The Vickers Report on the future of banking has been published this morning, and guess what? Your money, my money, our money will still be used to finance the gambling of the Nazi banks that has caused the current financial crisis.
Yes, there will be some ring-fencing. But our savings and deposits can and will still be used as collateral, because the retail and investment arms of banks will not be split. So the banks can still gamble with our hard earned money, but only a little bit less.
In the early days of investment banking a few wealthy bankers would form an investment bank and they would invest their own money. If they won, they won. But if they lost they lost their own money and not ours and could therefore not go crying to the government to be bailed out.
But modern banks do not operate like that anymore. Our money is used as collateral. If the banks win they win and take the profits. But if they lose then they get bailed out with our money (of course) and then we suffer severe austerity to pay for the bailouts while the bankers bathe in luxury on their large yachts on the Mediterranean Sea.
And this is why the Vickers Report is being welcomed by not only the banks but their supporters like the Oik. The banks can carry on gambling with our money AND have a long long time to implement the recommendations, during which time another banking crisis could very easily occur, in which case we will bail them out again and again and again...
But London looters immediately get disproportionate sentences (didn't one man who took some ice cream get locked up for a first offence?) while the banks and bankers that have caused the current financial crisis, forcing many unsuspecting innocent British taxpayers to bail them out and pay for the privilege in slashed social and health services, and increases in unemployment and homelessness, have nearly a decade to reform themselves and nobody, repeat nobody, gets locked up!!
We're all in this together?
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