Don’t just howl with rage. | Jonathan Freedland | The Guardian

The Guardian indicates the level of bonuses being paid by bailed-out banks and encourages the growth of credit unions.

Here’s a figure to chew on, though you may find yourself choking. It comes from the US, but there are similar numbers in the UK, too. Remember those banks that were so close to collapse, so desperate and needy they held out the begging bowl and pleaded with the taxpayers for help? Well, it turns out that nine of those banks – who between them trousered $175bn of the American public’s money in bailout funds – have fallen back into their old habits: last year they paid their top staff $32.6bn in bonuses.

via Don’t just howl with rage. Try an idea that does away with banks altogether | Jonathan Freedland | Comment is free | The Guardian .

Tags from the story
, ,
Written By
More from Steve Baker
UK must not let ‘zombie’ banks drain the economy – Telegraph
Liam Halligan writing in the Telegraph: Japan didn’t stagnate in the 1990s...
Read More
0 replies on “Don’t just howl with rage. | Jonathan Freedland | The Guardian”