Time for new beginning according to Cruddas

It is the tax payer who has stood between capitalism and its self-inflicted collapse. With credit frozen and the banks unwilling to lend, the government is being pushed toward the role of sole lender. Capitalism has been rescued by people's taxes and it will be dependent on them for its survival. It's time for capitalism to be made accountable to democracy, and it's time for democracy to renew itself and make itself fit for the challenge.

The words of John Cruddas writing in the Guardian this morning but it is more about the future and when we statrt to come out of the downturn it will not be business as usual.Instead he writes

We must tackle the recession by laying the foundations for ecologically sustainable and equitable economic development. It will mean creating a
democratic and responsive state, devolving power to local government and renewing our civic institutions of social trust and security. Society needs to reassert itself over the market economy.