Labour Leader Ed Miliband Demands a Judicial Inquiry
Author: Eva Brooks
At long last somebody who has the power does something about the chaos in banks and the financial sector. Mr Miliband demands a judicial inquiry to hold bankers responsible for the credit crunch which they caused and still causing.
He also will put more force on David Cameron and demands a Commons vote to stop these shameful going on in the City regarding bonuses.
Mr Miliband seems to coming into his own and found a way to stop these ludicrous bonuses. Already he managed to Mr Hester of the Royal Bank of Scotland to hand back his £1billion bonus. Now, he will try now to stop Barclays chief Bob Diamond’s £10million payout.
Mr Miliband stated that all banks are benefiting from the taxpayers even if they didn’t have a bail-out. Too many having a bonus or golden handshake which are sky-high and do not deserve them. All firms have a responsibility and especially banks which are directly or indirectly involved with the taxpayers who support them. Mr Miliband points out further that he wants the MPs vote on another bonus tax which would pay for young people to get back to work but he also wants the MPs to vote on ending the bonus culture.
Although the vote will not be the law but all the Unions will request a judicial inquiry to find out who was responsible for the bank collapse. They hope that it will shed a light on the incompetence that destroys so many workplaces.
One Tory MP stated that stripping Fred Goodwin of his knighthood was a good thing but now it shows that the public only starting on those reckless bankers.
The movement Occupy tried to put pressure on and make the public aware but a law was soon put through to move them out of the city. David Cameron did not move at all, let alone quickly, to stop the huge bonuses and golden handshakes. After all the economy is under great pressure and people find it hard to cope with their money.
The Bank of England printed a £74billion to give the economy a boost yet nothing happened. Now it wants to print another £35billion. The Bank of England could surely put pressure on to stop these billions and millions of bonuses and golden handshakes. Not to mention £300,000 to £400,000 pensions yearly which will be given out from banks which had been rescued by the taxpayers. David Cameron admits that he would be able to stop these huge amounts of monies since bnks are government owned. He prosied it in his election manifesto and again at the beginning of last year but will do nothing.