Barclays Corporate Greed

The headlines this morning talk about how Barclays Bank has got Middle Eastern money to re-capitalise itself. Well, I am sure there is a smug glee on the faces of the 'elite' in Barclays that they have avoided government cash and stopped one of the most horrible things happening to the corporate bosses of the bank: namely no bonuses. For a dose of government (our money) to bail them out of the mistakes they have made, would probably lead to the government taking part ownership of the bank and an end to the corporate greed and the disgusting bonus schemes that to an outsider seem to reward failure.

So congratulations ye old Scrooges, for Christmas is approaching and you have secured your own trough of money while the rest of us struggle out in the cold. Barclays was once an institution founded by Quakers and run on moral principles; for now it is run for the greed of the top management who are selling a British bank into foreign ownership simply to make sure their bonuses flow into bottomless pockets.