Friday, 15 January 2010

Make the bankers pay!

Has President Obama been reading this blog? Unlikely. Has has never left a comment on any of the posts here. But if he had read it, he would know that I agree with him that making the banks pay for the economic crisis they have caused is essential. And like him I mean paying back every single penny.

Unlike Barack I believe that not only should the banks pay for the economic problems that they have created - but they should be prevented from ever causing such a problem again. The way to ensure this is to break up the banks and nationalise them - put them under the democratic control of the people. Banks cannot be allowed to continue to control and own the money which is the lifeblood of our economy. They must no longer be allowed to create money. In fact money must become a means of exchange - not a commodity.

Barack Obama has taken a step in the right direction. It is unacceptable for bankers to be earning huge amounts of money for doing nothing which is socially useful on the basis that they only have jobs because we saved their necks in the first place. Millions of people have lost their jobs, homes and livelihoods whilst the bankers wallow in an obscene cesspool of cash. At one time these people would have had their institutions burnt to the ground. One can only wonder why that hasn't happened now.

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