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Saturday, 7 July 2012

Be Alert and Vigilance to Stay Safe!

Smash-grab victim takes to the Internet to spread message of vigilance

PETALING JAYA: A vehicle smash-and-grab victim has set up a website called Be Alert Stay Safe to spread the message of vigilance.

Crime Scene

 The website, www.bealertstaysafe.tumblr.com, features stories from victims as well as those who witness similar incidents.

 Ling (who only wants to be known by her first name) said: “I'm so tired of people just talking about it. I'm very angry at what's happening and Malaysians need to stop talking and take action.”

She had lost her laptop and six months' worth of dissertation research in an instant when the assailants smashed her car during a traffic jam.

In an interview recently, Ling said her traumatic experience was worsened by the “nonchalant attitude” of the motorists around her, who did not bother to get out of their car despite witnessing the incident.

Venusbuzz.comAnother woman who has taken to the Internet to spread awareness is Anna Chew, whose women's e-magazine (www.venusbuzz.com) runs an awareness campaign called the CARing project.


Besides featuring articles on self-protection tips, the website also has a “car park rating system” where people can rate the safety of shopping mall car parks in the Klang Valley.

The ratings are based on 10 questions, including whether there were CCTVs, active security guard patrolling, buggy services and panic buttons installed.

Chew said reports would be compiled based on the ratings received and handed over to each shopping mall's management.

“We hope the respective managements will take this seriously and not implement superficial services just to make themselves look good,” she stressed, adding that women must be proactive.

When contacted, Malaysian Association for Shopping and High-Rise Complex Management general manager Evelyn Lo said they would be having an open dialogue with Bukit Aman next Friday.

“We will be discussing a variety of security issues and we have invited all the shopping malls,” she said, urging all mall visitors to remain alert of their surroundings despite existing security systems.

Mid Valley Megamall public relations assistant manager Stephanie Tan said security had been beefed up in the mall's car park after a recent assault on a female shopper there.

She said the mall had increased the number of panic buttons, adding that these were prominently displayed on black and red checkered pillars marked with a “HELP” sign.

“We also have escort services for which shoppers can request from the information counter, car park lobby security booths or our hotline,” she said.

By ISABELLE LAI isabellelai@thestar.com.my 

The rise of mega-churches in Singapore

There are several mega-churches in Singapore with evangelical fund-raising zeal, posing potential problems for this multi-religious country.

THE city is abuzz with anticipation over the coming trial of leaders of the largest and richest charismatic church on charges of misuse of charity funds.

It is the result of two years of the biggest investigation of a religious institution.

Five leaders of the City Harvest Church (CHC) – including co-founder pastor Kong Hee who preached a form of money-generating prosperity gospel – were charged with criminal breach of trust.

Generic photograph of the Parliament building in Singapore. A question touching on the City Harvest Church saga has been tabled for the next Parliament sitting on Monday, July 9, along with others on voters, transport, education, health and manpower issues. -- ST PHOTO: ALPHONSUS CHERN

Singapore is often stereotyped as a society that only worships money.

“Now, some pastors are cashing in on it being true,” said a banker.

Over the past week, the case stirred up a hot public debate on and offline, with most supporting the court action.

Altogether eight leaders, including the arrested five, were suspended from charity duties, but the church itself was unaffected and allowed to carry on.

It could shape up into a judiciary benchmark of sorts because the new church leadership – with two pastors from abroad – and the majority of CHC followers have thrown their support behind their leaders.

A statement released by executive pastor Aries Zulkarnain said the church was standing by the five men.

“The people are our pastors and trusted staff and leaders who have always put God and CHC first,” he said.

“As a church we stand with them and I believe fully in their integrity.”

In two weekend services, 14,000 placard-carrying followers gave Kong Hee a standing ovation and a show of support.

Looking haggard, the pastor told his cheering supporters that there were two sides of the story and he would give his in court, adding: “I maintain my integrity.”

The five were charged with misconduct and mismanagement of tax-free charity funds amounting to at least S$23mil (RM57.6mil).

