Friday, 30 January 2015

Banking bailout cost every household in Britain £24k

A sobering statistic from the excellent film "the super rich and us" - that the cost of the banking bailout amounted to £24k for every household in Britain. That is aside of the fact that the poorest in society have effectively - through the austerity measures applied across Europe- been made to pay for this reckless behaviour. Meanwhile, for the bankers it is business (or should that be bonuses) as usual, not so much as a bit of contrition.
Another interesting element of the film was the recognition from some amongst the super rich that this cannot go on - with 85 people having as much wealth as 3,5 billion people on the planet. One billionaire recognised that one day the pitchforks would come out and he was keen not to be hoisted high come that day. The election of Syriza in Greece is a move in the right direction

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