François Hollande, the leading challenger for the French presidency, has described the banking industry as a faceless ruler and his “true adversary”. As he launched in earnest his campaign to become France’s first socialist head of state since the mid-1990s, Mr Hollande said he would seek a Franco-German treaty to overturn the “dominance of finance” and re-orient Europe towards growth and big industrial projects.Certain leftists I know will say this is just populist bluster, that nothing is finance's fault, and that this kind of language is just a distraction from genuine radical politics. But it's not all bluster: As Arin D. points out, French bankers seem to have been born on the wrong continent, too.
At a rally on the outskirts of Paris in front of thousands of supporters on Sunday afternoon, he said: “My true adversary does not have a name, a face, or a party. He never puts forward his candidacy, but nevertheless he governs. My true adversary is the world of finance.” ... Mr Hollande promised, if elected, to separate the investment activities of French banks from their other operations, ban them from tax havens and establish a “public” credit rating agency for Europe. He also promised higher taxes for people earning more than €150,000 a year and attacked the “new aristocracy” of today’s super-rich. A financial transaction tax would be introduced, with France acting with other European countries willing to participate....
In a powerful speech that advisers said he had written himself over the weekend, the socialist candidate came out fighting, looking to make an impression on the broader French public by taking aim at some carefully chosen national bêtes noires. These included globalisation, unemployment and shrinking domestic industry. But uppermost were bankers....
“I have always followed the line on which I was fixed,” he said. “I am a socialist. The left did not come to me through heritage. It was necessary for me to move towards it.”
Monday, January 23, 2012
I Was Born on the Wrong Continent
... because I want to vote for this guy: