Wednesday, 2 April 2014

Banks owe compensation for mis-buying!

The banks continue to take us for idiots. Another instance of "taxpayers being fleeced by a sophisticated City operation", this time promising, in return for extra shares in Royal Mail, to "stay in for the long term", and then selling them to hedge-funds.
     So, not content with mis-selling insurance, fixing Libor interest rates, manipulating the foreign exchange markets, even laundering Mexican drug money, whilst all the time claiming "ethics come before profits", banks can now add "mis-buying" to the list of skills that these "best people", seemingly valued more highly than any other workers in the country, have at their disposal! A government with any decency would demand the repayment of those banks` profits, and treble them! If compensation is required for mis-selling, the same should be true for mis-buying!


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