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| Labour and the banks - whose reckoning? | Labour and the banks - whose reckoning? |
| (35 minutes later) | |
| "Reckoning" | "Reckoning" |
| Definition: "the avenging or punishing of past mistakes or misdeeds". | |
| Usage: As in "we need a reckoning with our banks", E Miliband speech on banks 17.01.14 | |
| When Ed Miliband and his team were looking for one word to sum up his approach to the banks they chose one they must have heard again and again at the movies. | When Ed Miliband and his team were looking for one word to sum up his approach to the banks they chose one they must have heard again and again at the movies. |
| It smacks of a tough, dare I say macho, determination to avenge and punish past mistakes or misdeeds. The question it raises, though, is whose mistakes or misdeeds the electorate will choose to punish. | It smacks of a tough, dare I say macho, determination to avenge and punish past mistakes or misdeeds. The question it raises, though, is whose mistakes or misdeeds the electorate will choose to punish. |
| The Labour leader knows that the Tories' answer to that is "yours". | The Labour leader knows that the Tories' answer to that is "yours". |
| The Conservatives have already told everybody that the theme of their election will be "don't hand the keys back to the guys who drove the car into a ditch". | The Conservatives have already told everybody that the theme of their election will be "don't hand the keys back to the guys who drove the car into a ditch". |
| Whether it's the crisis in the banks, high energy prices or the deficits, they will say "it all went wrong under Labour" and "we're beginning to put things right but the job is only half done". | Whether it's the crisis in the banks, high energy prices or the deficits, they will say "it all went wrong under Labour" and "we're beginning to put things right but the job is only half done". |
| Today's speech revealed that Labour believes they can overcome that problem by establishing their leader's credentials as the man willing, ready and tough enough to stage a reckoning with the powerful vested interests which, he argues, created a long term cost of living crisis long before the crash of 2008 and which will last long after the current modest recovery is established. | Today's speech revealed that Labour believes they can overcome that problem by establishing their leader's credentials as the man willing, ready and tough enough to stage a reckoning with the powerful vested interests which, he argues, created a long term cost of living crisis long before the crash of 2008 and which will last long after the current modest recovery is established. |
| Deficit reduction is not, he argued, enough. It is not a vision for the country. Many Conservatives would quietly agree with that. | Deficit reduction is not, he argued, enough. It is not a vision for the country. Many Conservatives would quietly agree with that. |
| However, the Tories reply that taking on the banks or the energy companies does not add up to an economic plan. | However, the Tories reply that taking on the banks or the energy companies does not add up to an economic plan. |
| Many Labour supporters whisper that there is truth in that. | Many Labour supporters whisper that there is truth in that. |
| This year sees the release of yet another movie with that word in its title. The poster for "The Reckoning" carries the slogan "you reap what you sow". | This year sees the release of yet another movie with that word in its title. The poster for "The Reckoning" carries the slogan "you reap what you sow". |
| The result of the next election may come down to who it is voters want to stage their reckoning with. | The result of the next election may come down to who it is voters want to stage their reckoning with. |