Time To Stick A Stake In The Banks
The british taxpayer is to take a huge stake in the main high street banks of this country. Somewhere deep in the treasury someone is wting cheques for 37 Billion pounds to help support the banking industry. We didn’t do this for the car industry when they were in trouble we watched as the government allowed british steel go down the pan. The shipyards nearly all closed and manufacturing in all types of industry moved abroad.
We were in a new era of the service industry. We were told that it didn’t matter that the manufacturing jobs were disappearing because we were to take on the world of highly technical service industries. The financial sector was wooed to encourage them to develop over here and any critism of high pay and bonuses was, we were told, not helpful since these highly paid and very bright people would have gone elsewhere in the world.
Now some of those same people who were telling us how wonderful and beneficial the financial industry was are putting billions of pounds into that same industry to try to support it and prevent the whole uk economy from going into meltdown. As the old saying goes, we live in interesting times.
It is clear that the whole banking sector had completely lost the plot. The mind blowing bonuses were surely a sign that things were not right. The banks should surely have been aware, more than any of us, that money does not grow on trees. You cannot simply magic money up like that and build a house of cards and think that it is in any way secure as the billions and billions of pounds that are being pumped into the banking system around the world demonstrates.
It is good to hear that the prime minister is demanding changes in the way the financial system operates yet he was the man in charge of the nations finances for ten years and should certainly take some of the blame for turning his blind eye to what was going on. It is understandable that the flow of tax income recieved was very appealling as house prices soared and business boomed on a river of credit but it clearly could not continue for ever and the end, when it came, was going to be painful.
We were not behaving any differently to the rest of the world and perhaps a global crisis is the only way people would come to their senses and face up to the fact that our whole way of life is a flawed system.
The collapse of the banking industry is surely a sign that our society has become too far removed from reality. We were persuaded that the purpose of owning a house was as an investment rather than somewhere to live, we farm animals as if they were crops caring little for their welfare so long as they don’t get some disease they might pass on to us, we treat people as numbers and profit making machines.
Banks are some of the most unpopular institutions because of the way they have taken advantage of people and ripped us off at every opportunity. How the mighty have fallen. Now that we own a significant stake in these institutions the very least we should expect is fair treatment of customers and an end to the excesses of the top management.
You now own the banks. How would you like to be treated? Press One to continue to be treated as a an essential nuisance who is there only to profit the banks, or press two to be treated as a human being who is a customer and should be treated fairly.
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