When will politicians and economists learn that you can't base our future stability/wellbeing on what is, in effect, a winner takes all casino economy?

When it all goes wrong, it is the most vulnerable and the poorest who end up paying the price. I don't know why it is still called a free market system. In a truly free market (thankfully, no such thing exists), when your gamble does not pay off, you go under.

Not any more! In the boom times, banks and financial institutions make a fortune and want governments very much at arm's length. However, when they fail, they beg the very same governments to bail them out with taxpayers' money. Is there a more sickening spectacle?

To round off matters, we have the almost surreal spectacle of a Labour Government worshipping the laissez faire model probably more than any previous Conservative government. They are shamefully leaving the market to correct itself at a time when it is in virtual meltdown.

Now is the time for unambiguous state intervention to sort out this mess. Reluctantly nationalising the odd bank is nowhere near enough.

The whole financial regulatory framework needs reviewing. Tinkering at a time like this is pointless and ineffective. Regulation has become a dirty word and yet recent events have demonstrated that it is now urgently required.

Regulation is the sign of a civilised society. People are far too important to be treated like chips on a casino table.


Mansion finds recipe for new lease of life


From: Coun John Procter, executive board member for leisure, Leeds Council.

IN response to Stella Mullins's letter on the subject of Roundhay Mansion (Yorkshire Post, September 6), I would like to take this opportunity to reassure her that decisive action has been taken to address the problem of this iconic building being left redundant.

On September 2, Leeds City Council's Executive Board agreed to appoint an operator to provide café/restaurant facilities and events catering for this historic house.

Furthermore, the council is significantly contributing towards the fit-out costs, having already invested heavily in protecting and upgrading the fabric of the building.

Dine, the chosen operator for the Mansion, has a number of high-quality, high-profile contracts across the region such as Leeds Town Hall, Harewood House, Fountains Abbey and York Minster.

After years of inertia by the previous administration, we will now see the welcome return of this lovely old building as a prime location for special occasions and as a place for visitors to simply enjoy a cup of tea and snack in the picturesque surrounding of Leeds's best-loved park.


Action that could prevent the misery of flooding


From: Mike Potter, Pickering and District Civic Society

YET again, Ryedale has suffered from flooding following heavy and persistent rainfall over the whole catchment.

Pickering was exceedingly lucky to be at the very centre of an area of low pressure on September 6 and 7, when the Beck had already burst its banks.

Had the heavy rain surrounding the area moved several miles south, there would have been devastating damage to properties once again. Nearby Sinnington, Normanby and others were not so fortunate.

In the independent review of the 2007 floods by Sir Michael Pitt, the Environment Agency stated that clearing a river channel adds only a small proportion to the flow capacity and has limited benefit.

Would the Environment Agency be prepared to confirm that this statement is only valid for large rivers where silt and vegetation account for a very small part of the cross sectional area, but not so for the small and medium sized rivers, common to Ryedale, where the opposite is true?

It is encouraging that the Civic Society's suggestion of low dams (or bunds) for upstream floodwater storage is gaining credibility. These would temporarily hold back the peaks in flow that cause flooding. However, this cannot be done in isolation, as unmanaged abandonment of river maintenance would very soon render any such scheme ineffective, as rivers would begin to flood with a lesser flow than previously due to reduced capacity. To put it simply, if your gutters are half full of silt and leaf mould, they can only cope with half the amount of water before overflowing.

Imagine the frustration of a house tenant constantly arguing over the logic of repeatedly paying to repair flood damage caused by blocked gutters and drains, year after year. The landlord won't pay for them to be cleaned out and the tenant is forbidden to do it himself. But don't worry – the landlord does a grand job of warning you that it's about to happen.