Monday, 20 December 2010
Thanks to ASE
There is a better way. Two of Britain's biggest banks and one of its main building societies collapsed in October 2008 - over two years ago. We, the taxpayers had no choice because our PM at the time decided he should use our hard-earned money to keep them afloat. In fact, it was suggested in various quarters that there were deals done behind closed doors with Lloyds TSB.
More than two years on we have students protesting because they may have to pay higher fees. Many reports say only around 25% of them will pay the full fees yet they decided to take to the streets. They have every right of course, yet perhaps they should have been protesting against the bankers who brought the country to its knees.
Banks insist they're doing they're best for their customers. We all know they're not. The only people they're interested in is themselves and that will continue until we have firm command of their greedy and irresponsible behaviour, including their bonuses.
Politicians refuse to do much but pay lip service to the banks. A wee bit extra taxation and a plea not to issue 'large' bonuses is as far as they're prepared to go. Self interest is far more important than the interest of voters.
Isn't it wonderful, seven months after the UK elects a new UK government, we're no further forward, 26 months later, in dealing with the crux of our financial downfall. The saying 'You scratch my back and I'll scratch yours' springs to mind. Vince Cable, if he wants the LibDems to keep any credibility, needs to officially nationalise the banks who survive on taxpayers' money. It's time we called their bluff. Let's see how many decide to move elsewhere.