Monday, 14 September 2009

Banks debt, taxpayers burden.

NEW YORK - APRIL 28:  Protesters stand in fron...Image by Getty Images via Daylife

Once again we have the Tory and the labour parties competing to see who can con the most out of the taxpayers without it causing too much of an uproar, and to win votes, to try and clear the debt left behind by the bank bailout.
The problem I have with this is, none of them are allowing for any repayments, by the banks on the money that was classed as a LOAN!
All the calculations seem to circulate around the fact that the money given to the banks is not expected to be paid back, and is not included in any budgets in the foreseeable future, making the taxpayer liable for all the debts incurred by the banks.
The bankers are already planning on how to spend their outrageous bonuses, before any of the debt has been paid back, while we the taxpayers are awaiting the outcome of how hard our pockets are going to be hit, and for how long.
If the money owed is eventually paid back in anything up to thirty years, what happens to the money fleeced from the public, will we, or our offspring (as most of us will be dead by then) receive any bonuses from the money amassed, or will it just go into the coffers to bail the banks out in the next crisis, or be added to the bankers bonuses that will have escalated to an even more disgusting amount by then?
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1 comment:

  1. What is happening there buddy is happening here in The Netherlands too. Bloody suckers we have as politicians and bankers alike... And they keep telling us that we will have to do with less for many years before the debt is paid, or we will leave a huge debt to the next generations! So I guess - no bonuses for the offspring except for even worse taxes...