Osborne as usual is taking advantage of Labour’s distraction at this time to sell off RBS and Lloyds to the private sector at a huge losses to the taxpayer, to accountability of the banks, and to the future of the British economy. This is motivated by his ambition eclipse even the Thatcherite privatisation boom of […]
Posts Tagged ‘Banks’
Five good reasons why Osborne’s selling off RBS and Lloyds is wrong
Aug 9th, 2015 by Michael Meacher.
Big four banks (with 1,629 subsidiaries in tax havens) are rotten heart of UK economy
Mar 30th, 2015 by Michael Meacher.The more that comes to light about the nefarious activities of the Big four banks, the more extraordinary it is that these banks (a) demand a return to business as usual (which of course caused the financial crash in the first place), (b) continue to fight back against any reforms of a dysfunctional finance sector, feeble […]
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Facing eviction by Christmas, by publicly owned banks with no public service ethos
Nov 13th, 2014 by Michael Meacher.When because of the bankers’ crash RBS, Lloyds, Northern Rock and Bradford & Bingley went bust and were taken over by the State, one of the worst indictments of the Blair-Brown governments – copied and exacerbated further by this current Tory government – was that the losses were borne by the taxpayers, but they continued […]
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Break up the banks, or face another crash
Jan 16th, 2014 by Michael Meacher.Banking was the subject of a House of Commons debate yesterday. MICHAEL MEACHER spoke, and here we publish an edited version of his contribution: The government’s contribution to this debate seemed to me to be almost totally devoid of any new, serious content. The record of the banks over the past five years has been […]
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Europe’s debt – a con-trick binding the people to banks
Jan 10th, 2014 by Tom Gill.This article was translated by Tom Gill based on the original in Italian at Il Fatto Quotidiano by Loretta Napoleoni. From this year Italians have a 45 billion-euro–a-year bill to pay under the EU Fiscal Compact, a budgetary straightjacket binding Rome to 20 years of economically and socially lethal spending cuts and tax rises. It’s time to […]
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The Troika’s ‘Men in Black’ and the crime of organised money
May 28th, 2013 by Tom Gill.Continuing to force states to finance themselves at high-interest rates is just a strategy to justify wage control, the privatisation of public services and, ultimately, to enslave peoples, says Juan Torres Lopez, Professor of Economics at the University of Seville. Spain has once again received a visit from the so-called Men in Black, the Troika inspectors, coming […]
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Osborne again shows his preference for uncompetitive capitalism
May 1st, 2013 by Michael Meacher.So Osborne is still determined to return RBS and Lloyds to the private sector before the election. This is despite all the arguments to the contrary – that the private banking system produced the financial crash in the first place with utterly calamitous results, that no significant measures have been put in place to prevent […]
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There’s a hole in his bucket
Sep 4th, 2012 by Michael Meacher.It is really bewildering how far the Tories continue to push supply-side economics, and are now preparing to do so yet again even though every such initiative has failed miserably, but deliberately ignore the open goal of demand-side economics. Osborne softened the Vickers bank reform package as a quid pro quo for the banks increasing […]
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Why are we still so obsessed with preserving the banks?
Aug 20th, 2012 by Michael Meacher.It is sad, tragically if not pathetically sad, that 5 years into this long-drawn-out recession still virtually none of the key lessons have been learnt. It is not about injecting a new morale and spirit of Olympic aspiration into UK economic enterprise after two weeks of glorious athletics achievements. It’s about realising that the financial […]
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Labour still not rising to the challenge over HSBC, Barclays, G4S, FTT
Jul 24th, 2012 by Michael Meacher.As the disasters one after another, all interconnected via the underlying neoliberal ideology, betoken a real fin de siecle, Labour is still failing to shoot into a wide open goal. As HSBC is exposed sitting atop a mountain of corruption which bears comparison with the utterly discredited (and destroyed) BCCI, where is Labour calling for […]
