The Malta Independent 11 May 2024, Saturday
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Never Make a promise you can’t break

Malta Independent Tuesday, 13 November 2007, 00:00 Last update: about 11 years ago

Although this seems to be the not so hidden agenda that the Nationalist Party has developed over the years, it is also the title of a side-splitting short but punchy book of Irish humour on How To Succeed In Irish Politics.

Had the Nationalists not perfected this approach into an art over the years under its various leaders, particularly under Lawrence Gonzi and his predecessors, this book would have been recommended reading for its key officials, their party leader included.

But having followed the travails of the PN over the years one can safely conclude that the Nationalists are even in a position to assist author Gene Kerrigan in improving the content of his book as well as in beefing up his spicy and sometimes ‘close to home’ suggestions.

I liked best the following:

•the poor are no longer referred to as poor but as disadvantaged;

•the disadvantaged are not poor they are merely less well off;

•people who dwell on demanding social issues should be derided for wanting to throw money at problems;

•anyone seeking political support for an issue that causes you problems is considered divisive;

•anyone demanding action against excessive profiteering is doctrinaire and ideologically motivated;

•those who are too insistent on such things as justice and fairness are motivated by the politics of envy!

Recently at a time when Dr Gonzi was doing badly in the polls in spite of his ‘generous’ budget he tried to impress upon us the fact that he was inundated with praise and thanks for ‘his’ budget. This reminded me of what the Irish author had to say.

“If the media polls show your party doing badly say that the response you’re getting on the doorstep – which is where it matters – is much more positive!”

Which brings us to TVM’s recent main Sunday evening item on the same day when local newspapers showed that the PN had made only marginal gains after the budget and was still trailing Labour.

The Irish author seems to have given them a hint. Either imply that the polls were not scientific or else when the media polls show that the government is not doing well, put on a confident smile and explain that polls are complex things that must be read properly.

Not that I am a firm believer in polls but this creation of positive imaging reminds me so much of the Maltese political scene.

Incidentally has anyone noticed a small discreet snippet on the front page of another local Sunday English newspaper?

It claimed that when the PN strategy group which includes Rev. Prof. Peter Serracino Inglott and Richard Cachia Caruana met to discuss polls as well as the date for the election that now will definitely be held in 2008 “interestingly, the role of the ‘independent’ media and its impact on undecided voters was also debated”.

Which begs the question: If the independent media is that independent how on earth should or could the PN strategy group be discussing its impact if it is – as it claims – not in a position to influence its editorial lines?

Hard selling in wealth

management

Recently I have had various complaints from serious minded constituents about the hard selling going on in certain banks and other financial services providers when it comes to wealth management, particularly funds.

To be fair the MFSA has a very efficient Consumer Complaints Unit. Their annual report for 2006 makes interesting reading and should be ideally serialised in local business newspapers.

Apart from the generous commissions which often prod certain wealth management selling officers to go for the jugular, consumers are sometimes not even given enough time to read the material that is presented to them.

The MFSA report states objectively that although it is true that when it comes to certain capital protected or secured products, it is not understood why investors (and their lawyers) expect products to pay them interest, when such interest may not be guaranteed and very much depends on market performance and that it is only the capital which is guaranteed at maturity, there are other instances apart from those I mentioned at the beginning – which incidentally are also the subject of a parliamentary question I have just posed to the Prime Minister – where the problem is not with the financial planner but rather the product documentation itself. While investors admittedly should take an active interest in the material they are presented with, this material should be tailored for ‘normal’ investors and not for expert financial planners.

The MFSA report goes on to add correctly that “the material included in the documentation reviewed is sometimes unbelievably complex especially when there are mathematical formulae to explain potential returns”.

Even the MFSA is of the opinion that this is not considered fair on consumers.

Spoilt for choice

What is the best way to unwind when we are virtually in the middle of an election campaign, although the PM seems to be the only person who is unable or reluctant to admit that a country can be up to its neck in an election mode without the election date having actually been announced?

Well to answer my own question.

The best way is to catch up with the latest CD rock releases. And to be fair right now we are all spoilt for choice.

After having enjoyed Dylanesque – a collection of Dylan songs by Bryan Ferry, we now have Bruce Springsteen’s Magic which brings him together again with his E-Street Band, Neil Young’s Chrome Dreams II which has been described as a sequel to a record that was never made, Robert Plant’s wonderful bluegrass effort alongside Alison Krauss called Raising Sand and of course, the Eagles who have managed to do something that eluded them in the past – hit the top of UK album charts. Meanwhile if all this is not enough we have The Autobiography by Eric Clapton, which is the most essential read since Sting’s Broken Music.

Who said that I have nothing in common with Lou Bondi?

e-mail: [email protected]

Leo Brincat is the

opposition spokesman for Foreign Affairs and IT

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