I cannot disagree with that. If just a few of the voters an incumbent government feel they rely on questioned policies occasionally, it is usually the key to intervention.

However, international business and banking is a bit of a weird one, in that a national government has about as much sway as a parish council has in UK tax policy. Any government has to walk the tightrope between attracting inward investment and stopping them taking the piss.

Many say the government are not doing enough whilst those concerned feel they are doing too much. Gordon Brown, for all his faults did at least try to harness them in with the rest of the G8 in a feasible act of "kick 'em whilst they are down." But you know what happened?

If the G8 countries got tough, the G9 to 15 or so were ready to embrace them and their investment potential with open arms.

I don't know what the answer is, but I do know that in order to flourish, they need markets. For that, they need consumers. Sadly, their social safety net, (sub prime loans etc) is to be condemned, but the more you think about it, the more it mirrors the safety net of national governments.

If you want a social program, it needs paying for. The Adam Smith XI have won the test series and The Karl Marx All Stars go into the final test playing for pride. We pay for it through taxes and as much as anybody hates to hear it, 99.8% of the population have to work on the principle of the more you earn the more taxes you pay. That's why although I abhor the principle of huge bonuses for bankers I accept that it is the quickest most effective way to plough bank profits back to the treasury. If it didn't appear on pay cheques, it would appear off shore in the banks' overseas operations. Also, the government stake is not "bought back" and that is still to happen, bringing funds back into the treasury, (and in the process demonstrating why I for one cannot understand the need for short term austerity when an economic upturn would mean the bailout loans being recalled quicker.) Real Politik tastes bitter but when there is nothing left to drink...