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He has a point. The bankers have been really irresponsible, not just the British bankers. Lending money to almost everyone they could find. And when it got out of control, they ask the people who should be their costumers to give them money in order to not lose even more money. It is a sort of stranglehold. We can't drop them, because we won't get our money back and when we support them, we also lose the money. We always lose. And the banks know it and abuse this, like Bankia did in Italy. They needed money, thus they actively sold bonds, to their own costumers, telling them it was just as safe as a normal savings account. Bankia failed and now their costumers have almost nothing left. Talk about inhuman.
But of course, we can't pin everything on the banks. People closed their eyes to the dangers. Greece, Italy, Spain, Ireland and yes, also the US lived above their standing and also contributed to this mess. (Most countries did this, but those are the worst in my eyes) Like the tag btw :P
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speeding_snail · 4533 days ago · link ·
You'll have to trust a bank to make the system work, but I think that this also was one of the problems. People trusted everybody who called himself a bank... Too much trust is also a problem.