How we stole 40K from youf family ...and you never even realised it.

Every week there seem to be fresh new disturbing revelations about the original banking crisis. God knows what the new Dubai collapse will bring. the latest revelation is that the UK government in fact committed to a bail out of a massive 850 billion. That is £13800 for every adult in the UK - an average of £40K per family!

This was done without any consultation purely on Gordon Browns say so. Because the banking crisis was NOT in fact as bad as the bankers had led the government to believe the total cost of the bailout will be a mere 131 billion by the end of this year. So that will only be £6200 per family... phew well thats all right then!

The bad news is despite you spending your six grand each on the bankers this year they are still underperforming and being unwilling to lend. Both RBS and LLoyds are still unlikely to meet their business lending targets for this year, being too busy speculating on foreign currency deals to ensure staff bonuses are paid. Oh yes - the bankers pay is not going to be altered one bit by their failure. They are still going to be paid 'sucess bonuses' which in some cases are worth more than their salaries.

It has now been revealed that the treasury is also paying some leading bankers directly in addition to funds they receive from their employers! Why? Because they gave advice on how to save their own skins. You might think that this will not be much - but no its about half a nuclear submarine - £107 million to you and me. This includes millions of pounds in...aargh sucess bonuses ... and many contractors who raked in an astonishing 200K per month each for a few months at the start of the crisis. In other words the treasury did not know what to do (allow at least one of the banks to collapse and totally nationalise the others) and paid the bankers to save their own jobs (recommend the government guarantees them for up to 850 Billion and that will be all right then). A predictable outcome.

Why can the Treasury not do the job we pay them to do without having their hands held?