Banking Double Standards

Written by Gerald Payne on .

Sirs

It was good to see our local MP Claire Perry saying something on the despicability of corporate practices in this country.  In this case with regard to the overpayment of top managers and CEOs.  She stated that "...the proposed independent Parliamentary Inquiry will flush out the changes needed to working practices, compensation and treatment of law breakers."

Last year, following the London riots David Cameron and fellow Tories were quick to say that the full force of the law would be used against wrongdoers, including in that case, a boy who stole a small bottle of water.

So now here we have Barclays being caught conspiring to manipulate the LIBOR rate which will have affected the interest that we all pay on our debts, to their benefit and our cost, maybe even with the connivance of the Bank of England.

So what do we get from our local MP?  That a future inquiry will sort out bad practice.  It has been alleged that Barclays have already committed a crime - conspiracy to commit fraud.  Why are not its board members and CEO in jail facing that same force of law that Cameron was so quick to use against the poorest people of London?

Why is Perry, an ex banker, not calling for charges to be brought against those who break such laws?

Yours

Gerald Payne
Marlborough

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