“Democracy is not enough. We need to hold corporations to account,” says Billy Bragg. While democracy may or may not be enough, contra Bragg, in the City of London –where the Bank of England is located and Bragg is set to deliver a speech on accountability – democracy would make a huge difference not just to the residents of this rotten borough, but the entire world. It isn’t clear whether Bragg doesn’t know or doesn’t care that the 80% of City of London councillors are ‘elected’ on undemocratic business votes and that local residents have virtually no say in the running of the area. Bragg implies we already have democracy when we don’t. It’s also significant that the rotten borough Bragg’s being feted in is the power base from which the finance industry plots its course of state capture and tax havenry around the world. Establishing democracy in the City of London by – among other things – abolishing the business vote, would do much to curb the unchecked power of the wealthy elite’s financial lobby.