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Cross-posted from MyTelegraph: The poison pill budget - Wemyss's Appalling Hobby:
From the Party Guilty of Committing 'Gate of Ivory, Gate of Horn'
Cross-posted from MyTelegraph: The poison pill budget

A ‘poison pill’, in finance, is – well, naturally, it’s yet another Americanism contaminating the well of pure English, but that’s not the point.  A ‘poison pill’ is a measure or series of measures instituted by a beleaguered board of directors to render the consequences of a hostile takeover so costly that the buyers – and any shareholders who had the effrontery to accept the buyer’s bid – suffer substantial and lasting remorse.


For over a decade, the board of UKGB plc has been bollixing things up.  Until recently, no one noticed, amidst a generally rising market.  Ever since the self-perpetuating directors have installed one of their own with no reference to the shareholders, however, ominous facts have begun to emerge.  The directors are now seen to have engaged in everything from self-dealing and bung to outright fraud.  They’ve dodged the shareholders and evaded an AGM.  The auditors will no longer certify their accounts, they cannot continue to trade as they are, and the market won’t buy their issues.


The shareholders are increasingly inclined to accept a takeover bid, even at the risk of a cut in dividends and a period of belt-tightening, simply in order not to lose the whole value of the company.  The directors are petrified with fear.  Their sole criterion is self-interest; their sole remedy, to wreck the company in hopes that, after the takeover, the new owners and board will be so crippled that the current lot can eventually make a comeback and start looting and asset-stripping again.


I think that a very fair summation of the Brrroun Years and the Darling Little Budget.  Labour know – even the ostensible ‘loyalists’ in the bunker, even, in some substratum of his delusions and psychosis, the PM – Labour know that they are inexorably on their way out, within a year, quite possibly within months, and with no prospect of anything but many years in the wilderness ahead.  If they cared – had they ever cared – about what was right and what was best for Britain, they might act otherwise, but as they care now only for spiteful destruction, they are at this point deliberately wrecking government, the economy, the civil service, the police….  All in order to make Tory governance as nearly impossible as they can manage to do in advance.


And so, when Iain Dale says, ‘The 50% tax rate announcement was purely designed to give a signal to the Labour left that he’s happy to make the pips squeak (copyright Denis Healey 1977). What other explanation can there be?’, and Nick Robinson asks, ‘Why?’, there is a damned simple answer and a damned simple explanation, one that is not tactical or political in the least.  This is a poison pill budget, motivated, now, not even by class warfare or atavistic motives, but simply from a nihilistic, end of the Reich determination to destroy and to make rebuilding by the enemy impossible.  And that is why, when I see headlines about, oh, anything that this government do, that begin, ‘Ministers should hang their heads in shame’, a part of me is tempted to suggest that a full stop wants to be inserted immediately following the verb, and the rest of the headline abandoned.

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pathology_doc From: pathology_doc Date: April 23rd, 2009 12:23 am (UTC) (Link)
Dear sir, I believe you're considering the need for Mr Fawkes?
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