The experts from Morgan Stanley did criticise a person, named Jeremy Corbyn, in December 2017…. it seems that they didn’t even imagine what was waiting for them!
Morgan Stanley is a leading global financial services firm, providing investment banking, securities, wealth management and investment management services. It is one of those companies, which rule the global market of investment capital. The main aim of these companies is to generate ‘profit’. They want to ensure quick profit akin to the ‘speed’ of Usain Bolt, if not more. Hence, firms – like Morgan Stanley – consider those, who create obstacles to the capital, as enemy (of the civilisation).
The leader of the British Labour Party and also Leader of the Opposition (since 2015) in the British Parliament, Corbyn is naturally one such enemy. He has always been in favour of the state control over the market economy, assuring the Britons that the Labour Party would nationalise gas supply companies and railways (if he is voted to power). He also hinted at collection of more taxes from the ‘rich’ people and lowering the expenditure for higher education by providing more subsidies from the exchequer. His main aim is to ensure an equitable growth. Former PM Margaret Thatcher had introduced the market economy in Britain nearly three decades ago. Now, Corbyn plans to rotate the wheel in the opposite (left) direction for betterment.

It’s quite natural that organisations, like Morgan Stanley, want to get rid of such ‘problems’ (read Corbyn). Usually, they do not criticise political leaders openly. Politicians, journalists and media-friendly economists have been seen talking in favour of them, instead. They, for their benefit, encourage people to accept the concept of ‘Global Capital’. And no wonder, they have been very successful in recent times. They have managed to establish the philosophy of ‘free economy’ as a scientific (science-based) economic theory, although it only serves interests of the global capital.
However, the scenario changed in 2008. Capitalism has been trying hard to gain its (old) self-confidence since 2008 when the global financial crisis rocked the world. Still, the liberal economists have failed to bring back people’s confidence in market economy. As a result, Morgan Stanley and others have no other option, but to fight their ‘own’ battle.
Leading ‘Morgan Stanley’ economists have predicted that the government of Theresa May might collapse in 2018 because of splits in the Cabinet over Brexit. In the first week of December 2017, Morgan Stanley published a report in which it warned investors that a victory for Corbyn and his Labour Party may prove to be disastrous for its fortunes. The ‘global finance criminals’ also said that Corbyn getting elected to power might be a “bigger risk than Brexit”.
Surprisingly, the British Labour leader (too) launched verbal attack on Morgan Stanley, saying: “Yes, you’re right, we are a threat…. These are the same speculators and gamblers who crashed our economy in 2008. And then, we had to bail them out. That’s meant a crisis in our public services, falling wages and the longest decline in living standards for over 60 years.” He also said: “Nurses, teachers, shopworkers, builders, just about everyone is finding it harder to get by, while Morgan Stanley’s CEO paid himself GBP 21.5 million last year (2016) and UK banks paid out GBP 15 billion in bonuses. Labour is a growing movement of well-over half-a-million members and a government in waiting that will work for the many. So, when they say we’re a threat, they’re right. We’re a threat to a damaging and failed system that’s rigged for the few.”

Jeremy Corbyn

In British politics, Labour leaders have never issued such attacking statements (especially since 1994, when then PM Tony Blair coined the term “New Labour” in a party conference). Undoubtedly, Corbyn’s candid statement made his party ‘stronger’. Of course, David Cameron’s ‘suicidal’ Brexit Referendum and his successor Theresa May’s failure to play a constructive role as PM have helped the Labour Party make a strong comeback in British politics. However, Corbyn deserves credit for leading the party from the front.
It is felt that there is a lot to learn from Corbyn’s ‘brave’ political moves. Almost all the Labour leaders were against him when he became the party chief. They were of the opinion that ‘ultra-left’ Corbyn could ruin the party. ‘Fortunately’, the party’s big support groups did not agree with this view and backed their chief. After taking full control of the party with the help of his followers, the Leader of Opposition proved his critics wrong. Can it now be mentioned with confidence that the Labour Party is in safe hands?

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Published by Koushik Das

Koushik Das (born on May 16, 1976 in Kolkata) is a career journalist. Based in the Indian capital of New Delhi, Koushik writes mainly about foreign policies and current geopolitical issues, and rarely about other topics. His own political ideas are highly influenced by Antonio Gramsci, Louis Althusser, Michel Foucault, Michael Oakeshott and others. English philosopher and political theorist Oakeshott (Dec 11, 1901-Dec 19, 1990) says that “in political activity, men sail a boundless and bottomless sea. There is neither harbour for shelter nor floor for anchorage, neither starting-place, nor appointed destination. But we have to keep afloat”. (Rationalism in Politics, 1962) As a student of Political Science, Koushik loves to share his views on issues, which have great impacts on his thought process (and also on India, South Asia and of course on the global community), with his readers through his website – Boundless Ocean of Politics. By doing so, he tries to keep himself afloat. You will find some of his articles in https://inserbia.info/today/ (https://inserbia.info/today/author/kou_das13_i/), as he has been trying to assess the global geopolitics since 2003. You can also mail him at kousdas@gmail.com View all posts by Koushik Das