Banks Will Be Broke(n up)?

Plush for them

Plush for them

The report on the future of the banks is out and as expected it will be business as usual with some cosmetic changes that will give the banks an excuse to charge customers more … but they will have to find more loopholes to jump through.

Lloyds will have to sell off more branches and banks will have to ring-fence their dodgy deals… or at least that is the recommendation so far but it will obviously be watered down before it becomes law – well not law, probably using some voluntary code.

What we need is a complete shake up of the laws on lending starting with saying debts can’t be sold on. If they stood to lose on a bad debt they would be more careful.

There should be different types of banks ie personal lending banks and investment banks but they can’t be related in any way, directors can’t move from one sector to another and no bank should be allowed to grow ‘too big to fail’.

The banks we have bailed out need to be more answerable to us and paying back the taxpayer should take preference over, or at the very least equal standing to, the shareholders dividend.

Similarly, now Gordon Brown has admitted he got it wrong, all the money he makes from talks, books etc should be given back – there is no way he should benefit from getting us into this. And I know it’s a worldwide crisis but he took credit for the good times so he should pay for the bad.

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One Response to “Banks Will Be Broke(n up)?”

  1. Barbara Says:

    I agree with everything you say. Your the sort of person who should have been a Member of Parliament. Some of our MPs should be struck off now,never to return.

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