Monday, 9 February 2009
Who pays for the economic crisis?
The Prime Minister needs to realise that for the general public the Government's treatment of bankers' bonuses is the key test of who will pay for the economic crisis they have caused.
Allowing bonuses to be paid to the higher paid bankers who caused this crisis by their greed and recklessness will be seen as fundamentally unfair. Fumbling around with nothing more than ineffective warnings of inquiries is pointless. The Prime Minister needs to get a grip and take the decisive action needed to end the bonus culture and send a clear message that the binge banking party is over.
*John McDonnell MP has tabled EDM 353 'Banking Sector and City Bonuses' in the House of Commons. It calls for "the banking industry to be fully nationalised under public control so that finance is provided in the national interest."
5pm update: See Richard Murphy's take on Brown's hot air too.