According to an official report, the money was intended for use to finance the music career of the pastor’s wife, Sun Ho, with the objective of winning more converts.

The case shows how vulnerable tiny Singapore is to foreign, especially Western, norms.

Many social trends from abroad end up in Singapore, including this form of money- raising religion.

City Harvest was co-founded by Kong Hee more than 20 years ago and now has about 24,000 followers, according to a Wikipedia report.

A father, who attended one of its early ser­vices with his daughter, said what he saw shocked him.

“There was a pop-style band playing deafening music – more like a rock concert than a church service.

“The congregation would dance trance-like and pop their tongues in and out in quick succession, like monitor lizards, making strange animal-like noises.

“The band music would be interspersed with instalments of a sermon, during which the pastor would cajole the congregation to donate generously, preaching that their donations would be rewarded – repaid exponentially by God.

“I saw the congregation members, mostly young men and women in their 20s and 30s, depositing cash into the donation box.”

The ultra modern City Harvest uses bright flashing lights, loud music and modern stage technology to appeal to young Singaporeans who feel bored by the quiet sermons of traditional churches.

Most of its followers are in their mid-twenties. Pre-university and undergraduates are targeted for recruitment.

Videos of past sermons show charismatic preachers such as Kong Hee conduct services like a master performer at work raising funds.

Once, he took the microphone to thank recent contributors, who included a couple selling their five-room public flat to downgrade to a three-roomer and offered S$20,000 (RM50,091) of the proceeds to the church building fund.

Another was a young man who sold his motorcycle and donated the entire proceedings. With each name mentioned, the audience cheered.

It led a cynic to comment: “They have turned religion into show business, like America’s TV evangelism.”

Prosperity theology began in the USA decades ago. It claims that financial donations were needed as proof of faith and they would increase the giver’s material wealth many times over.

In the 60s, some US mega-churches resorted to TV evangelism to reach its mass following, raking in large amounts of money.

There are several similar mega-churches here with evangelical fund-raising zeal, posing potential problems for this multi-religious country.

One is The New Creation Church, which plans to invest S$280mil (RM701mil) to build a mega-complex with a lifestyle-entertainment-cultural theme.

With some 22,000 members, the church raised eyebrows when it was reported that its charismatic preacher was paid a salary of S$500,000 (RM1.2mil).

The investigation into CHC came seven months after a top Buddhist monk, Venerable Shi Ming Yi, was convicted of misusing donated money and sentenced to nine months’ imprisonment (reduced to six on appeal).

The 2009 trial of the English-educated, high-living Buddhist monk who owned three properties and loved luxury cars showed how far the money culture had spread in Singapore.

In his trial, the 48-year-old monk told the Court that “we live in a modern world ... no longer like what it was in the past”.

When asked to elaborate, the monk said: “If people earn more, they will spend more. Many religious people, not just myself, are very different now.”

NSIGHT: DOWN SOUTH By SEAH CHIANG NEE cnseah05@hotmail.com 

Whose Policies Benefits the Country Most, MCA or DAP? Chua-Lim Debate 2.0


PETALING JAYA (July 8 2012): The second debate between MCA president Datuk Seri Dr Chua Soi Lek and Penang Chief Minister Lim Guan Eng has started at the Sunway Pyramid Convention Centre in Subang Jaya.

Dr Chua being greeted by a well-wisher upon his arrival at the hall.





















The debate started with Lim's opening remarks.

Lim: "MCA is not qualified to talk about politics here, as it is not MCA who decides - it is Umno who decides.

"The MCA speaks only for the Chinese, and those from the Peninsula - not Sabah or Sarawak.

"It is different for DAP - we want to speak for all Malaysians. Malay, Cina, India, Iban, Kadazan.

"We are all Malaysians. Look at the NFC scandal," he said.

"Who gains? The cronies. The losers are the citizens of Malaysia.

"For last 50 years, consumed by race and religion. For the next 50 years, let us be consumed with the tasks of economic wellbeing.

"BN has never spoken truthfully to the people. Let Pakatan Rakyat speak truthfully to you.

