I can’t put into words how angry this story makes me.
In laymans terms, banks made up some lies to make them more money, with no regard for anything apart from their individual profits. Clearly Barclays were not the only ones, but the first to get named in this specific incident, and remember that this is only one specific incident. Over the last four or five years there has been a constant stream of banks, credit agencies, financial institutions etc getting caught in similar scams that are what are the real causes of the global financial crisis, and nothing at all is happening.
A few bankers give up their bonuses for one year as a “gesture” to show how sad they are. Sad that they got caught, nothing else.
Millions of people have lost their jobs, houses, livelihoods, families, friends and even lives as a direct result of actions like this one by Barclays. This is what people really need to understand. Despite the best efforts of politicians and bankers worldwide to convince everyone that it is “our fault” and “we are all in it together” this is not the case. The global recession is not caused by plumbers doing a cash job at a weekend or single mothers claiming benefits. It was caused and is continuing because a very small group of people in the world, and it is far less than the 1% we hear about, want to make money at all costs.
Pure greed, that is all.
I can’t actually write coherently as I am so angry.
Can’t wait until “we” next bail out a bank while we close libraries.