Romainian Prime Minister Victor Ponta's adviser Damian Draghici is not a household name in Britain, but his ability to cut through right-wing rhetoric merits respect.

Draghici's suggestion that British politicians should worry more about "bankers who steal billions than Roma who beg on the streets" hits the nail on the head.

Governments kow-tow to the tiny but affluent private banking "community," lifting regulatory controls as demanded, assisting aggressive profits accumulation, lowering tax liabilities and, when it all goes pear-shaped, using workers' taxes to bail them out.

Gordon Brown and Alistair Darling devoted £1.3 trillion to rescuing the private finance bodies that were supposedly too big to fail.

Labour, Tory and Liberal Democrat front benches united to eulogise bankers dedicated to boosting corporate profits by any means possible and they defended these cowboys' determination to reserve these gains to a select sector of society and to minimise their taxes through offshore tax avoidance havens.

Despite the financial belly-flop and scandals related to interest rate rigging, insurance mis-selling and refusal to loan money at affordable rates to small businesses, private bankers are still government's go-to people.

Whether it's carrying through privatisation projects, membership of policy think tanks or offering advice on tax changes, private bankers' phone numbers are at the top of ministerial speed-dial lists.

The media gives credence to commentators who prattle about whether policies are acceptable to "the market," as though market forces were sentient beings.

The priority for bankers, as with capitalist media and politicians, is corporate profitability. It is common sense for an elite minority.

The minority's problem is how to ensure that the vast majority of society that exists only by selling its labour power can be won to support for - or at least tolerance of - the elite agenda.

That's where Prime Minister Portas's citizens enter the frame, along with their Bulgarian counterparts.

Don't worry about City bankers' greed, politicians and media unite to advise. That's the normal way of things.

Concentrate on the billions of aliens from south-east Europe due to flood into Britain, nicking your jobs, living on benefits, supplanting British beggars, jumping housing queues and spearheading a crime wave.

None of this is true, but the strength of the arguments lies not in their factual basis but their ability to scare working people who already see living standards falling, employment growing more precarious, services axed and the gap between inflation and wages widening.

Searchlight director Gerry Gable's description of the media campaign as "hysterical rantings" sums it up to a T.

Why are the politicians and press barons most concerned about the effect of Romanian-Bulgarian immigration on working people's jobs, homes and living standards also united in resisting investment to boost employment, fund a council housebuilding programme and raise the minimum wage to a living wage?

Because such plans are a pipedream that is unaffordable? Absolute rubbish!

The money is there. British business is sitting on cash assets of hundreds of billions of pounds that it refuses to invest in social development.

Increasing corporation tax, bringing in a 2 per cent wealth tax, hitting energy, retail and banking super-profits with a windfall tax and abolishing tax havens in British-controlled territories would provide the necessary investment.

Right-wing politicians and media wouldn't like it. Nor would "the market," but it is a far more honourable and just approach than racist scaremongering about workers from other countries.