"... it would be to ignore all history to presume that the super-rich, or their trust-fund children, or their plutocratic children's children won't endeavour to convert a fraction of their fortunes into control of the media, sponsorship of lobby groups or seats in Parliament. Their big financial boots will become big political boots. It is irrelevant whether you think that they will do ill or good with their new political power. The accumulation of vast wealth by a growing class of super-rich - who owe no allegiance to any state - is a regressive trend for the distribution of power. It will taint governance and distort democracy."
Please click here for Robert Peston's blog.