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UK government too tough on banks?
Published: 13 December, 2009, 09:10
Edited: 14 December, 2009, 13:25
TAGS: UK, Crisis Chronicle, The Resident, Finance
The UK government has issued a one-time 50% tax on bank bonuses that are worth over £25,000. Lori “The Resident” Harfenist has asked New Yorkers if they think it is fair.
12.12.2009, 17:30
1 comment
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It's totally unfair and possibly lunacy to even pose the question. I can't talk for the US but in the UK bankers have crippled the whole Country. What's more, some of them commited fraud against their own customers in their efforts to feather their own nests. For example, it is a fact the FSA is investigating a major fraud at the British bank HBOS committed between 2002 - 2007 and subsequently covered up by HBOS, Lloyds and the British Government. In October 2009, a Dossier about this fraud was prepared and sent to the FSA, the Treasury Select Committee, Mervyn King, Alistair Darling and the many MPs who held a debate in Westminster about the fraud, in June 09. The Prime Minister was sent details of it on the 6th October 2008 - the same week HBOS was secretly bailed out for £25.4BN. Last week one of the top people at Lloyds Banking Group admited he and the other Senior Executives at lloyds knew they were buying a dead duck before the merger with HBOS went through - but they didn't tell the shareholders who had to vote on the merger. And has there been outrage at this? Has there been questions in the House of Commons? Has anyone in the British press pointed out the share holders were conned? NO. And now the debate has turned to bonuses - yes or no? The recession can only end in total bankruptcy for all (except bankers and politicians) and riots in the streets unless something serious is done about these 'monsters of the universe'.
Here in the UK we are fed up with the 'fat cat' bankers and the ridiculous sums of money that the Government has given to the banks to bail them out. Nearly all the so called 'high street' banks (which most UK citizens have their accounts with) are now either majority owned or part owned by the government. These banks owe the Government - or rather the UK tax payer as it is our health money & public services money - billions upon billions of UK pounds. We have massive unemployment, which is still rising, a public services shortfall for next year, and a pension and health care time bomb, plus house repossessions by the thousand, yet these bankers - who seem to live in an alternative reality - want to pay themselves countless millions in bonuses. Any spare money should be used to pay back the tax payer and fund credit for those in need - not to line the pockets of already wealthy individuals. The government are trying to quel the public dissent that is growing by taxing the bankers - but this is not enough. To be honest most British tax payers would like to see the bankers all sacked and a fresh start made - but that is never going to happen.
The American BANKSTERS/GANGSTERS have total control of America's monetary system through it's elected officials, from the top down. Decency ended years ago and now they flagrantly exploit our country. Many of the crooks are not even American citizens. Our only hope {if there is any} would be to vote corrupt/deceitful office holders out of office. They are mostly lawyers {SLICK ONES} and play every dirty game possible to stay in their lucrative government positions. This is so UNAMERICAN and dangerous to the country. The people's will is totally ignored by those in power. We can never expect our elected officials to do what is right and take back all the stolen wealth Wall street thieves have made off with. Our government simply does not have the courage or will. Far too much campaign money has changed hands to expect anything that is fair to the American citizens to ever happen.