Bez I agree with a lot of the points you make, particularly the one about bankers who "have, of course, still got their obscene bonuses and the government seems powerless to stop it."
In the business section of The I today is this short report:
Banking staff 'want bigger bonuses' ...... A survey of 5,000 London-based bankers ..... has shown that up to 73 per cent are dissatisfied with their latest bonus, and that those higher up the pay scale are least likely to be happy".
"About 85 per cent [of BNP Paribas] employees believe their average bonus of £60,000 ... is not enough".
"At the other end of the table, employees at Swiss Bank UBS and JP Morgan each receive £215,000 and £213,000 in bonuses a year. Still, 72 per cent of UBS employees and 68 per cent of JP Morgan bankers apparently want more."
Although the EU tried to introduce a cap on bonuses, in the UK most banks have got round it by re-naming bonuses "allowances". George Osborne tried to veto the EU cap last year. So I think we can assume that the bankers have his support and are likely to get their way in the end.
I disagree with your view that the Labour Party chose the wrong Miliband. David Miliband was very much a part of New Labour and supported Blair's decisions - the worst of which being the war in Iraq, but also the PFI deals and "light touch" regulation of the finance sector.
Ed Balls is not my favourite person and perhaps that's because I didn't find him to be a very clear communicator but I, and I'm sure many other people, was not aware that he was considered to be "the best economist by far in the House". You would never have thought so from the sort of coverage he received from various commentators.