"DAP believes a clean govt can always perform better than a corrupt govt.

"If Penang dares to review the assets of the CM, why is the PM afraid of reviewing his assets and those of his ministers?" he said.

Dr Chua: "Just now YAB asked why the PM didn't want to debate with Anwar. I want to say here, it hasn't happened because he is the prime minister.

"From 2008 to 2011, the ease of doing business compared from 2003 to 2008. The fifth most favored FDI nation in Asia.

"They haven't been empty promises like those from Pakatan Rakyat. The promises were fulfilled. These three years, the rakyat has gotten what was promsied under the leadership of DS Najib."

"Anwar is full of rhetoric, no specific, short on delivery. He has to convince us to translate this rhetoric into what we call delivery.

"MCA has been involved in nation building from day one. We were the one involved in the fight against the communist insurgency, the resettlement of the Chinese in new villages, the fight for independence, the right of citizenship after independence. That's why citizens like LGE are citizens of the country.

"We laid down the foundations. We have progressed, advocated integration not assimiliation. That's why LGE is not called Sukarno Lim.

"These are history. All part of nation building. DAP has no role to play."

"What has PR done for us? No clear direction.

"Look at the four PR states, 95pc of the promise is janji janji kosong.

"Everyday tell the whole world you give hundred dollars to the old people.

"Two hundred to the newborn and they must be voters. We give 200 to our newborn babies.

"State govt giving 100, 200 are all populist policy. Does not address fundamental problem of country."

"DAP has only one thing to show. They collect a lot of money from the rakyat. Despite calls of accountability, transparency - nothing to show. Transparency, Accountability, where are they? Where has the money collected gone to?

"DAP is a camoflauge for Chinese chauvinist party."

Question: Mr President, stated number of major achievements of MCA, contributions to nation building. Yes today, many urban voters perceive MCA has not done enough. Perception that many urban voters are not supporting MCA. What would you do to try regain more support for MCA.

Dr Chua: We accept the fact this is a multiracial country and the policy of BN is the policy for balancing. DAP likes to tell the Chinese they are marginalised. The povery rate of Chinese is still lowest among three major races. Employment highest. Property ownership largest. Cannot deny in implementaion process there are people who benefit more than others, this is the bone of contention, cause a lot of Chinese to be angry with the govt and MCA bears the burden of this.

"DAP tries to portray itself as a multiracial party, but only dares to contest in chinese constituenciaes.

"Why don't you contest in multiracial constituencies? We are a mono-ethnic party, but our aims are clear.

"In this country we have to balance the needs and sensitivities of all countries. No particular race will feel happy.

"In the same way we sometimes feel govt giving too much to bumiputra. but some bumiputras not happy with govt."

Question: Many people still see DAP as Chinese-based party. Are you a Chinese party or multi-racial party, how would you try to win more support among other races if the latter is true.

Lim: From the very start we are a multiracial party. Our chairman is Indian, we have Indian MPs, have Malay MPs and state assemblymen in the past. We are fair to all regardless of race and religion. Would like MCA president know that not every Chinese rich as the MCA leaders.

Not every Chinese can apply for PR in Australia.

Don't forget that the Chinese community pays the most taxes in Malaysia.

At the same time we want to see justice and see our Malay brothers and sisters are assisted.

Why is it poor Chinese can't get scholarship but rich bumiputras can?

Dont go and talk about DAP forming a kindergarten. We are a political party to determine the future of Malaysia.

TAR College is clearest example of failure of MCA. Why was it established? Because of unfair quota policies where qualified students cannot enter public universities. so you formed TAR College. Shame on you MCA.

Dont say we haven't built low ccost housing. We have build. Don't lie.

Question:Is MCA scared of Umno

Dr Chua: I take objection to that question to say MCA is sacared of Umno. Not a fair question. If I say - and I've always said - if the state Cabinet, state exco and federal Cabinet, all the discussion are all taped. The govt should declassify the tape and then they und better the role of mca in a multiracial country.

