Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-326"
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"en.20081118.29.2-326"2
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"Madam President, a number of speakers here – including my colleague, Brian Crowley, from Ireland – have blamed the bankers for acting like bankers, maximising short-term profits to the limits of the law. This crisis was allowed to develop because governments everywhere abandoned their responsibility to sufficiently govern the economy, including banks. Most of those in power have ignored history and accepted the ideological mumbo-jumbo which we have just heard now from the last three speakers that the market is a self-balancing natural phenomenon and government has no role in interfering with it.
The fact is that Adam Smith’s invisible hand is a pickpocket. The pockets that are being picked are the pockets of working people who are losing their jobs, families who are losing their homes, and those who are poor already and who are losing their savings and pensions. It is not bankers and right-wing politicians who are losing. This will happen again unless we clearly define a new economic framework which enables us to ensure that banks and industries serve society and enable governments to govern in the public interest."@en1
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The resource appears as object in 2 triples