Socialist Worker

Greedy bankers Diamond and Rich cash in

Issue No. 2242

Even the governor of the Bank of England, Mervyn King, has admitted that the bank bailout lies behind government spending cuts.

He said last week, “The price of this financial crisis is being borne by people who absolutely did not cause it.”

The Tories like to pretend that a “bloated public sector” have made cuts inevitable. But this lie is transparent.

The government bailed out the banks with £1.4 trillion of our money. But the bankers want more.

Just last week Barclays boss Bob Diamond pocketed a £6.5 million bonus. His colleague Rich Ricci, the co-CEO of Barclays Capital, got a mere £3.4 million bonus.

The banks want the government to bring in even more measures to maximise their profits.

The Tories will say that keeping banks in Britain will keep us in work. It’s a lie.

If the government really wanted to guarantee jobs it would nationalise the banks, take the bailout back from the bankers and invest it in our services.

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Sat 12 Mar 2011, 00:00 GMT
Issue No. 2242
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