Why is DAP so quiet about Anwar's alleged account of RM3bil, this from a statutory declaration.

This is equal partnership, let me tell you PR seize equal partnership but until today PAS have never openly endorsed Anwar as prime minister.

You can't event agree on a party common symbol and logo and register to party.

Question: I've read your Buku Jingga, stated among other things that if party win GE, forms central govt, going to abolish all road tolls, PTPTN and give income to houses that make less than 4K to make up that amount. Lots of other goodies. How are you going to implement these policies bearing in mind annual revenue does not exceed RM200bil.

Lim: This the first time I'm hearing from a minister admitting corruption cost us RM26bil. Question is, what you doing about it? Are you accepting the fact that BN permits corruption? That's why I say shame on you again.

Talk about collections from public. When DAP organises dinner, we don't give free dinners like MCA or Umno. We charge because we rely on public funds to survive. We don't steal the govt's money. That is the difference between BN and PR, the difference between MCA and DAP.

I think you need to read the right Buku Jingga, I think you read the wrong one. Abolish tolls, estimate of RM35mil. If you don't believe can be done, vote us into power and we show you can be done.

Question: On Chinese independent schools

Dr Chua: I only wish DAP is more specific as when they see a Chinese... why is it not written more clearly they will build more Chinese schools? indeopendent schools? recognise UEC?

I openly asked Anwar, are you going to build more Chinese schools? More independent scghool? pls tell me.

Because if it is from DAP, I dont trust. Why? Cos DAP will say this is not common policy framework.

Lim:We are not like MCA leaders who go to jail for cheating rakyat of its money.

When you talk about building of schools, judge by the deeds of the PR govt in Selangor and Penang. We have given land, we have given funding, we have given funding every year. If PR can give to all these schools, independent, Indian, Chinese, every year funding, why BN cannot do so?

Don't question our oppeness to allow indepndent Chinese schools.

Anwar, I cannot blame CSL because he gets his buku jingga from Chor Chee Heung, don't know what document they are reading. Maybe I should send videotape to you.

When you talk about Anwar if PR wins power he will be PM.

-------------------------------------------

PETALING JAYA: The Star Media Group will provide live coverage of the debate between Datuk Seri Dr Chua Soi Lek and Lim Guan Eng tomorrow. (8 July 2012, Sun 2:30pm)

SwitchUp.TV, The Star's web TV site, will stream the debate live at 2.30pm. Those who wish to view it can watch live from the switchup.tv here below:

Catch the streaming video of the Chua-Lim debate on the topic, "DAP & MCA: Whose Policies Benefit the Country More?" live from Sunway Pyramid Convention Centre on Sunday, July 8, 2012 at 1430-1630hrs :



The debate will also be broadcast live over the radio by The Star's radio stations 988, Capital FM and Red FM.

Another option is to listen to it via the stations' websites www.988.com.my, www.capitalfm.com.my and www.red.fm.

Updates will also be provided on The Star Online as well as via Twitter through @staronline.

The MCA publicity bureau will also be streaming the debate live through the party's website at www.mca.org.my or its official UStream homepage at www.ustream.tv/channel/mca-tv1.

Unlike the previous debate which was televised live, a delayed recording of tomorrow's event would be shown on Astro Awani and Astro AEC at 11pm on the same day.

Asian Strategy and Leadership Institute will provide video recordings on YouTube with a delay of between eight and 10 minutes.

Its senior vice-president Ng Yeen Seen said plainclothes security officers would be among the audience during the debate to ensure that order was maintained.

This is one of the security measures to be taken by Asli, which is the organiser of the debate.

“While we are not expecting things to get violent, it is important to have moves in place in the interest of safety,” Ng said.

She said there were no untoward incidents in the first debate between the two politicians on Feb 18 and the same was expected for the one tomorrow.

During the first debate on Feb 18, some of the audience turned rowdy when posing questions to Dr Chua, who is MCA president, and Lim, who is the DAP secretary-general and Penang Chief Minister.

Some were seen snatching the microphone and shouting during the debate titled “Chinese at the crossroads: Is the two-party system becoming a two-race system?”.

