With the Vickers report published today, calling for the ring fencing of the biggest banks' retail and buccaneer operations together with an increase in the capital ratio to 10% on the retail side, you may think that the Coalition is finally doing something for the ordinary taxpayer against the depredations of the ruthless corporates. Don't be fooled. As Richard North reminds us, the corporates are snugly in bed with the entire political class. Vickers will be kicked into touch; Cameron and Osborne will announce some sort of implementation commission, with a further report date well into the future. They won't change the arrangement whereby the taxpayer underwrites the losses of the buccaneer operations and the shareholders alone enjoy the profits.
So Barclays and RBS together with their chums Crapita, Serco, G4S and the rest who are doing so well out of taxpayer's money are closing up control of any reform. They have destroyed any meaningful Localist reform and twisted it into a privatisation process whereby public functions pass from the central State to the State Corporates; they prop up a chronically sick EU that cements their economic advantages, and regard democracy is an irrelevance and taxpayers as disposable prey, to be milked to the point of emaciation and abandoned. And as we saw last week, the devolution of planning powers to local communities is conditional on local communities always saying 'yes' to the new Tesco megastore; a smoke and mirrors exercise in pretending to devolve powers whilst increasing the reach of the corporates.
Big business is as pernicious as big government. It cares even less. It takes even more.