Monday, 6 January 2014

Taxpayer subsidy to Big Banks

"We are all in it together" or so the government say. Whilst Northern Local Authorities have their budgets slashed, in the interests of the economy, the Tory Cabinet, with their Fib-Dem mates, are handing out billions to the big four banks.

Barclays, RBS, HSBC and Lloyds were given £23b to help business borrowing, they spent £3.6b, pocketing £19.4b.

I suppose someone has to subsidise the bonuses of the, to quote Vincent - pretending I told you so - Cable, of "the Spivs and Speculators". I am sure most people could think of better descriptions for our esteemed Bankers.