Clusterfuck To The Poor House

And we kissed, as though nothing could fall

Not for the first time, the Minister finds himself cast adrift.

A solitary man.

I am a rock.

I am, indeed, an island.

For while critics, audiences and judging panels the length and breadth of the (western) world can’t get enough of Slumdog Millionaire, I sat through it on Saturday afternoon wondering when the Oscar-worthy film would begin.

The Minister’s Wife thought it was wonderful.

Everyone seems to think it’s wonderful.

The Minister, though, thinks it’s a poorly-plotted, badly-scripted, erratically-acted drone through an over-familiar story that has been photographed by someone with a pronounced tremor, lit by someone with cataracts and edited by someone with ADD.

The Minister contends that had this movie been set anywhere “conventional” it would have been met with the same criticism that was thrown at Baz Luhrmann’s William Shakespeare’s Romeo + Juliet – ie that Danny Boyle has taken a hackneyed and melodramatic story and added layer upon layer of loud music, bright lights and overenthusiastic editing to create something less than the sum of its parts in a desperate attempt to appeal to the groovy hipster cats.

It didn’t help that I saw it while under the weather and it didn’t help that I saw it in a multiplex screen whose front tweeter speaker wasn’t working, so some parts of the dialogue were muddied and flat.  But even putting that to one side, I just didn’t like the movie, didn’t connect with any of the characters, felt the child actors were – how shall I put this kindly? – not very good and sat there for two hours thinking that I could be doing something far more constructive like taking painkillers and sleeping.

(At this stage I should add that we saw Frost/Nixon before Slumdog Millionaire and, while it was a little stagey – inevitably – and made one wonder when Michael Sheen is going to play roles that don’t involve watching old videos, I thought it a fine all-round piece of film-making.)

On the whole, I like Danny Boyle.  I really like 28 Days LaterShallow Grave and Trainspotting are good movies.  Millions is solid enough, though a little preachy.  I even quite like (small) parts of A Life Less Ordinary and The Beach.  (I haven’t seen Sunshine.)

Part of Boyle’s appeal to me is that the plots of most of those movies have some quirk or hook that make them at least a little bit different from so much of the dross piped by Hollywood into our eyeballs.  For me, Slumdog Millionaire falls flat because there is no such quirk or hook other than the location of the story.

If an Indian movie depicted poverty and the underclass in Britain in the same way that Boyle depicts Mumbai, the Daily Mail would be demanding the director’s extradition and questions in the House.

(And, while I don’t wish to suggest that parts of our towns and cities have anything like the grinding poverty of the developing world, let’s not forget that hundreds of thousands of children in the world’s fifth richest Clusterfuck To The Poor House nevertheless still grow up in what equates with the United Nations’ definition of “poverty”.)

The Daily Express would accuse the film of glamourising a culture of violence and gang warfare.

The Sun might notice that the poor aspire to subsistence and that wealth is a dream for other, more affluent people.  (It would, however, illustrate the point with a photograph of a young woman’s breasts.)

The Daily Telegraph would take glee in pointing out that gambling is a vice, not an aspiration, and that intellect, education, application and creativity are more reliable ways of earning a living than taking part in game shows.  It would accuse the film-makers of displaying shocking naivety in the face of a massively complicated problem.

Boyle’s heart is undoubtedly in the right place – the Minister’s Wife, usually a fairly reliable source, assures me that the child actors will receive an education and the benefit of a trust fund as a result of their participation in the movie – but the Slumdog Millionaire, I contend, wears the Emperor’s new clothes.

Not for the first time, style has prevailed over substance and the Minister is nonplussed.

The sound of one hand clapping

Oh, I say.  This all sounds rather promising.

There must be profound changes in the banking system if a repeat of the current crisis is to be avoided, the Financial Services Authority has said.

Lord Turner, head of the City watchdog, said parts of the regulatory system were “seriously deficient”.

He said bankers, regulators, central banks, finance ministers and academics across the world shared the blame for failing to identify the risks which had been building in the financial system for a number of years.

“The changes which we need to make to create a sounder system for the future will be profound,” he said.  “Central banks and regulators between them need to… identify the combination of measures which can take away the punchbowl before the party gets out of hand.”

Excellent.  Splendid news.  Ministerial endorsements all round.

How nice to know we now live in an era of close co-operation between Lord Adair’s newly vigilant Financial Services Authority, the Bank of England and Arrivederci’s Army.

Ah…

A rift has opened up between the government and the financial authorities after a furious Alistair Darling was kept in the dark over the lifting of the ban on short-selling, which may have contributed to this week’s tumultuous crash in the value of banking shares.

