Monday, 23 June 2014

Unrepentant bankers

Here's a quote from the Economist (on-line 21 June 2014)  from an article entitled "The shrinking of British banks is bad for their employees, the City and Britain"

Before the credit crunch, finance was Britain’s most successful industry, its biggest exporter, taxpayer and provider of well-paid jobs. 

The article is about senior bankers moaning about the reduction of the importance of banking in Britain. It is clear they haven't got the message! Their actions were responsible for almost destroying the British economy. They think they should be allowed to carry on as they did in the good old days. The public debt arising from their lack of integrity will take decades to pay off. The banking system invented a gigantic fraud for which many more people should have received long prison sentences, but now they think their overpaid life style should continue as by right.

Pensioners and savers continue to be penalised by low interest rates as a consequence of the bankers' dishonesty yet the bankers' remuneration continues to spiral upwards.

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