For tomorrow's debate at the Sunway Pyramid Convention Cen-tre, Ng said MCA and DAP would each be allocated 400 seats for their supporters at the right and left sides of the hall, respectively.

“In the centre rows, 500 seats have been sold to the public while another 100 are reserved for Asli's guests,” she said, adding that reporters would be seated at tables in front of the hall to allow them to monitor the debate.

The debate, titled “DAP & MCA: Whose Policies Benefit the Coun-try More?”, will be conducted in English in front of a 1,500-strong audience.

By YUEN MEIKENG meikeng@thestar.com.my
  
Related:

Friday, 6 July 2012

Poesy truly a great inspiration

A true-blue KL-ite who has become an international personality is now seeking to mentor the younger generation.

SHE has been a child TV star, a model, an almost singing artiste and had a couple of multi-millionaire boyfriends to boot but yet Poesy Liang has pushed everything aside to become a mentor and a game changer.

This Imbi girl, who was raised in the heart of Kuala Lumpur, is quite a socialite who counts many rich and famous as her close personal friends. In fact, on the eve of my interview with her, Poesy had Isabella Soliano over to help her clean her house after a leaking roof episode. (Isabella, a popular jazz singer, is the daughter of the late Alfonso Soliano who was a well-known musician and composer in the 1950s and 60s.)

But yet, I had never heard of Poesy until about a week ago although she looked familiar. She was the face of the Levis jeans adverts over 20 years ago when she was just 14 years old. She also hosted RIM Chart Show in 1998 on ntv7.

But for the life of me, I did not know who she was and what she had done. A quick research on the Internet showed that there has been quite a bit written about her and she does have thousands of friends on Facebook.

She has lived a life that would fill several lifetimes but Poesy has had several life-changing moments that act as milestones which have kept her reinventing herself.

Her health issues, immature decisions, rich boyfriends and artistic capabilities have turned this 37-year-old woman from a spoilt brat into a person who is aware of her surroundings and the need to play an active role to help shape the world.



One cannot help but admire Poesy’s gumption after hearing of her health problems – tumours grew in her spinal cord and she was left paralysed after two surgeries. She has been having tumour growth since 1992 when she was at the height of her popularity at age 17.

Then within a year she learnt to walk again but “I walk visually because I have no more feelings in my legs.”

But it all came crashing down when in 2003 she needed another surgery for the same problem.

“I had to learn to walk all over again. The second time wasn’t any easier but I was determined to do it,” said Poesy.

Three years later she had to go to Stanford University for a “clean-up surgery” to tackle the rest of her spinal tumours. She was treated by the inventor of Cyberknife surgery, neurosurgeon Dr John R. Adler using that very technology. It cost US$80,000 (RM253,000) and before she could raise enough money for the treatment, Poesy broke up with her rich boyfriend “because I did not want him to think that I was sticking to him just for the money”.

“I am grateful for the assistance he and his family gave me but I needed to do this on my own.”

Poesy did not come from a rich family but it was one of the pioneers of Jalan Imbi back in the 1960s. She still lives in her family home which she has also turned into her art studio.

On Aug 30, 2007, Poesy set up the Helping Angels movement — an NGO with a loose connection of volunteers held together through a Facebook page — to recruit volunteers to do welfare work.

“There are four exclusive rules in Helping Angels — no involvement in fund-raising or collection of donations, no commercial marketing activities, no political rallying activities and no religious evangelism.

“All activities are funded privately, to offer opportunities for volunteers to use their ability and time to help others,” she said.

The phrase “random act of kindness” is repeatedly used by Poesy during our interview and she defined it as “the donation of time and effort, with less emphasis on material and money charity.”

In five years, Poesy’s movement, which now has over 2,200 members, has spread from Malaysia to Indonesia, Thailand, Taiwan, the US, Europe, Africa and Hong Kong.

At home, Poesy and her fellow volunteers have started Thursday Tutoring — a programme to tutor children at various shelter homes around the Klang Valley.

