Flash Gordon …. loadsamoney in disguise?

“He saved every one of us!”…or did he?

Nothing like a good old fashioned war or a crisis to shore up the public’s perception of an unpopular leader. It works every time. The one thing I’m surprised about is that Flash Gordon hasn’t evoked memories of the blitz and a “we’re in this together” message. Except, we’re not all in this together, are we? MPs, even if they lose their jobs, have the best pension plan in the UK bar none, they have lecture tours, board seats and lucrative after dinner engagements. The same boat?…it isn’t even the same ocean!

Tony Blair has just bought a near £6m pile in the country. I’d like to know where an ex PM earning about £200k a year gets the cash to do that? It’s 30 times his income and he’s too old to get most traditional mortgages. If his wife is earning about £500k a year, it’s still 8 times their joint incomes.

No doubt Gordon Brown will get the same type of country pile once he departs Downing Street and hits the lecture circuit for a while…which he no doubt will. He has been hailed as the global architect of the financial system rescue plan and has in the process made Bernanke and Paulson look like a pair of clowns…with big shoes and big mouths that fit each other beautifully. What good the bailout plan does remains to be seen…but there are plenty in the city who think this type of intervention does far more harm than good.

But make no mistake, the PM and the MPs will be sitting pretty after all this is over. Sure, some of their investments are suffering in the same way ours are, but they have implicit tax payer guarantees on their pensions at a time when everyone else is looking at their private pension pot with incredulity.

Flash Gordon….more like Harry Enfield’s character from the last boom….loadsmoney!

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Tags: Bernanke and Paulson, Global Credit Crisis, Gordon Brown, Tax, Tax Payer, Tony Blair