We all know that the banks have failed us and something has to change.
In 2008 we were plunged into the worst recession in living memory, the direct result of a financial crisis caused by the reckless gambling of an irresponsible cartel of banks who thought they were too clever to fail.
The banks failed badly, but despite receiving the biggest taxpayer-funded bailout in history, nothing much has changed. Banks continue to pour money into socially useless lending and risky speculation, leaving us exposed to more crises, commodity bubbles and instability.
When big banks get round to lending to the real economy, it is mostly to huge companies with dubious environmental and human rights records. They have few qualms about making unethical investments in dictators, weapons manufacturers and environmental exploitation across the globe.
The government won't help
Yet government support for the banks - both through the bailout and the implicit 'too big to fail' guarantee - makes these dubious and unproductive activities artificially profitable. UK taxpayers have given up to £500bn to the banks in the form of bailout and guarantee schemes. While Giant bonuses reward bankers failure.
While the average citizen bears the brunt of harsh public sector cuts, the banks do as much as they can to avoid paying their fair share of tax, leaving us to pick up the tab for a government deficit created by saving them.
To add insult to injury, ordinary people, particularly elderly and financially vulnerable groups, are frequently the victims of deceitful mis-selling and overcharging by the big banks.
While our money sits with the banks, we're providing a cheap source of credit for them to continue.
From Move Your Money
It's up to us - move your money now!
"Real change won’t come from Westminster or the boardroom, but from ordinary people putting their foot down and saying enough is enough."
Laura Willoughby MBE, Move your Money
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