Submitted on Wednesday 10th February 2016
Published on Friday 12th February 2016
Current status: Closed
Closed: Friday 12th August 2016
Signatures: 157
Tagged with
No more bank bailouts - allow reckless banks to fail
In 2008, due to their reckless gambling with speculative financial products using money they did not actually have, the banks precipitated a worldwide economic crisis. The banks received over £100billion of public money in bailouts and loans to try and prevent them from collapsing completely.
Since 2008, banking practices and culture have not changed enough to prevent a re-occurrence. The burden of saving the banks has fallen mostly on taxpayers, rather than those responsible for the crash. We cannot, as a nation, allow this to happen again. If banks cause another crash, they should be allowed to fail, and not receive another bailout. The government has refused to bail out non-banking industries that provide many jobs (most recently, steel), so they should treat banks the same.
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18.117.12.43 Fri, 15 Nov 2024 02:38:27 +0000
