Sacrifice one or more banks by taking them into state OWNERSHIP with ZERO recompense for the Directors and 'most' shareholder. Discretionary recompense as deemed appropriate, based on REAL NEED!
Damn it, I am a CAPITALIST (hard Right Wing Conservative) and I utterly LOATHE nationalisation but this is SO bad that it's tantamount to a WAR situation and Natioanal Needs come before PRIVATE needs!
And THEN instant SACKING and ELIMINATING THE PENSIONS of those involved in CAUSING this DISASTER:-
1) Tony Blair 2) Gordon Brown 3) Mervyn King 4) Ed B*LL*CKS 5) etc.,
Those guys are the ones who LEAD us into this DISASTER by removing the restrictions on banks cross-funding!
I'd then split the Banks into the Gambling Deprtment and the BANKING Department and allow ZERO cross financing of the two.
I'd THEN make the banks liable for ALL the loans made where they didn't take SUFFICIENT CARE to ensure that the people COULD reasonably afford to repay the loan! If they have lent STUPIDLY the debt should be WIPED OUT! Why the HELL should the banks be protected form INCOMPETENCE!
And, as you suspected, I could go On and ON and ON......... on this subject....
So I won't!
Ian
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