08 February 2011

The velvet fist in the velvet glove

So Slasher Osborne is about to put the bite on the fatcat banks, by increasing the bank levy. You might think that this dastardly deed would be reflected in the share prices of the banks. Not a bit of it. Since the opening at 8 am this morning up to midday, here is how their shares have been affected:
Barclays -0.22%
HSBC +0.06%
Lloyds +0.23%
RBS -0.32%
Source: here

Well what did you expect? Slasher has only increased the levy by £800 million. The banking plutocrats won't even notice the loss against their profits of £ billions.

Btw, the public sector deficit is about £150 billion.

1 comment:

Richard T said...

Although my belief is that we won't see reason and sense in the banking trade until a good few are strung from lamp posts in Threadneedle Street, this probably is not feasible so simple question, - why isn't the levy fixed at the amount these folk pay themselves in bonuses, preferably taken out of the profits so the share-holders might be stimulated to do something.