What Is A Bail-In? Next Saturday, 19th of February, sees the start of something rather special: the second public takeover of Britain’s banks. The first takeover, or “bail-out” was astonishingly expensive and not much fun. The public was left billions lighter in the pocket, with little more to show for it than their names in the fine print. What did we get for our money? Greater regulation to ensure the crash didn't happen again? No. A reformed banking system that serves us rather than the city? No. How about penitent bankers showing restraint with their pay packets? Um, also no.
Luckily, the start of the second takeover is just days away. The Big Society Bail-In will be much cheaper, more effective and, crucially, much more fun. Adam Ramsay has already done an excellent job chronicling how the bail-out of deadbeat banks led to the deficit and the resulting rationale for swingeing cuts. Now, for the antidote – the Bail-In. From next Saturday onwards, intrepid UK Uncut volunteers up and down the land will be bailing into the banks and setting up libraries, forests, hospitals, schools, playgrounds, leisure centres and everything else that needs saving. After all, as Osborne’s valiant defense of city bonuses against common sense shows, the banks have nothing to fear from the austerity agenda. What better place to keep our services safe from the Treasury axe? http://ukuncut.org.uk/blog/what-is-a-bail-in _______________________________________________ NetBehaviour mailing list [email protected] http://www.netbehaviour.org/mailman/listinfo/netbehaviour
