Socialist Worker

Rotten system rigged by the rich

Issue No. 2311

Bankers have been caught out rigging the interest rates. But the scandal goes much wider than that.

With the help of their Tory pals, they’ve been rigging the whole system in their favour.

Life’s great if you’re a banker. You can make millions from the latest fiddle then pop open the champagne as you pocket a huge bonus. You won’t even need to pay any tax.

And when it all goes wrong, everyone who might have grassed you up will suffer a sudden case of memory loss. That’s why rioters go to jail for “looting”, while Bob Diamond can walk away from Barclays with a fat cheque.

The finance industry spent £92 million on lobbying politicians last year. For a bank that’s pocket change—but a little wining and dining goes a long way.

It’s a good investment for bankers to ensure lax regulation and tax cuts that will save them billions. While the poor get poorer these fat cats just get fatter. We need to get rid of their whole rigged system.

» Rate rigging went straight to the top

» Let's fight against this cracked coalition

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Tue 10 Jul 2012, 18:01 BST
Issue No. 2311
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