Bankers bonus's a symptom not the cause

The recent 'Hesteria' has been revealing. The Tories, majority funded by the City, went on about 'fairness' and bankers' bonuses but failed to challenge RBS boss Stephen Hester's £1 million bung.
The huge anger about Hester's bonus was reflected in the over 80,000 signatures collected in 48 hours demanding its non-payment. In the end Hester rescued a flailing Cameron by saying he wouldn't take the cash. Undoubtedly, securing his less well-advertised £3.3 million payment figured in his calculations.


The anger out there towards bankers is certainly growing I’d say but many including the labour party feel that just challenging bankers bonus’s this will create a more responsible capitalism and we can all go back to before the crash of 2008. Wrong very wrong the bonus system is a symptom of the system of capitalism and finance capitalism in particular. Labour seem to forget they allowed all these bonus’s to go on during their watch, now they are railing against it all. Hypocrisy much ?


The reality is that Hester is not unique in being offered a multi-million bonus. Barclay's Bob 'no more remorse' Diamond is in line for £10 million! And obscene pay does not just exist in banking - average FTSE executive pay is £4.2 million.
Would-be pension thief and Unilever chief exec Paul Polman receives £3.5 million a year, including £300,000 into his own pension. Last year, the man who earns 285 times more than his workers, said: "What I want is a sustainable and equitable capitalism."
"Pious baloney!" Although this is reactionary US Republican Newt Gingrich's phrase, it does sums up the politicians' current fashion for fulminating on inequality while, in reality, carrying through the impoverishment of millions.
Why this fixation? While planning no deviation from staggeringly savage austerity, the bosses and politicians fear our rage. The tip of the enormous iceberg of this rage made itself known in 2011 in the ever-expanding Occupy movement but especially in massive general strikes.
They fear these movements will pose a threat to their profit system and hope that showing some concern will stave off the oncoming challenges. But they're wrong.
Labour leader Ed Miliband's talk of 'good' and 'bad' capitalism is baloney - capitalism is a system based on exploitation and profiteering. The TUC has revealed that workers have lost an unbelievable £1.3 trillion in wages over the last 30 years as the bosses grab an ever greater share of the wealth in profits.
We need to build a mass movement to fight for genuine socialist nationalisation of the entire banking system and the big corporations, putting the levers of the economy in our hands - not those of the super-rich.

That has to be part of a democratic plan, coordinated with workers internationally.

The lengths capitalists will go to protect their system

Every ruling class has attempted to give the impression of its here to stay and it will always be this way but we know its not true. Capitalism hasnt always been around forever as in the fture it will not be around forever. We are passing through a turbulant period of heightened class struggle where teh capitalist system is rocking at its very core. It is strugglign to find anyway out of this crisis it finds itself in.

As i blogged about the other day the lengths capitalists will go to to protect their assets is extraordinary. Lord Ashcroft the tory peer went to great lengths to hide his shady dealings.

So in the future to save the capitalist system with more and more general strikes in country after country i can see a situation where the capitalists turn on eachother. The ruling class has been known to turn oon each other. They can work together but not like we the workers do with our class solidarity they use ita s a means to a end.

As we always say as socialists the bourgeoisie have no hang ups about ditching democracy when it suits to preserve their system from meltdown. It may seem remarkable to us ordinary folk but what matters more to them ultimatly ?

it is the continuation of the wage labour system of exploitation of workers and their labour for the benifit of a rich minorities profits.

That's why i can see a situation where if the financial capitalists are causing too much grief for other capitalists say industrial capitalists and its affecting their profits somewhat i can see them turning on eachother and really going after the banking sector in a way. Just look at this week it may seem all hot air at the chief executive of RBS Steven hester who turn down his bonus which he would have got in shares anyway. There is clearly a feeling within the ruling class that the bankers may have to take the wrap for getting them into this situation.

Now dont think oh they have suddenly become socialist and believe in our ideas this is purely to prevent revolution in the future when teh mass's are banging at teh door demanding action to be taken. This false if you like anger at the bankers from capitalist polititains is clever as it looks like they are taking them on but in reality they wont be. They may sacrifice a few as symbols of them looking tough but ultimatly the basis of the capitalist system will be preserved as best they can.
So we must be wary of any little tactic or ploy the capitalists employ and be intelligent to realise when we are being mugged. As teh capitalist system will not collapse on its own as Marx said there is no final crisis of capiatlism if not over thrown by a revolution of the mass's taking power then capitalism will ultimatly find a way out even if that is long tough and drawn out and painful for many.

Its teh choice we face in the coming years how do we take on capitalism and hit it wheer it hurts. Only by mass action of the united working class can we have a impact. General strikes occupations, dividing the state and looking to expose the system whereever we can will be key.