Sheridan & Galloway ask PM to Drop Bank Charges

Thanks to another great news hub, spiderednews, http://www.spiderednews.com/ I got to know about the above request by Messers Sheridan & Galloway.

Tommy Sheridan said:

Gordon Brown has the shares, and therefore the clout, to demand an end to this practice in HBOS, RBS and Northern Rock”source

While GG said:

“The government is pouring hundreds of billions of pounds into the banks, at the very least we, the public, must have a say in how these part-public-owned banks operate.”

Dear Tommy and George.

BrNWO isn’t going to use his share power for reasons of virtue. That suggestion is laughable. Buying shares iin banks as a way to stop the stock market from sliding was always a deeple sspect solution. That the government somehow ‘forgot’ that it could use that stakeholding to force banks to ease up on their vacuum sucking of money from the poor, is extremely unlikely.

———————————–

Update (29th Oct 08): Michael Hudson says the US government buy-out, involves no right to control bank policy. If this is the same for the UK banks I’m not sure but as it’s AGAINST the public interest, it probably would be the case. Hudson writes in Counterpunch 21st October 2008, (reprinted at http://www.informationclearinghouse.info/article21066.htm):

Paulson depicted the government’s purchase of special non-voting stock as a European-style nationalization. But government’s appointed public representatives to the boards of European banks being bailed out. This has not happened in America. Bank lobbyists are reported to have approached Treasury to express their worry that their shareholdings might be diluted. But the Treasury-Democratic Party plan invests $250 billion in government credit in non-voting shares. If a recipient of this credit goes broke, the government is left the end of the line behind other creditors. Its “shares” are not real loans, but “preferred stock.” As  Paulson explained on Monday: “Government owning a stake in any private U.S. company is objectionable to most Americans – me included.” So the government’s shares are not even real stock, but a special “non-voting” issue. The public stock investment will not even have voting power! So the government gets the worst of both worlds: Its “preferred stock” issue lacks the voting power that common stock has, while also lacking the standing for repayment in case of bankruptcy that bondholders enjoy. Instead of leading to more public oversight and regulation, the crisis thus has the opposite effect here: a capitulation to Wall Street, along lines that pave the ground for a much deeper debt crisis to come as the banks “earn their way out of debt” at the expense of the rest of the economy, which is receiving no debt relief!

End of update.

———————————–

Brown, and the NWO puppet who follows him, is going to use share power to:

1) Force ID upon us – biometric ID and
2) foist e-money upon is.

I really look forward to be proved wrong, as I cannot think of no other practical steps which pose as serious a threat for the killing what little freedom we have left.

Words constantly get added to the OED. Perhaps anonymity will be the first to be removed?

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