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Friday, 19 November 2010

why i feel the banks should suffer more

They are the people and the institutions throughout this financial crisis who have got off scot free. Anytime there is a bank that goes wrong the governemnt rush to put out its fire by throwing money at them.

The great capitilist institutions they are they should be able to look after themselves.
I say enough is enough we put up a banking levee to a good 40% i suggest and tax them through the hilt. After all we as the public deserve our money back for what we lent them when the banks needed bailing out time after time.

These are the real people who got us into the mess we are in now. Not labour not any polititian it was the banks. Their wreckless risk taking and lending of huge proportions to people who cant pay it back with huge interest rates on some mortages is just unacceptable too long now have the banks been taking the western world for a ride.
For something which started in America we must send the shockwave back the other way we wont stand for banks being wreckless with our money. Money must not be wasted on proping up banks if all they are going to do is pocket it and give themselves huge bonus' still. It is a insult to the ordinary worker in this country that their money has been spent on proping up the banking sector only for them to reward themselves bonus's.

To me bankers and stock brokers shuld get a wage which is fair to the job they do. If they do well for their job fine but no bonus's of silly nature. Any bonus's they do make the majority of it should be taxed and put back into the public coffers for reinvestment in our schools and hospitals.

I just think the banks have a nerve to hold us to ransom threatening us they will leave if we tax them too much. Sorry but if they want to leave i think we should let them. As long as we have our money back first. Then new fairer possibly even greener banks can be created with stricter rules on lending and less risk taking.

I would love to see the end of big bonus culture in this country it sends out totally the wrong message to the rest of us who are facing hard times right now.

I think capitalism is broken and the rich have no idea how to fix it so they just chuck even more money at it. This is not the answer. I do advise people to look at the New economics foundation. Please look them up they have some great ideas how to reform our banks and how to get better value for money.
right now our finances are broke and i think they will take a long long time to recover if we dont learn from our mistakes of the past.

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