CDC: Depressing, isn’t it?

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I listened to the Radio Four programme on the Commonwealth Development Corporation (CDC) yesterday, and was depressed.

It's depressing that CDC and its investment managers refused to take part.

It's depressing that their shareholder, the Department for International Development did not require them to do so.

It's depressing that someone has seriously misled the House of Commons when the Minister for International Development informed the House that CDC did not have copies of its subsidiaries accounts: an absurd impossibility as it could not have prepared its consolidated accounts if it did not have them.

It's deeply depressing that CDC s now just another profit maximising short term investor.

It was depressing that Malcolm Bruce seemed to accept CDC's blatant tax abuse.

Most important, it's depressing that another part of the state has been captured by a small elite who are exploiting the public purse, the development agenda and the public good in pursuit of their own personal greed. This is typical of the capture of the state by this elite.

Two hundred years ago the English commons were enclosed by landlords, seizing the right to their use from the ordinary people of this country. It feels to me like the process is being repeated. A new elite is enclosing public property. State services are being captured to provide private gain (whether it be CDC or Virgin's plans for health care). Our pensions are being captured for private gain. That's how private equity and hedge fund managers make their absurd returns: they are stealing ordinary people's future. Indeed, that's how the City as a whole is paid.

I think this wholly unacceptable. I think people's awareness of this is rising. I hope so.