The chancellor is thought to have been given just one hour’s notice by the Financial Services Authority that hedge funds would once again be able to place bets that bank shares would fall. Darling believes the ban will have to be reintroduced, given the fragility of the financial system.

Shares in high street banks have crashed since the ban was removed at the end of last week.

The short notice given to the chancellor about the announcement of the change in FSA policy two weeks ago demonstrates the ideological differences between the authorities involved in regulating the financial system. The problems were first highlighted during the Northern Rock collapse, when the so-called tripartite authorities – the FSA, the Treasury and the Bank of England – had difficulty agreeing a strategy for the lender.

While Darling has no authority to tell the FSA what to do, it is believed he strongly advised it not to lift the ban.

According to Treasury sources, when Darling inquired why he only been given 60 minutes’ notice, he was told it was an oversight.

Well done, everybody.  Bravo!  Take a bow.

When you see a crowd I see a flock

I knew I liked Barry for some reason.

If the Obama campaign represented a sleek, new iPhone kind of future, the first day of the Obama administration looked more like the rotary-dial past.

Two years after launching the most technologically savvy presidential campaign in history, Obama officials ran smack into the constraints of the federal bureaucracy yesterday, encountering a jumble of disconnected phone lines, old computer software, and security regulations forbidding outside e-mail accounts.

“It is kind of like going from an Xbox to an Atari,” Obama spokesman Bill Burton said of his new digs.

One member of the White House new-media team came to work on Tuesday, right after the swearing-in ceremony, only to discover that it was impossible to know which programs could be updated, or even which computers could be used for which purposes. The team members, accustomed to working on Macintoshes, found computers outfitted with six-year-old versions of Microsoft software. 

The Minister has been under the weather these past few days and still stands shoulder to shoulder with Jeffrey Bernard.  It has meant I have not fully enveloped myself in the inauguration in quite the way I had hoped, but isn’t it just absolutely fucking fantastic to wake up in a morning knowing that, at long last, those unspeakable cunts are no longer in charge?

Anyway, brace yourselves, chaps: the Clusterfuck officially begins tomorrow.

£90k a year to become Legislative Drafter for the Falkland Islands?

Seriously – it’s got to be worth considering at the moment.

Curate’s Egg

Chapter One

So this is very good news:

An atheist UK bus campaign which uses the slogan “There’s probably no God” does not breach the advertising code, a watchdog has ruled.

The Advertising Standards Authority said it assessed 326 complaints. Some claimed the wording was offensive to people who followed a religion.

But the body concluded the adverts were unlikely to mislead or cause widespread offence and closed the case.

HAHAHAHAHA, ALPHA COURSE DRONES!!!

Chapter Two

And this is very good news:

Ministers have shelved plans to exempt MPs’ expenses details from the Freedom of Information Act, after the Tories and Lib Dems said they would fight it.

Prime Minister Gordon Brown said the government had thought it had cross-party agreement but would now “continue to consult on the matter”.

Campaigners said it was a victory for “people power” after a web protest.

The Conservatives accused ministers of a “U-turn” while the Lib Dems said it was a “humiliating climbdown”.

MPs were due to vote on Thursday on plans to exempt their expenses from the Freedom of Information (FOI) Act.

Well, well, well.  Perhaps Arrivederci Gordon listened to Barry’s inauguaration address?

Those of us who manage the public’s dollars will be held to account – to spend wisely, reform bad habits and do our business in the light of day – because only then can we restore the vital trust between a people and their government.

What’s that?  Oh…

Labour MPs were to be ordered to vote through the changes, while the Tories and Lib Dems said they would instruct their MPs to vote against them.

Mr Brown was challenged about it by two Tory backbenchers at prime minister’s questions who asked why there “should there be one law for the people and another for politicians”.

At the start of PMQs Mr Brown told MPs there would be a free vote on the matter.

He said: “We thought we had agreement on the Freedom of Information Act as part of this wider package.”

“Recently that support that we believed we had from the main opposition party was withdrawn. On this particular matter, I believe all-party support is important and we will continue to consult on that matter.”

But less than an hour later the government said the plan would be shelved.

The Minister’s Parliamentary representative, one of the New Labour Cannon Fodder and a man I am sure I have slated before, had written in Sunday’s local newspaper about this vote before it was announced that Arrivederci had – to use the phrase du jour – “bottled it”.

