Standards in social are being undermined because the handful of private
companies which dominated public sector contracts are deemed too big to fail, according to a report by Social Enterprise UK. The report’s authors said that Britain faces “another banking crisis” in the care sector unless charities and social enterprises are given a greater slice of the market.
Ace News Desk: Our take on the story based on:
” Banks Being Too Big To Fail”
There was a phrase someone time ago, that l remember well and it went like this: ” The Bigger You Are The Harder You Fall” but we live in times of austerity whereby the rich do not get touched by the hardship of the poor!
Although we have a broken country and the 2008 crisis led us to the brink, we never saw any bank of size fail! Oh initially they were stating that they were unable to trade, due mainly to liquidity. But this liquidity existed in one country at the time, as they moved their funds around! The country in 2008 that brought us the brink was the “United States Of America“ and they had a street that was ” Walled” like some ancient wall of Jericho, and we all know what happened to that eventually, but not now!
But in this global world of cross fertilisation of currency and ideas, it was not long until we were to witness, that what ever happens across the pond, eventually arrives on the United Kingdoms shores! Then like a greedy monster, it started to devour every financial product insight, just to protect itself!
This was to continue to “ricochet” backwards and forwards for three whole years, with the “blame culture” evident and Wall Street putting up the barriers to protect themselves! The words “Too Big To Fail” became the “Watchwords of the Day” and these monoliths of investment were looking like they may tumble! But they did something, that no other establishments had ever done! They had protected themselves by designing a system, that would stop all comers getting beyond their firewalls, these ” Seven Wall Street Banks” were protected by protecting each other! They defied all rules of “Financial Regulatory Controls” in place at the time, and did not fail!
Now fours years on it is the turn of the ” Healthcare Industry” to become “Too Big To Fail” and then as more of these massive, uncontrolled corporations and institutions, see it works!
Another phrase comes to mind
“Much Wants More And Greedy Wants The Lot“