Dear Sir,
Rousseau wrote: ‘Man is born free, but everywhere he is in chains’. We are increasingly shackled by the chains of debt – a burden, since 2009, imposed on ordinary men and women of this country as a direct result of the recklessness and unethical behaviour of our major banks.
I am not saying the Labour Party did not make mistakes; such a view would be myopic. Reining back the powers of the FSA to regulate the banks was most unwise. However, the Labour Party had little option but to recapitalise the banks with OUR money; our seed corn for the future.
Failure to do this would have meant a complete collapse of the financial system. Yet still the banks and their fat cat management prosper; whilst you and me are driven towards poverty and sleepless nights; which seems to be the destiny, almost the birth right of the ordinary people under the hammer of this cynical, self-serving Tory Government.
For years Barclays and others have been manipulating the Libor rate in their own interests to the detriment of the rest of us; making us pay inflated interest rates and higher charges on a whole range of financial services.
Now there is yet another banking scandal emerging. Who knows how many of the shops and businesses in such as Newton Aycliffe – were given faulty advice – then were forced to close.
Will this Tory Government genuinely condemn this? Crucially, will they do something about it? Putting on a serious face and tut-tutting will not actual solve the systemic problems, fuelled by greed and self-interest that permeate the banking system. Or will they adopt the Jimmy Carr approach.
That is condemning a soft target and turning a blind eye to the activities of their chums, such as the bankers and supportive pop stars.
One final thought: the Labour Party do not always get it righ however, they are the only hope for a better future for the hard-working and decent, as well as the disadvantaged and most vulnerable in County Durham.
Derek George Atkinson,
Denham Place.