“Helping Angels travel with me. Everywhere I go I try to do a random act of kindness. Like when I was in Senegal, I bought small boxes of colour pencils and pieces of paper and gave it to the kids I met in a poor area.

“One of the mothers asked me why was I doing this crazy thing and I told her that who knows maybe from all the kids who got the colour pencils, one of them may turn out to be a great artist,” Poesy said as a way to explain the Helping Angels movement.

Her next project is called the Green Humanity for the Environment.

“We want to show that there cannot be compassion, kindness and empathy towards humanity without showing compassion, kindness and empathy towards Mother Earth.

“We will be coming up with Random Acts of Kindness towards Mother Earth,” said Poesy, who points out that all these projects come from other members of Helping Angels.

Asked about today’s youth, Poesy said she enjoyed mentoring them because “the youth of today are leaders of tomorrow and I definitely want to change the world.”

There is a real Asian drama series to rival the best Korean soap opera to be gotten from Poesy’s life and knowing her, she will probably want a famous actress to play the lead role.

Why not? She is an inspiration.

WHY NOT? By WONG SAI WAN saiwan@thestar.com.my

Related: 
Poesy Liang « Mentorship : Do Something Good

Thursday, 5 July 2012

How To Transform Your Industry

Most entrepreneurs don’t spend enough time trying to come up with radically new products.

Why? Because they don’t think they can.

They believe that because they’re in an old, conservative industry, they have no chance of coming up with anything new and different.

They feel that everything has been invented. That there’s no new way to do business or design a product or service.

There’s a good reason they think this: in many industries there has indeed been very little change. But just because the industry hasn’t changed, it doesn’t mean it can’t.

And those that have the courage to come up with revolutionary new products are often rewarded with millions in additional profits for their efforts.

Here is a new example of just such a breakthrough.

You couldn’t get a more boring, staid industry than the envelope business. There’s basically been no change in the design of an envelope for 80 years!

But suddenly along comes Flavorlopes: fruit flavored envelopes!

They solve a real problem – people hate licking envelopes. Now with Flavorlopes you can enjoy licking envelopes with the following flavors: Apple. Cherry, Grape, Orange and Strawberry.

Bang. Just like that, an industry is changed.

Now I’m the first to admit this is not a product breakthrough of the magnitude of the personal computer or the disposable pen. But hey, it’s not a bad effort for the envelope business.

Will people buy them? Of course they will. Is the company that makes them likely to grow a lot in the next 3 years as a result of their originality? You bet. And they deserve to, because unlike the other thousand envelope companies in the world they showed real guts and creativity.

Who dares wins.

How about you? How is your new product creation going? Has it been years since you came up with anything novel for your industry?

Well maybe today is a good time to start. Why not allocate just 15 minutes a day for concocting new product ideas.

Heck, it’s only 15 minutes out of the 600 or so you work every day. Not much at all, but it may just change your industry.

You may not be in the envelope business. But you may end up licking your competition.

Siimon Reynolds
Siimon Reynolds, Forbes Contributor

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British rivate banks have failed - need a public solution

Private banks have failed – we need a public solution

The Barclays scandal has underlined the City's unmuzzled power. But it also offers a chance to take democratic control

Bob Diamond, who resigned as chief executive of Barclys on Tuesday, is fighting for a payoff of over £20m. Photograph: Dylan Martinez/REUTERS

The greatest danger of the rate-fixing scandal now engulfing the City of London is that it will be managed and defused in the usual way, and nothing will really change. Tuesday's forced resignation of Bob Diamond, the Barclays chief executive, follows well-worn procedures for dealing with crises that potentially threaten those in power: denounce the worst offenders, let a few symbolic heads roll, set up an inquiry under a safe pair of hands, and tweak the regulations to prevent a repetition of the most egregious misdemeanours.

That's been the pattern of the past few years as Britain's establishment has lurched from the disaster of the Iraq war to the disgrace of parliamentary expense fiddling and media phone-hacking (though in the case of Iraq, the only heads to roll were BBC executives and an army corporal). As for the banks that triggered the greatest economic crisis for 80 years, they have been bailed out and featherbedded, with only the loss of the odd sacrificial City baron to show for their reckless mayhem.

