Lloyds shares scam, flogging us something we already own

20_april_2015A letter a day to number 10. No 1,064

Monday 20 April 2015.

Dear Mr Cameron,

I see that you’ve come up with a canny election bribe, selling publicly owned shares in Lloyds bank to the public. I’m trying hard to understand this. This is different to privatising public assets like our NHS, public services, schools and so on, which is really just out and out theft of stuff we, the public, built and paid for. Selling shares to the public that the public already own has got to be something like, let me see now, how does fraud sound, or just one almighty great scam?

As far as I can see we shelled out £17.42 billion on Lloyds shares which amounts to £284 for every person in the country and now you want to sell them to us. As it happens I have no desire to take up your offer to sell me something I already own so just send me, and anybody else who wants it, a cheque for £284 plus interest.

On the Andrew Marr show yesterday you said, “The crucial point about this is it’s more of clearing up the mess that Labour left us” and that you want to get the money back. Throughout your time as Prime Minister you’ve consistently blamed labour for the banking crisis. Pardon me for pointing out the blindingly obvious, Labour saved the banks by bailing them out with our money and had nothing to do with the criminal behaviour that caused the crash any more than we, the public, did, so I wish you’d get your facts straight and stop lying.

Lloyds is now showing a profit again and has handed 11 senior employees £30 million in bonuses. I fail to see why we don’t hang on to our 43.4% stake in Lloyds and use the profits to pay off some of the damage they’ve done to us instead of you robbing the poor, the sick and disabled to pay off the national debt. Given that the banks are still in the hands of the same criminal fraternity that caused the banking crisis I cannot see the sense in giving them more assets to misuse, after all you’ve refused to regulate them thus allowing the criminals who committed the crimes to carry right on as if nothing had happened and to heap rewards on themselves for their criminality.

It is hard to imagine anything more corrupt than the banking system or a government which has aided and abetted them even down to using 20 grand of public money to protect their bonuses. This latest scam is pretty much par for the course. Attempting to flog us something we already own will likely win you some votes but hopefully only from the terminally stupid and gullible and the irritatingly and thoughtlessly greedy.






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