Thursday, 13 January 2011

Nationalise the Banks!

There comes a time when, we the Paying Class, have to insist that the Bonus Class are brought to heel. We do not appear to have a Political Class who are up to the fight. We should nationalise the banks and then we would be able to control the salaries of the very people who almost wrecked our economy.

Having bailed them out we are now faced with these greedy individuals rubbing our noses into the ground by insisting on bonuses which are an insult to the public. To be frank they are lucky to have jobs.

Perhaps if someone had the guts to take them in hand and give them a dose of reality then we could begin to recover the economy. We should frighten the life out of them and nationalise certain banks. It would bring the rest into line and stop this horrendous bonus culture.

2 comments:

Julian said...

The trouble with that is it would cost even more billions than we have already paid, as the shareholders would have to be compensated. Plus, most banks are multinational which would make nationalising them difficult.

An alternative would be one bank, say the Co-Operative Bank, standing up and saying it was doing away with bonuses and paying them to the customer instead of its employees. Then people could vote with their feet, or their money, and transfer their accounts.

But would they? I think the bankers have banked on the fact that the British public is basically apathetic.

Bob Gibson said...

Nationalisation would achieve nothing - indeed RBS and Lloyds are already part nationalised in effect.

The real losers are the small shareholders and the co-villains in the drama are the fund managers (those who control the major shareholdings) and of course the completely incompetent politicians across Europe who allowed this mess to occur in the first place.

see http://midlandsinvestor.blogspot.com/fund-managers-and-bankers-snouts-in-shared-trough/