THE TELEGRAPH: Public anger over the "irresponsible" lending of Britain's banks intensified as MPs and unions criticised their conduct and even Gordon Brown felt compelled to express his anger as the latest bail-out package was announced.
Mr Brown admitted that taxpayers were justified at feeling angry that billions of pounds worth of their cash was being used to support the banks as a result of their behaviour.
As the rescue package was unveiled in the Commons, MPs from across the House condemned their excesses and called for greater constraints in future in return for the Government’s help.
Frank Dobson, a former Health Minister, said these "severe constraints" should encompass the pay and bonuses of bank bosses, adding that the measures unveiled by Alistair Darling would be acceptable to the public only if they were accompanied by "strict national and international regulation" to prevent further economic catastrophes. >>> By Rosa Prince, Political Correspondent | Monday, January 19, 2009
DAILY EXPRESS: Taxpayers Facing £1 Trillion Bill as Darling Bails Out the Banks…Again
ALISTAIR Darling unveiled another massive banking bail-out today, insisting it was “essential” to prop up the struggling economy.
The Chancellor and Prime Minister Gordon Brown staked hundreds of billions more of pounds of taxpayers’ money on a second bank bail-out in a bid to free up “blocked” credit markets and head off a worsening recession.
Among a series of measures, Mr Darling set out plans for a new insurance scheme to protect banks from so-called toxic assets, a move it is hoped will encourage institutions to restart lending to businesses and households.
It is the second bail-out for the banks in the space of just three months and could take the amount of taxpayers cash spent - or promised - to financial institutions to nearly £1trillion, or £1,000 billion. >>> By Geoff Marsh | Monday, January 19, 2009
The Dawning of a New Dark Age (Paperback & Hardback) – Free delivery >>>
