A Senior Moment: What do these credit agencies contribute?

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It was good to see sanity prevail with local General Practitioners ignoring the BMA’s call for strike action (Mercury, June 2).

Other parts of the country were not so fortunate and will doubtless be feeling the impact for weeks to come.

What this old codger would like to know is, how it is possible for a union to ballot its members, get replies from under half of them and then still go ahead with strike action?

Unless the remnants of my schoolboy mathematics are as bad as Education Secretary Michael Gove would have us believe and Labour’s education spokesman Kevin Brennan’s appear to be - judging from his Commons blunder last week (when he calculated three out of ten pupils equalled 60 percent) - less than a third of doctors wanted it any way.

There is clearly a job waiting for Mr Brennan at the BMA!

This is not the first time a union has taken unilateral strike action on a minority mandate.

Surely it is time to legislate that majority support is required before causing disruption and chaos?

We have far too many problems as it is without union bosses flexing their muscles.

And speaking of the tail wagging the dog, can any bright sparks out there tell me how come credit agencies can downgrade 15 global banks and financial institution at a stroke, creating financial shockwaves throughout the world?

Who are these people? What are they contributing to the global economy? Are they staffed with whiz kid wizards or a bunch of financial failures?

Who needs them? Why do they seem to wield so much power and influence?

We are told Moody’s latest actions could cause higher mortgage rates creating even more misery for cash strapped families and more problems for hundreds of thousands of small businesses.

How can our economy ever improve when we keep getting bashed over the head with all this negative nonsense?

And why on earth should we take any notice of them anyway - they don’t exactly have a good track record?

Did they issue dire warnings of impending disaster? Did they tell us of toxic trading and bacchanalian balance sheets?

Not on your Nellie they didn’t. No wonder they have come in for a good deal of criticism lately and are being investigated by the Treasury Select Committee of MPs.

And no doubt a fat lot of good that will do. Oh well, it’ll make a change from Levenson I suppose who, judging by recent events, doesn’t take too kindly to criticism either!

From the forgoing it will be obvious my financial acumen is as astute as my technological know-how.

Guess who ordered 900 litres of heating oil a few weeks ago only to see prices drop by almost 30 per cent!