There’s only one set of people who should pay off the debt they owe to the British people and that’s the bankers to whom it was lent in the first place. or was it given to them ???Tthis quote from The Sctosman gives an idea of the problem Cameron has in supporting his cronies, the other 18 billionaires in the cabinet and his banking friends …
Mr Balls said: “(Chancellor] George Osborne boasted he was the man to curb excessive bank bonuses, but nine months into office it is clear he has been all talk and no action.
“As Osborne is discovering on the economic recovery and now with the banks too, sound and fury signify nothing. What matters for chancellors is whether they deliver and get results.”
He added: “They should re-think their plan to give the banks a tax cut this year and adopt Labour’s plan to repeat last year’s £3.5bn bonus tax, and use the money to boost growth and help create the jobs we badly need this year.”
Mr Scott called on the government to take action to restrict bonuses or risk alienating the public. “Hard-working families facing uncertain futures won’t understand why the people who put us in this lurch are let off,” he said. “The government should reconsider the options they have for further action in the Budget.”
Some of Britain’s banks are expected to pay a cumulative of £6bn in bonuses in the coming weeks, ignoring calls for restraint in the aftermath of the financial crisis and in the face of wide-ranging cuts to public services.
This includes an anticipated £9 million for Barclays’ chief executive Bob Diamond, which will be decided by the bank’s board this week. Another big beneficiary will be Stuart Gulliver of HSBC, who is in line to receive £8m. Eric Daniels of Lloyds Banking Group and RBS’s Stephen Hester are each expected to receive £2m.
How can we be so gullible as to go along with what we hear on the news about how we all need to pull together to repay a debt we paid off for a load of vicious gamblers who Mervyn King “accuses [them] of routinely exploiting their millions of customers. “If it’s possible [for financial services firms] to make money out of gullible or unsuspecting customers, particularly institutional customers, [they think] that is perfectly acceptable.”
King went on to say of society’s attitudes and those of the banks … Everyone got to the point where we no longer expected government to bail us out.” He says this changed with the banking crisis. ‘But, surprise, surprise, the institutions bailed out were those at the heart of the crisis. Hedge funds were allowed to fail, 3,000 of them have gone, but banks weren’t,’ he says.
We have to grow up. We have to learn to say “the emeperor has no clothes”. We cannot go on believeing the spiel we get from politicians who have only their own axe to grind and are spinning for our votes. And the news media who are only interested in numbers of viewers/readers/listeners.
The banks – who got us into this mess – must pay up to get us out.