the sandals are off

…can I expect any changes?

The truly unprecedented scale of the banking crisis has been breathtaking. At the centre of it all, I look at my bank (and others) and wonder who is to blame for it all. I gather the Tories are planning, in good time, to heap all of this at Gordon Brown’s door.

But it ain’t that simple…

Deregulation and liberalisation of banking has been going on since the Thatcher years. Dismantling a raft of restrictions on banks and building societies seemed like a great idea. But how many demutualised building societies are still going strong today? There are some in our party that like to believe that economies and markets can almost always be left to their own devices. What has transpired has proved otherwise.

The big problem with fractional reserve banking is that the more risk you take - the more you stand to make. Unless governments set boundaries, there is always a danger that the bubble will burst again. We are all going to need to take a long hard look at how banking can be regulated in the future. Liberals will have to strike the right balance between competitive freedom and the recognition that banks aren’t always as prudent as is necessary for a healthy, stable economy.

Next time I go overdrawn, and get charged by my bank for not being ’sufficiently careful’ with my finances - can I expect a more sympathetic hearing?

When the economic climate faces uncertainty, the conservative investor looks to precious metals like gold and silver as a safe haven. This is an entirely justified strategy. The Romans said that an ounce of gold would buy a man a fine suit of clothes. Considering that an ounce of gold right now will set you back over £500 - it’s easy to see that it has easily kept its intrinsic value. It is unsurprising that gold and silver dealers are currently seeing unprecedented demand from private investors. After all, a share in a company can literally become worthless overnight - but if you have an ounce of gold (as long as it’s in a safe place) you’ll always have something of worth.

This does beg a question though:

What was the rationale behind Gordon Brown’s decision to sell off our gold reserves eight years ago, when the price of gold was at a twenty year low? Hardly prudent!

Now that the man himself has confirmed that the Scum story is absolute rubbish, I am hoping that retractions and apologies will swiftly follow.

While we all love a good debate, please. let’s keep this one respectful. All of the candidates will continue to be an asset to the party once this contest is over. There’s been a tendency for some Lib Dems to play into the hands of the press during internal contests!

That said, I’m bound to say that comments such as ‘Ros has a clear lead’ (you know who you are) are just ramping. We really have absolutely no indications of voting intention at this point. The Ros camp would do well to remember that while their candidate is well known and well liked by many activists, there are many armchair members who will be saying ‘Ros who?’

It’s not the blogosphere you have to win over - it’s the wider membership. Claims of a ‘clear lead’ may be somewhat premature.

Having said that, I am enormously relieved that the Big Brother story was untrue!

A group of retired Gurkhas has just won their High Court battle to be allowed to remain in the UK. The judge agreed that their service and loyalty gave us a ‘moral debt of honour’ to these brave men.

I personally find it incredible that we do not give an automatic right of residency to all retired Gurkhas. They have been serving us with distinction for two centuries - and still do.

The Gurkha Justice Campaign is fighting for a change in the law that would give all retired Gurkhas that automatic right. If you agree with me, please sign the petition at http://www.gurkhajustice.org.uk/

In 2006, we were lucky enough to have Lembit as our guest for the Wycombe Liberal Democrats Annual Dinner. It was one of the most memorable and enjoyable social occasions I have ever been involved with.

Forget the tabloid image. Lembit is a serious politician right enough. He spoke movingly about the hardships he endured whilst campaigning to win his seat. He also spoke movingly of his passion for local healthcare provision, drawing on personal experiences. He also made us roar with laughter, but not in a bad way. He simply has a wonderful ability to effervesce and enthuse an audience, while still making serious points.

Britain needs politicians like Lembit - who can show that politicians don’t have to be dull and boring. He’s a real character - but he’s also a real Liberal Democrat. Electing him as President will be good for the profile of our party, and a real boost to our hard working grass roots.

He has my vote.