Failing banks should not be bailed out with public money

Have your say

From: Dr Glyn Powell BA (Hons), Bakersfield Drive, Kellington, Goole.

THE incompetent ConDem government blunders on from crisis to economic catastrophe, leaving in its wake the poor British people to pay the price through job losses and wage or benefit cuts.

For almost two years, this Government has blamed the previous, useless Labour government for our woes instead of the real culprits – bankers.

However, it now blames our problems on the European Union. This is another convenient scapegoat for the total failure of this government’s austerity measures. Meanwhile, the banks and bankers continue to rip-off the public and receive huge bonuses.

While I have always opposed EU membership, it is clear that together the EU and ConDems are reducing this country to third world status. We should therefore, quit the EU and urge Ireland, Greece, Italy, Portugal and Spain to default on their loans, leaving the banks to pick-up the losses.

After all it was the banks and their cavalier attitude that caused the problems. They should have been left to fail in the first instance. Failing banks should not be bailed out with public money, as this flies in the face of all capitalist laws of economics.

Similarly, instead of austerity, governments should spend our money, not on propping up dead banks, but on regenerating manufacturing industries, these industries are the real creators of wealth and jobs, within nations.

However, this Government will not pursue such policies, as it is in the pockets of people like Rupert Murdoch and the City bankers. A grim future therefore faces us all.

Our only hope is that the TUC awakes from its long slumber and calls a general strike in support of all oppressed workers, until this evil regime is removed.

From: Coun Colin Challen, Labour councillor for Castle Ward, Scarborough Council.

COUNCILLOR Andrew Carter (Yorkshire Post, June 5) blames Labour for the economic crisis – as if Gordon Brown single handedly created the eurozone mess (but Labour kept the UK out of the euro) and was no doubt the architect of the sub-prime mortgage scandal in the United States too.

There is no doubt that Labour should have regulated the City more than it did, but who were the people demanding ever lighter touch regulation? Not the Tories by any chance and their donors in the City?

Before Coun Carter chokes on his cocoa he might also recall that right up to the end of 2008 his party nationally supported Labour’s spending plans, no doubt supported by Tory councillors ever keen to grab Whitehall cash for their pet schemes.

The Conservatives, more then ever, need to conceal the stupidity of their own economic policy by maintaining everything still reflects on Labour’s period in office.

It is a confidence trick which is wearing very thin.

From: Edwin Schirn, Victoria Grove, Ilkley.

COUN Andrew Carter hopes the Government will pay more heed to transport needs in the North (Yorkshire Post, June 2). But Leeds missed its chance to go straight to the top with a directly-elected mayor who could have raised the whole question of the North-South divide directly with the Prime Minister.

Leeds councillors called for a No vote to Mayors. They got it; and the Prime Minister will not hear any mayor from West Yorkshire, who is backed by popular direct vote, and who is in Downing Street to put the case. That would be real power to the people.

From: Janet Berry, Hambleton, Selby.

I CANNOT tell you how disappointed I feel with George Osborne and David Cameron. I met him and heard him speak a couple of times when he was in opposition and had high hopes – all dashed.

George Osborne produced a poor uninspiring Budget with silly taxes on pasties, caravans and charity taxes, all which have had to be retracted. As for David Cameron, he spends half his time holding inquiries. It is quite disgusting that Baroness Warsi has been pocketing £90 expenses a night, staying in £75 rooms and claiming £165.50 daily allowance. What’s to inquire? She should be stripped of her title and sacked immediately.

If only David Cameron could make a decision and stick to it. He seems unable to do so and makes everyone feel unsettled and dismayed because of his constant weakness.