The Recession Begins to Hit with Repossessions and Unemployment Climbing Rapidly.
I put the following press release out today on hearing the news about the mounting repossessions being carried out by Northern Rock. We called for action at the early stage of the crisis to halt repossessions and to protect people in their homes by converting mortgages to social rents. I listened to assurances from both Gordon Brown and Yvette Cooper that action would be taken. Nothing appears to have happened and repossessions are rapidly rising. There is a real sense of tragic irony that taxpayers have bailed out the banks only to be evicted from their homes by the very banks that they now own!
Given the significant increase in unemployment I am calling on the Government to bring forward urgently a recession proofing programme to protect people's homes, jobs and pensions. Today's unemployment figures are bad but it should be remembered that each recent set of unemployment figures has had to be revised upwards because the staff cuts imposed by the Government on job centres means that there aren't enough staff left to keep up with the number of unemployed claiming.
Press Release
Is the Government's bank the most ruthless repossessor?
It was announced today that Northern Rock - the bank fully nationalised by the Government - has massively increased the number of homes it has repossessed in the last quarter.John McDonnell MP, LEAP Chair, said:"We fully nationalised Northern Rock, yet the Government's bank is becoming the most ruthless repossessor under the cosh of Government pressure to repay the loans. The Government is in danger of being seen as protecting banks while ignoring people."The Government needs to come up fast with a "recession-proof" strategy of halting repossessions and converting mortgages into homes for social rent."With unemployment rising, the Government should be injecting resources to save people's jobs and that means large scale public investment in major housing, rail and renewable energy infrastructure schemes."
Given the significant increase in unemployment I am calling on the Government to bring forward urgently a recession proofing programme to protect people's homes, jobs and pensions. Today's unemployment figures are bad but it should be remembered that each recent set of unemployment figures has had to be revised upwards because the staff cuts imposed by the Government on job centres means that there aren't enough staff left to keep up with the number of unemployed claiming.
Press Release
Is the Government's bank the most ruthless repossessor?
It was announced today that Northern Rock - the bank fully nationalised by the Government - has massively increased the number of homes it has repossessed in the last quarter.John McDonnell MP, LEAP Chair, said:"We fully nationalised Northern Rock, yet the Government's bank is becoming the most ruthless repossessor under the cosh of Government pressure to repay the loans. The Government is in danger of being seen as protecting banks while ignoring people."The Government needs to come up fast with a "recession-proof" strategy of halting repossessions and converting mortgages into homes for social rent."With unemployment rising, the Government should be injecting resources to save people's jobs and that means large scale public investment in major housing, rail and renewable energy infrastructure schemes."
posted by John at 11:18 PM
14 Comments:
You should call for the banking elites to face criminal charges this would get you good publicity they are crooked fradusters, who must face the law.
The government need to start crimnal investigations to find out where the money these banks stole has gone. Have the banking elties tkane the money themselves. Most of them have paid themselves millions of quid bonuses for making up Enron BS based businesses. The derivatives schemes are derranged.
I say the PM is right to nationalise tha banks. but he should start criminal investigations.
Why are the left wing not calling for criminal investigations into the bankers. This would motivate these people to do a better job.
People get locked up for not paying their TV licnece. These guy robbed billions of quid of the people.
If this happened in China they would be beheaded.
Check out http://www.casinocrash.org for critical analysis and debates on the financial crisis
ameron and the elites of the banking industry.
1. Sir Ewen Cameron, who was the London head of the Hong Kong and Shanghai Bank (now HSBC) played key roles in discussions led by the Rothschilds with the Japanese central banker (later Prime Minister) Takahashi Korekiyo concerning the selling of war bonds during the Russo-Japanese war. With him the Camerons planned WW2 to make money for the elites.
2. The tory leader himself worked for banks in Singapore. His connections to the banking eliters run deep. He himself was employed for three months in Hong Kong. Duting this time hewas indocrinated by the Hong Kong white bankers as a slave of their interests du to his addiction to chinese opium.
3. Cameron was working for Lamont at the time of Black Wednesday, when pressure from currency speculators forced the Pound sterling out of the European Exchange Rate Mechanism. So imagine what his connections where the tories threw away billions of quid for whom? During this time he and his buddies made a small fortune of 4 billion pounds with his buddies in the banking elites, with insider dealingh over the deal. Cameron sneered at the journalists who asked where has all the money gone he replied " Do not worry oiks, it has gone to pay for me opium habit and all me whores in the city".
4. When Cameron was 11, Mrs Gordon Getty flew her son Peter, grandson of the oil billionaire John Paul Getty and four of his classmates to the United States to celebrate his birthday. Cameron was one of the classmates chosen to accompany him. Cameron sneered his way into the friendship of Getty to steal his money. Getty now has no money. The tory stole it off him to build islands in the carribean with his security guards.
5. Returning from Hong Kong he visited Moscow and a Yalta beach in the Soviet Union. The tory leader's elitists buddies founded the soviet union, they also destoryed it to take even more power. Putin is really camerons old butler.
6. He was also a member of the student dining society the Bullingdon Club, which has a reputation for an outlandish drinking culture associated with boisterous behaviour and damaging property. Rather like the USA skull and bones club of elites.
My god what next Hitler was a Cameron.
Good to see LEAP's Andrew Fisher being interviewed about Northern Rock's repossession rate.
For the first time since I retired in 2005, I watched a lengthy Commons session on my PC which covered the Report Stage and Third Reading of the Employment Bill. Congratulations to John on both the issues he pursued and the arguments he used. It reminded me of the good olds days in the struggle over various aspects of the Enterprise Bill. Wait until we start winning on such matters.
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