So, last night MPs voted for a Parliamentary Inquiry by 330 to 226 votes, and against a Judicial Inquiry ( à la Leveson) by 239 to 320 votes. MPs voted broadly along party lines.
Despite threatening to ‘walk off with their jumper’ Labour will take part in the cross party Inquiry after the Government promised that a senior barrister would be appointed to take charge of questioning witnesses.
But I doubt the general public will be mollified, especially after Andrew Tyrie, the Conservative chairman of the Treasury Select Committee, who will chair the Inquiry made it clear that there will be ‘no witch hunt.’
Nobody wants a witch hunt, but the public do want those who are responsible for corrupt and fraudulant practices, however wealthy and powerful, held to account.
When politicians use the term ‘witch hunt’ they are using code, it is meant to suggest that anyone who believes that pursuing individuals within a certain clique is being unreasonable.
See ‘witch hunt’, read diligent investigation into corrupt bankers.
To regulate or not to regulate, that will be the question, and just how little regulation can the politicians, who all depend on financial support of the banks through party donations, get away with ? I’m dreading this parliamentary Inquiry, I’m dreading having to listen to the special pleading of bankers, the hot air from MPs on the Treasury Committee, and the whitewashed report.
This is exactly the outcome the bankers wanted, which is hardly surprising considering the amount of money they’ve spent on ‘insurance’, through party donations, over the decades. Unlike Leveson we won’t see all their emails (just a token few) we won’t find out exactly how deeply riven with corruption the establishment truly are.
Nothing substantial will be achieved.
It’s a terrible day for democracy.