But we can't afford to allow such political dereliction again. The racket revealed around the rigging of the crucial Libor inter-bank interest rate – affecting $500tn worth of contracts, financial instruments, mortgages and loans – has underlined the scale of corruption at the heart of the financial system. It follows the exposure of the mis-selling of dodgy derivatives and payment protection insurance, voracious tax avoidance and last month's breakdown of the RBS-NatWest basic payments system.

It's already clear that the rate rigging, which depends on collusion, goes far beyond Barclays, and indeed the City of London. This is one of multiple scams that have become endemic in a disastrously deregulated system with inbuilt incentives for cartels to manipulate the core price of finance. Not only that, but the rigging has been public for years – it was first reported in 2008 – and no action has been taken until now.

That echoes the phone-hacking scandal, which erupted eight years after Rebekah Brooks told parliament News International was bribing the police and her admission was entirely ignored. On Tuesday Barclays sought to implicate Whitehall officials in its rate-rigging in 2008, and an angry Diamond, fighting for a payoff of over £20m, can be expected to go further when he appears before the Commons on Wednesday.

As they did with the Murdoch press, politicians who have abased themselves before the financial elite are now denouncing corrupt bankers and each other for failing to bring them to heel. David Cameron, whose party relies on City donors for more than half its income, wants a narrowly Libor-focused parliamentary inquiry to avoid the bigger picture and focus blame on New Labour's enthusiasm for "light touch regulation" in the runup to the crash.

Ed Miliband is rightly pressing for a much broader, Leveson-style public inquiry into the entire banking system. But the reality is that the whole political class embraced deregulated finance in the boom years. While Tony Blair and Gordon Brown pampered the banks, George Osborne and the Conservatives were demanding still less regulation, and even the Liberal Democrat Vince Cable, now the bankers' scourge, endorsed a financial "light touch".

This is yet another disgrace for the country's governing elites. The new revelation of corruption comes after the exposure of the deception of the Iraq war, fraud in parliament and the police, the criminality of a media mafia and the devastating failure of the banks four years ago. It could of course have happened only in a private-dominated financial sector, and makes a nonsense of the bankrupt free-market ideology that still holds sway in public life.

Political and business powerbrokers insist it's all a problem of leadership, bad apples and a culture that has gone awry. But such cultures are generated by structures and systems – and in the case of the City, deregulated short-term profit maximisation has as good as required them. It's certainly necessary to have a clearout of City bosses, prosecutions and wide-ranging inquiries, but only far-reaching change will clear this cesspit.

The financial system has already failed at huge economic and social cost. It has been shown to be corrupt, incompetent, rapacious and economically destructive. The City's claims to be an indispensable jobs and tax engine for the British economy are nonsense: the bailout costs of 2008-9 dwarfed the financial tax revenues of the boom years, which were below those of manufacturing even at their peak.

In fact, the banks are pumped up with state subsidies and liquidity that they are still failing to pass on in productive lending five years into the crisis. A crucial part of the explanation is the unmuzzled political and economic power of the City: its colonisation of Whitehall and public life, effective grip on its own regulation, revolving-door pull on politicians and civil servants, and purchase of political parties. Finance has usurped democracy.

The crash of 2008 offered a huge opportunity to break that grip and reform the financial system. It was lost. The system was left as good as intact, and even the part-nationalised banks, RBS and Lloyds, have since been run at arm's length to fatten them up as quickly as possible for re-privatisation (savage RBS cost-cutting lies behind its humiliating performance last month), instead of as motors of investment and recovery.

The rate-rigging scandal now offers a second opportunity to build the pressure for fundamental change. That's hard to imagine being carried out by a coalition dominated by the City-funded Tories, but Labour has also yet to break fully with its pre-crisis economic model.

