SIR – Perusal of the National Audit Office (NAO) website reveals that the amount of taxpayers’ money given to banks this year is (currently) £360 billion. Down from £460 billion last year, and a high of £1.2 trillion!
What is interesting about all this is that the NAO gives the reasons for this largesse to banks as being: l to protect the money of ordinary people; l to ensure that money is loaned to businesses to stimulate growth; l to ensure banks have sufficient capital.
It will be clear to everyone that the way to protect individuals’ money in banks is to separate the conventional banking from the casino banking.
It will be equally clear that the way to ensure businesses are well capitalised is by officially nationalising Lloyds and RBS – which we already own – and distributing business loans through these banks.
Thereafter, those banks who choose to hold us all to ransom can gamble themselves out of business without taxpayers’ money.
Now all we have to do is find even a single politician, of any stripe, prepared to take a stand against banks. Any nominations? Christopher Hindle, Osterley Grove, Bradford
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