Had the previous "government" indulged in proper regulation, and had they made an example of Northern Rock, and had not millions of greedy Labour voters fallen for the great Blair deception, this situation would not have been anywhere near as bad. When Brown said he'd abolished "boom and bust" he was basing it on the effects of the housing price bubble that the Blair govt had created and exploited. How could any sensible person not see that a trebling of house prices in the ten years after Labours election was anything other than a recipe for disaster Yes, bankers may be greedy, but just as greedy as those that borrowed recklessly at the expense of savers and pensioners, the unemployed and those in social housing so that they could get their own feet in the trough. What is it they sing at the Labour Party conference? Ah, yes, "The working class can kiss my ######, we'll keep the red flag flying here!"
John, it is wrong to assume that any criticism of the present government automatically implies absolute approval of everything done by the previous government. When it comes to accepting the myths woven about themselves by the financial services industry, both are culpable. Neither dared assert any real control over it, despite its capacity to sink the economy.
But, now that it actually has
sunk the economy, and sucked in billions of pounds of taxpayer's money to prevent its complete collapse, to continue to pander to these false gods is just stupid.
If a 100% bonus is not enough for some people, it is time to call their bluff and let them go.