Tougher regulation or even a full separation of retail from investment banking will not be enough to shift the City into productive investment, or even prevent the kind of corrupt collusion that has now been exposed between Barclays and other banks. As a report by Manchester University's Cresc research team argues this week, the size and complexity of the modern banking system makes it "near ungovernable".

Only if the largest banks are broken up, the part-nationalised outfits turned into genuine public investment banks, and new socially owned and regional banks encouraged can finance be made to work for society, rather than the other way round. Private sector banking has spectacularly failed – and we need a democratic public solution.

• This article was amended on 4 July 2012. The original misspelled Rebekah Brooks's name as Rebecca. This has been corrected.

Wednesday, 4 July 2012

Eureka! God particle may exist!

  • Scientists 'will say they are 99.99% certain' the particle has been found
  • Leading physicists have been invited to event - sparking speculation that Higgs boson particle has been found
  • 'God Particle' gives particles that make up atoms their mass
  • Fermi Lab in Chicago also 'closing in' on proof of Higgs boson
By Rob Cooper

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Eureka! Cern announces discovery of Higgs boson 'God particle' »
It was a breakthrough that took almost half a century of deep thought, more than 30 years of painstaking experimentation and a massive £2.6bn machine. Yesterday, scientists said they believed they had...

Physicists celebrate evidence of particle 



To cheers and standing ovations, scientists at the world's biggest atom smasher have claimed the discovery of a new subatomic particle.

They say it's "consistent" with the long-sought Higgs boson that helps explain what gives all matter in the universe size and shape.

"We have now found the missing cornerstone of particle physics," Rolf Heuer, director of the European Centre for Nuclear Research (CERN), told scientists.

He said the newly discovered subatomic particle is a boson, but he stopped just shy of claiming outright that it is the Higgs boson itself - an extremely fine distinction.

"As a layman, I think we did it," he told the elated crowd.

"We have a discovery. We have observed a new particle that is consistent with a Higgs boson."

The Higgs boson, which until now has been a theoretical particle, is seen as the key to understanding why matter has mass, which combines with gravity to give an object weight.

The idea is much like gravity and Isaac Newton's discovery of it - gravity was there all the time before Newton explained it.

But now scientists have seen something very much like the Higgs boson and can put that knowledge to further use.

CERN's atom smasher, the $A10 billion Large Hadron Collider on the Swiss-French border, has been creating high-energy collisions of protons to investigate dark matter, antimatter and the creation of the universe, which many theorise occurred in a massive explosion known as the Big Bang.

Two independent teams at CERN said on Wednesday they had both "observed" a new subatomic particle - a boson.

Heuer called it "most probably a Higgs boson but we have to find out what kind of Higgs boson it is".

Asked whether the find is a discovery, Heuer answered, "As a layman, I think we have it. But as a scientist, I have to say, '"What do we have?'"

The leaders of the two CERN teams - Joe Incandela, head of CMS with 2100 scientists, and Fabiola Gianotti, head of ATLAS with 3000 scientists - each presented in complicated scientific terms what was essentially extremely strong evidence of a new particle.

Incandela said it was too soon to say definitively whether it is the "standard model" Higgs that Scottish physicist Peter Higgs and others predicted in the 1960s - part of a standard model theory of physics involving an energy field where particles interact with a key particle, the Higgs boson.

"The" Higgs or "a" Higgs - that was the question on Wednesday.

"It is consistent with a Higgs boson as is needed for the standard model," Heuer said.

"We can only call it a Higgs boson - not the Higgs boson."

Higgs, who was invited to be in the audience, said he also could not yet say if it was part of the standard model.

But he told the audience the discovery appears to be very close to what he predicted.

"It is an incredible thing that it has happened in my lifetime," he said, calling it a huge achievement for the proton-smashing collider built in a 27-kilometre underground tunnel.

The stunning work elicited standing ovations and frequent applause at a packed auditorium in CERN as Gianotti and Incandela each took their turn.

Incandela called it "a Higgs-like particle" and said "we know it must be a boson and it's the heaviest boson ever found".

© 2012 AP

Video preludes Higgs boson announcement
http://newscri.be/link/1779202 - PHYS.ORG.COM