London is the engine driving the UK economy


Anthony Hilton is a city commentator with a column on the London Evening Standard.

Four days after the Black Monday of 21st of January 2008 he reflected that It would be nice to think the world’s bankers could be left to twist in the wind, paying the price for their mistakes, but the world does not work like that. The credit-crunch […] may be entirely caused by their greed and excess but everyone else will pay the price.

Also: The financial sector is already turning down fast and the UK economy is now a giant hedge fund with a huge bet on financial services – and no Plan B for when it all goes wrong. For the past 10 years London has reaped rich rewards from the global financial boom and it will again in the future […] The main engine driving the UK economy is running on empty.

I don’t know who has or have the data on as many as 25 million people in the UK that the government “lost” a couple of months ago. It is tempting to speculate with the idea that the data is already in the market and up for takers. Child Benefit data is a product with a relative long shelf life, so we might never know when it is sold and to whom.

I registered at a junk mail prevention scheme, The Mailing Preference Service (MPS), some time ago. I don’t allow any bank and company I deal with to use our personal data for uses other than the ones pertaining our accounts with them. I am that type of customer concerned about data privacy who always tick the box “Don’t allow to use your data for…”.

Many companies and bank have a liberal approach to the privacy of the data of their customers, like Citibank regardless of having to operate under the most protective legal scheme in the world, the EU Data Protection Directive.

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