Election is an eternity. And there is plenty of time to be surprised by the outcome”.
Diana Gangan is a journalism student and Investigations editor of Birmingham Eastside, a student-run news website, named runner up at the Guardian Student Media Awards 2015 in the category Best Student Website.
Lightly edited extracts from her article http://birminghameastside.com/2016/06/28/corbyn-must-stay-help-build-post-brexit-britain-always-envisaged follow:
Jez is still very much riding the wave of the ‘Corbynista’ movement as thousands of them showed their support at a rally in central London.
He stood up for his leadership position and has declared that pushing him out won’t be as easy as some right-wingers inside his party wish.
It feels like we’re back to square one, trying to open Blairites’ eyes not only to the insurmountable reality of Corbyn winning the leadership election with flying colours, but also to their infuriating refusal to understand that they are the very reason why their side lost.
Their lack of a radical, alternative vision for austerity Britain is to blame for Brexit.
But this is no time to pull the knives and Labour should know better than to throw tantrums. History won’t remember this as a Labour Party coup, but as an act of national betrayal, if the opposition doesn’t get a grip soon enough to help Britain ease in into its post-Brexit fate . . .
Except if the Blairites ‘fleeing the scenes’ are looking for a swift departure not in lights of their distrust in Corbyn’s campaign.
Maybe the answer is as simple as three words: the Chilcot report.
Unlike a Prime Minister stepping down because of ‘political incompatibilities’, Jeremy Corbyn is probably one of the fittest men to be part of the EU renegotiation process, if not even lead it.
By genuinely opposing the idea of the EU throughout his entire political career, Corbyn has a better vision of a post-Brexit Britain than Johnson or Gove.
A Daniel come to judgment? Felicity Arbuthnot draws our attention to an article by Tess Finch-Lees, who believes that the Corbyn coup wasn’t staged because Blairites don’t think Jeremy Corbyn could win the next election – it was because they fear he could. She continues:
“A Corbyn win would be an unequivocal endorsement of his progressive Labour and yet another outright rejection of Blair’s right wing New Labour/Thatcherite agenda.
“As chair of the Labour In campaign, Alan Johnson’s line up of pale, male and stale spokespeople failed to inspire.
“Producing the toxic trio though (Blair, Brown and Campbell), was the final nail in the coffin”.
Ten thousand people gathered in Parliament Square last Monday to show Corbyn their support. Amongst them were junior doctors, there to reciprocate the unequivocal support Corbyn showed them during their months of bullying by Jeremy Hunt.
The Blairites determined to oust Corbyn from the outset, even though:
- he won the leadership with a landslide victory;
- the membership rejected their right wing austerity agenda, which lost Labour the last election;
- and rejected the “Tory light” leadership candidates, who failed to vote against proposals to abolish binding child poverty targets, cutting child tax credits, employment allowance and housing benefit for young people.
Tess ends by saying: “When all Labour’s guns should be pointing at the industrial incompetence of the Tory wreckers, the Blairites are plotting to oust their own leader. Someone whom even they agree is an honourable, decent man. They want to replace him with a Teflon Tony or a PR Dave . . . If ever there was a time for principled leaders, like Jeremy Corbyn, it’s now”.
Read the whole article here:
- academy conversion,
- foundation hospitals,
- the Iraq war,
- tuition fees
- and detention measures,
Blairite MPs have offered their own warped form of ‘principled rebellion’ – airing their anti-Corbyn views in the press and decimating their party. This is not the sort of rebellion Corbyn ever stood for.
The Times reports that in Pienaar’s Politics Louise Haigh, a Shadow Cabinet office minister with an eye to the future, came to the fore, distancing herself from the Labour leader: “I would not have anything to do with Stop the War. I would have advised him not to [go],” she told Pienaar’s Politics on Radio 5 Live.
However, Richard Burgon, the shadow City minister (below right), commented that he thought Stop the War had “got it right” by marching against UK intervention in Iraq and Libya.
A for effort: Times rumour
There are ‘fears’ that Mr Corbyn could be preparing to have Ken Livingstone ennobled and ‘swept’ into his shadow cabinet. A spokesman for Mr Corbyn said: “There have been no discussions on peerages or names.”
However, despite the best efforts of media and politicians, support for Corbyn is increasing by clapometer standards – and some polls
On Bath’s Question Time TV programme, the audience enthusiastically applauded Jeremy Corbyn. When asked by presenter David Dimbleby whether “this audience is entirely supporting Jeremy Corbyn as leader of the Labour Party”, attendees at the weekly politics programme clapped and cheered enthusiastically.
Cambridge Professor of Classics, Mary Beard spoke for many. She said that Corbyn had behaved with a “considerable degree of dignity” against claims he faces a hostile media: “Quite a lot of what Corbyn says I agree with, and I rather like his different style of leadership. I like hearing argument not soundbites. If the Labour Party is going through a rough time, and I’m sure it is rough to be in there, it might actually all be to the good. He might be changing the party in a way that would make it easier for people like me to vote for.”
The thinking public showed their support at this and other events and only a minority of Labour members – 32% – supported airstrikes against ISIS in Syria and only 30% of members and supporters told YouGov in a survey of LabourList readers that they support airstrikes. Corbyn’s approval ratings among Labour voters, including those who are not members of registered supporters, is at 56%.
As Liam Young says, “It’s time to get real. Jeremy’s performance during the last PMQs was powerful and statesmanlike and it is important to remember that he is the chosen leader, having taken more than 60% of the votes in leadership elections. With his clear principles, he is the total opposite of Cameron’s hot air. Each PMQs session goes further towards proving that to the British public”.