The Capitalist system is in its worst crisis ever. This crisis is being made worse for most people as a result of the global “financial market’s” insistence on domestic policies of public sector cut backs, wholesale privatisation, and austerity for everyone bar the super-rich. This, so we are told, is the only way Governments can both ‘promote’ private sector ‘growth’, and pay back the huge cost of the bail-outs of many major US, UK and other banks in 2008, which it is estimated cost British citizens alone around £850 billion.
It is also the “only way”, again so we are told, to pay for the ‘recessionary’ economic impact of the 2008 banking crisis, which has seen Government’s in most effected countries running huge budget deficits since then. The result is many millions of ordinary people around the World facing a significant decline in their living standards, the prospects of a prolonged period of unemployment and major cut backs in many of the public services they have previously relied on.
What are the Bankers doing? Conspiring to rob us ALL of even more money!
The £290m fine imposed on Barclays is a testament to the banks doing precisely that, following an international investigation. It is widely expected, including by both the Guardian & BBC, that similar large fines will soon be levied on a whole number of other banks including Citibank, and the RBS Group, illustrating the widespread nature of the rate fixing conspiracy and latest banking scandal. That Barclays aren’t the only ones ‘fiddling’, while millions of ordinary folk are being financially and in ever other respect ‘burned’ by the lot of them, one way or another.
Is it not time we just nationalised the lot of them without compensation? Is it not time we sacked all the existing Directors and top management, and run them all in the interests of the majority, rather than a small greedy minority? Just a thought!