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Are the Banks the Biggest Zombies in Town?

We have been writing for a number of years about the banks need to fez up their own deep seated problems and they go far beyond the Eurozone crisis that is exercising everybody at present.

The best piece I have read on the subject of the true state of the banks was an article written in yesterday’s Sunday Telegraph and here is a link. Any one wanting to gain an insight into the UK’s banking problems needs to read this and this problem is repeated in most centres around the European Union the latest being the Spanish debacle.

The market naivety in posting better equity prices today beggars belief as we are only treating a symptom and not the root cause which is that debts taken on have to be eventually paid by somebody . The somebody appears to be  the poor unsuspecting tax payer as losses are nationalised through some form of bailout.

Whilst the bankers plead their case we should keep bashing them until they come clean and until they have rebuilt the capital bases they have squandered.

Why should they receive bonuses and fancy salaries?


Author: Chris Slay

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