Time to make them pay!
The UK and international banking situation, in fact the whole ‘financial sector’ of the economy, continues to unravel at a rapid rate, claiming its first government victim this week in Iceland. No doubt more will follow, as the close ties between the financial sector, other corporations, and the politicians elected to serve us, but with their noses firmly in the trough, become ever more exposed as this or that enquiry or fraud trial slowly reveals the truth (my how the House of Lords is squirming right now). And what a truth it is: malpractice, misadministration, deliberate false accounting, insider dealing, gambling with someone else’s money, outright fraud and corruption. Then of course there is the greed, the greed for money and profit, available by cooking up evermore absurd financial pyramids and schemes so that in the end nobody actually knew what debts they were liable for and to who. They make Sustrans look saintly by comparison.
Of course, before the crash of the last 6 months, these banks and bankers were creaming it off for over 15 years, and making merry with buyouts, takeovers, bonuses, share options, property purchases, art collections and the like. So we can guess many are sitting pretty, and indeed many continue to do so – despite the crash handsome salaries and bonuses are still being paid, currency and share price speculation continues, they keep playing with our pension funds, golden handshakes remain the norm for retiring execs. Meanwhile, governments here and across the world are pouring our money into these same banks so as to ensure the whole creaking system doesn’t crash, they are increasing the public debt by billions as billions and trillions of pounds and dollars are injected to a failed system. But we don’t see them making any such funds available to hard up Bristolians now do we. Will the government pay off my mortgage now I’ve lost my job? Didn’t think so.
For us its going to be years of tightening belts, worries over paying bills and mortgages, feeding the kids, unemployment, repossessions, rent arrears, courts and bailiffs, dwindling savings, worthless pensions, and either inflation or deflation. Well sod that, lets make them pay for the crisis they have created. We demand:
1. That the 100 highest paid execs (by salary & bonuses) at every bank and financial institution be forced out of their jobs. That they be re-employed on socially useful Community Payback schemes on a minimum wage, with the words ‘I was a banker’ emblazoned on the back of their yellow jackets (prison is a waste of money for people like this, they’d only re-offend).
2. That they and their families be relieved of all their homes and properties, stocks and shares, trusts and funds, directorships, art collections and any other form of wealth. Any wealth they have ‘hidden’ in the last 10 years to be recovered. That they be rehoused in a the nearest social housing tower block. That their wealth & property be held in public trust until such time as it is converted into socially useful housing / cash and made available to community banks, credit unions, local job creation schemes and other community initiatives. To be agreed on by local assemblies.
3. That any senior banking/finance exec, and politician, who has retired/left their post in the last five years, with a renumeration package/pay of over £200,000.00, be treated according to demands 1 and 2 above. Any such person who be over retirement age be entitled to merely the state pension and applicable benefits.
4. That henceforth banks and financial institutions may only lend out sums equal to the deposits they hold, at a rate no higher than the Bank of England base rate. That they will not speculate with pensions funds, currencies nor share dealing.
We want justice, and we are going to get it.
The PFFTLOBFCBAFE
(The peoples front for the liberation of Bristolians from corrupt bankers and financial exploitation)