Diamond Banking

Diamond Banking

Diamond Banking

Barclays shareholders meet today to decide if Bob Diamond should get his obscene bonus.

He probably will because the majority of shares are owned by other large financial institutions and they won’t want to rock their cosy boat.

The idea that small shareholders can have a major effect is a lie and I’d guess that as average people become more impoverished and start to sell off the ‘family silver’, or in this case the shares they were told would be a financial featherbed, those same financial institutions will snap them up cheaply.

Of course they can afford the time to weather the financial storm and won’t only see a return on their investment at some point but will also be shoring up their mutual self-serving interests.

One reason given on BBC Breakfast this morning for not being able to reduce bankers bonuses was that they have signed a contract which can’t be broken. Really?… we’ve heard of plenty of normal working class people who have contracts with companies but are still forced to take a wage cut or have their conditions changed just to keep their job.

The same employment laws cover everyone – it seems they only get used to the disadvantage of those who need them most… I’d call that Financial Discrimination!

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