Crash and Burn or Crash and Learn

Markets came crashing down in 2008,
Banks teetered, for some it was too late,
Life savings ruined, millions left jobless,
In came Government, to save the hapless.

And what was the cause of such a calamity,
Is there an explanation for this unreality?
Boom and bust, is it simply a law of nature,
Should we seek a more enlightening picture?

Unbridled lending fuelling property prices,
Bonuses from derivatives and hedging devices,
Greed, ambition stoking the market circus,
A financial house of cards, devoid of purpose.

Now the cycle of greed is upon us again,
For lending to real business, we wait in vain,
Bankers smiling, stock markets are booming,
The creation of new jobs, Oh that’s not moving.

Politicians prattle about new tough regulation,
No lessons learned, renewed market speculation,
Bankers cry foul, their bonus and salaries off limits,
It wasn’t me Guv, it’s simply the market’s forces.

Economic fundamentals remain largely the same,
The basic causes of crisis, nobody ready to tame,
Another financial implosion is inevitably in view,
But few Governments will be able to repeat a rescue.

How can we stop the cycle of greed and destruction?
Wrought by so few on many more than ten million.
Irresponsibility and greed must not be rewarded,
Sound money and common sense instead to be lauded.

We wait to see if politicians can step up to the task,
Unfortunately that is a very hopeful and unlikely ask,
Those time servers who presided over the last disaster,
Have hung on like leeches to their positions of power.

Cleaning house is our only long-term answer,
Proper regulation of markets, the other partner,
Creation of value not speculation, the principle,
Sustainable economic growth will then be invincible.


This first picture is the aftermath of the tsunami in Thailand in 2005, a real natural disaster; the re-building has begun.

This next picture a somewhat allegorical take on Wall Street versus Main Street; I leave you to decide who is who!