Thursday, 25 June 2009

Maxwell Brown

The more I think about it the more Brown reminds me of that other fat crook, Robert Maxwell.
Browns entirely flawed tripartite regulatory 'system' for financial services was constructed especially to stop any one part knowing what was going on in the other parts. Only Brown knew the whole story. Maxwell managed his businesses in the same way, by confusion and division.
Brown's accounting system for the UK is an elaborate fiction with massive off balance sheet borrowings and complicated financial arrangements between different departments, each funding the deficits of the other in the manner of pass the parcel. Maxwell did exactly the same, borrowing on company A and then lending the money to company B in the same robbing Peter to pay Paul way.
Maxwell was a bully. He employed yes men. He treated many staff very badly. But he employed useful people on high salaries to neuter them. Many of them journalists previously hostile to him. He was also a sycophant, garnering acquaintances with useful movers and shakers. Brown is a bully. He employs a crew of yes men, many of dubious character and rewards them well. He is just as sycophantic; his courting of Obama for example.
Maxwell was a stranger to the truth. Need I say any more.
Brown's raid on pensions must have been learned from Maxwell. Maxwell bought companies purely to access the target company's pension schemes funds. He simply switched the members to his Headington Investments scheme and then cashed in the ceding schemes surpluses for his own use and to keep his group afloat. He also loaned pension scheme stock as security for company borrowings within the group. The trustees were place men - his sons. Brown has taxed the bejeesus out the UK pension schemes. He has mortgaged the assets in which they invest to foreign investors.
Maxwell had no respect for the rule of law. Neither has Brown. Brown sees law as a vehicle for social control and the advancement of the socialist program.
Maxwell conned many ambitious and greedy bankers. Brown did the same.
In the end the whole edifice came crashing down around his head. He knew the game was up and took a ride on his yacht, off which he fell, or was pushed. The chaos left behind was epic, but was only company sized. Brown's game is also up. Brown has destroyed the wealth of a whole country. But he has not yet had the grace to fall off his yacht, and no-one has yet had the courage or opportunity to push him overboard.
Brown is waiting for two things. One is the Irish Lisbon treaty referendum. The other is an event. This time he's doomed. The next event will be his Maxwell yacht moment.
PS. Intriguingly Hitler used exactly the same techniques of divide and rule and fear.


Oldrightie said...

Compared to Brown, Maxwell was a well liked popular figure who ran out of cash. Jim is a well despised unpopular figure who has run out of our cash!
An excellent post deserving of a wide audience.

Mark Wadsworth said...

What Oldrightie says.

Pogo said...

Further to Oldrightie... When it comes to pension scheme depredations, Maxwell was a rank amateur compared to Brown.