MPs expenses are published annually and can be viewed by anyone on the web. The proposal considered this Thursday will improve this system and result in more detailed information being published, for instance, not just the overall cost of a London flat, but the amounts claimed for furniture etc. The proposals also close a dangerous loophole arising from the Freedom of Information judgement last year which would have resulted in wide availability of the addresses of MP’s London accommodation. This would have been helpful information for burglars, terrorists and nutters and I believe that it is sensible to withhold such details. What will not be withheld is the amount of money claimed. I am very much in support of clear information being made available so that my constituents can judge for themselves how I use the legitimate expenses of doing my job.

So now we know.  It’s all about nutters.

How very true that is, albeit in a manner my honourable friend perhaps did not anticipate.

Chapter Three

But this is a big, steaming crock of shit.

Britain’s train operators face a “potentially devastating” blow from the economic downturn and need government assistance to stave off disaster, public transport chiefs warned ministers yesterday.

The heads of the five largest train companies – Stagecoach, National Express, Go-Ahead, Arriva and FirstGroup – urged the transport secretary, Geoff Hoon, to consider shortening trains, rewriting the financial terms of franchise agreements and putting up state funding for an extra 1,000 staff across the rail network.

The unprecedented call for state help came in a meeting with Hoon in which the rail operators warned that rail contracts forged during an economic boom could soon become untenable.

Few things annoy the Minister more than the grasping scumballs who trouser massive public subsidies to run the “privatised” railways, while fleecing rail passsengers for every last brass farthing they possess, before announcing massive profits, paying out millions in dividends and awarding themselves huge bonusses for getting a packed train 100 miles in more time than it used to take when things ran on steam.

The very fattest of cats, next to whom Garfield stands in order to look slimmer.

While I would gladly throttle numpties like Sir Fred Goodwin and Sir Win Bischoff until just before the moment they expire, I am not sure I would let go quite so soon where the Chairmen and CEOs of “rail franchise operators” are concerned.

Given the staggering amount of tax I already pay, and the Godknowshowmuch amount of tax I am going to have to pay in the future to fund the current fashion of “£20 billion here, £30 billion there”, if a single penny more goes to this bunch of Chancers I might just go into meltdown.

Right Said Fred

The 52-week high for the Royal Bank Of Scotland share price was 427.50 pence, reached in February 2008.  (The share’s all-time high of 649 pence was reached as recently as May 2007.)

The Royal Bank Of Scotland share price closed today at 14 pence, 97% lower than its 52-week peak, the Bank having warned the City to brace itself for a £28 billion loss this year.

That’s £28 billion.

In one year.

According to International Monetary Fund statistics, the Royal Bank Of Scotland will lose more money in financial year 2008-9 than the entire country of Serbia made in the whole of calendar year 2007.

Or Bulgaria.

Or Tunisia.

Or major oil exporter Oman.

Sir Fred Goodwin, the man who led the Royal Bank Of Scotland off this cliff, remains the chairman of The Prince’s Trust, a charity one of whose main aims is is to help young people start a business.

Really, I don’t know whether to laugh or cry.

The Best Things In Life Are Free

It’s shaping up to be another bad year for Gordon Brown.

Cast your minds back six weeks – to 10 December 2008 – with a little help from Hansard:

The Prime Minister:  The first point of recapitalisation was to save banks that would otherwise have collapsed. We not only saved the world— [ Laughter. ]—saved the banks and led the way— [ Interruption. ] We not only saved the banks— [ Interruption. ]

Mr. Speaker: Order.

The Prime Minister: Not only did we work with other countries to save the world’s banking— [ Interruption. ] Not only did we work with other countries to save the world’s banking system, but not one depositor actually lost any money in Britain. That is the first thing. The second thing is to get the banks into a position in which they can resume lending, and that is why interest rates have come down by 3.5 per cent.—something that the Opposition said was not possible, but which actually happened.

Fast forward to this morning, 19 January 2009:

Alistair Darling today insisted he was right to use hundreds of billions of taxpayers’ money in a fresh bail-out of the banking sector, saying the recession would be much worse if he did not act.

“If the banking system collapses, every single one of us would see the obvious problems. The economy would come down with it,” he told the BBC. “The cost of not doing anything would be far, far greater. If we don’t get lending going, the recession will be longer, deeper and more painful”.

So, regardless of whether or not Arrivederci Gordon saved the world, he definitely saved the banking system.  He repeated the fact five times.  And, to boot, he said that he’d done what was needed to put the banks in the position where they can resume lending.

Not spinning, not selectively editing – these are The Great Man’s own unexpurgated words.

If he was confident enough to declare that he had saved the banking system 40 days ago, why is the banking system now in danger of collapse?  If the banks were in a position to resume lending 40 days ago, why is Captain Darling desperately trying to “get lending going” now?

Arrivederci Gordon’s marginal recovery in the opinion polls in the six weeks before Christmas had two causes.

First, there is no doubt that things steadied a little after the initial mania of the autumn and things seemed to be on a more even keel for a while.

Second, the recession did not then feel entirely real to the average punter on the street.  In terms of employment, the most important thing where Joe Bloggs is concerned, the pre-Christmas recession was only really affecting investment bankers.  Now, things have moved onto a much more traditional recessionary footing – it’s shop workers and the final few remaining in Britain’s car factories that are being hit with P45s.

Everyone feels gloomy after the new year parties and the return to work.  It’s cold, it’s dark, it’s wet, it’s windy, we’re all down with aches and pains and the recession that our government was telling us two months ago would be over by the middle of this year clearly still has a long, long, long, long way left to run.

“The Recession” will, in fact, only become official this week with the release of a second successive quarter’s figures showing declining economic output.  Having insanely talked the recession up for five months, Arrivederci Gordon has now got to deal with headlines stating that it is actually only just beginning.

To add to Gordon’s woes, Kenneth Clarke is back throwing his weight around.  (Such is the sheer physical mismatch between the new Shadow Business Secretary and his opposite number in the Cabinet that his appointment might be considered queerbashing on the part of PBD.)  Clarke’s far too sensible to be doing this because he fancies one last bit of knockabout at the despatch box – he’s stayed well clear of the Tory frontbenches for the whole miserable period of opposition so far and has only flopped back into the water now because he can finally smell blood.  He’s up for another stint around the Cabinet table and finally thinks it’s a realistic possibility.

Finally, Brown’s position will be thrown into uncomfortably sharp relief at 5pm GMT tomorrow (Tuesday), when That One is sworn in as US President.  There could be no greater underlining of the need for change than when the new American President eventually deigns to grant Arrivederci Gordon an audience: watch then the contrast between the vibrant, lithe and dynamic one shaking hands with the grey, sagging and visibly knackered not-so-lithe one in the slightly askew purple tie.

More businesses are going to go tits up; more people will lose their jobs; more factories will fall silent (either temporarily or permanently); Council Tax bills will go up; it’s going to be a fucking awful year.

The blame for the kicking Labour will be given by the British electorate at the local polls at the start of May will be laid firmly at Arrivederci Gordon’s feet, with the message: “eight months on and THIS is how bad things still are?”

He dithered twice in calling that legitimising general election he so desperately craves.  His second dither will be his last.  He’s a goner.

Arrivederci Gordon had his chance – this morning has proven spectacularly that he has blown it.

Please don’t throw me in the briar patch

The Minister is breaking with tradition and making three resolutions for 2009.

First, I shall not buy any more books until I’ve worked my way through through the enormous piles of unread, pulped dead trees that have amassed on my bookshelves over the past 18 months.

Second, in an attempt to simplify my existence, improve my quality of life and free up time in which to do things I really want to do I shall take positive steps to loosen myself from certain tar babies to which I find myself welded.

Finally, I shall emerge from the grieving process for The Lost 26,000 Words and start writing the fucking book again.

In the circumstances of the ongoing Clusterfuck To The Poor House, it’s probably too much to hope for prosperity so…

Health, peace and happiness.

It’s the economy, stupid (Part 3)

From today’s Independent:

Britain has become a worse credit risk than McDonald’s and a host of other large companies, figures produced for The Independent reveal.

The collapse in Britain’s credit rating has taken place over the past two and a half months, since the Government underwrote the banking system and decided to spend its way out of recession. Investing in UK government debt is now almost twice as risky as buying McDonald’s corporate bonds, according to the market in credit default swaps (CDS), which provides insurance for the buyers of such debt.

The government debt of large economies such as the UK would normally be considered far more secure than corporate bonds. However, on 29 September, the cost of buying insurance against default on UK five-year government debt became more expensive than the equivalent cover for the US burger chain and has since overtaken Kellogg’s and Coca-Cola, according to data from Bloomberg.

The cost of insuring for a year against default on £10m of five-year UK debt has jumped from less than £30,000 to £120,000, compared with the current price of £77,000 to protect against a similar McDonald’s default.

The extraordinary movements in the CDS market also reflect market concerns about the highly leveraged British economy, which is sliding into a recession that the International Monetary Fund has predicted may be worse than the slowdown in the US.

“It looks daft, it is daft, but that is where the buyers and sellers are and the way business is getting done in the CDS market,” one analyst said.

Dear Prudence, won’t you come out to play…?