Cutting bank bonuses does not go far enough.

Labour's plans to cut bankers bonuses will fail, except on a very superficial level, and this is probably what they intend. The practice will most likely still go on through other perks and rewards, and Labour knows this. The wealth of the bank bosses is not really being threatened.

So what is really going on? We are supposed to see bonuses being cut as a sign that it is not only ordinary people like us who are having to 'tighten the belt', but the wealthy too. It is intended to give us the impression that everyone is being targeted equally by the government's cuts.

But these wealthy people are the ones whose greed and excess makes our economy a chronically unstable system - and this have not changed since the crash. They are still gambling on the markets, and paying themselves huge amounts of money. This proves that the unstable market economic system is not going to change through any action from our government, because they don't want it to change.

Why wont these changes happen? Wealthy capitalists are in the commons, wealthy aristocrats are in the house of lords, and MP's have cosy champaign dinners with greedy bankers. Our rulers are either the same people, or have exactly the same interests as these corrupt people whose bonuses are allegedly going to get cut.

There is lots of talk about bank bosses "not having learned the lessons of the crash". But they have learned an important lesson! Having been bailed out with £500bn, greedy bankers have in fact been shown that they can continue gambling with our standard of living, and that the terrible effects will be not be their burden, but instead will be 'outsourced' through the government onto us, in the form of NHS cuts, school closures, and job losses.

Here in Edinburgh we have massive unemployment, huge cuts for elderly care, four schools in the firing line, and council workers looking at pay cuts and job losses. We are clearly being made to foot the bill.

These cutbacks are a massive attack on our standard of living, and it is as a direct result of the greed of bank bosses, working hand-in-hand with the government.

These people should all be getting more than their bonuses cut for this! 

Comments

Re: Cutting bank bonuses does not go far enough.

By ann arky

www.radicalglasgow.me.uk   All this talk of hitting bankers' bonuses is just hogwash. It makes people think that somebody is being made to pay for the mess and pain that is coming our way. So the bankers are whinging about their £1.5 million bonus being cut to a mere £750,000 each and we are supposed to think that they are hurting?? They will be in clover for the rest of their lives while you and I face savage cuts to all socil services, plus high unemployment. Forget the bankers and their bonuses, it is the system that has to be destroyed and a fairer and more humane and just system created. One based on mutual aid, voluntary co-operation and sustainability, a system freeded from the corporate greed anf profit motive of this system.