We should not replace pity with fear in our relationship with the working class. It is a source of shame that Labour did not and does not represent t… - Maurice Glasman, Baron Glasman

Over a period of 500 years the City has supported deregulation at every turn. The consequences of this are massive. You had fraudulent products – the cause of the crash – debt being repackaged as an asset and then being used as leverage. The assets they held and credit they generated were on a ratio of 50-1. There was no effective regulation of this, no effective oversight. They have been exposed by the bailout. They have refused more than ten years of requests from us [London Citizens UK organisation] and suddenly they agree to meet. I think they are concerned that the political parties will move to a more manufacturing, less financially-based economy.

Labour has always been a coalition between workerist and progressive elements, liberals and conservatives, mediated by socialism. It was held together by the belief that we are social beings who resist the domination of capital through democracy; and by the refusal to accept that human beings are a commodity or that our inheritance is exclusively monetary.

What I've learnt is when you walk into a family argument and people tell you it's about principle don't get involved. There is more to life than principles.