Published on December 9, 2009, 8:05 am
Opinion
What a year it's been for the poor British public, struggling to cope with the impact of recession, suffering pay freezes or pay cuts whilst learning how MPs have been immorally milking expenses out of our hard- earned taxes.

When caught with their hands in the cookie jar and ordered to pay back spurious expenses claims, the MPs whinged and whined while the public looked on in disgust.

Now the greedy bankers who helped bring the country to the brink of bankruptcy and had to be bailed out by the public purse to the tune of £850 billion, are whining and threatening to exit the City. Good riddance.

We are "warned" by Barclays boss Bob Diamond, who earns up to £40 million a year, that if the government imposes a tax on City bonuses over £25,000 as announced today, that there will be a mass exodus of the most talented players on the financial stage, which would be disastrous for Britain.

But then they would say that wouldn't they? Come on, who are they trying to kid? If they were so talented and indispensable, why didn't have the expertise to avoid making such horrendous losses in the first place?

Their greed and disloyalty to Britain should be seen for what it is. The only interests they have at heart are their own, not the interests of the public.

After the government bailed out them out, lending targets were set for the banking sector to help businesses out of the recession and try to kick start the housing market.

But despite the fact that the banks survived because of a public bailout, they refuse to help anyone else. Mortgage lending is at an all- time low, which has had a negative impact on the housing market.

Banks have failed to meet their business lending targets - despite the government's Enterprise Fund guaranteeing loans, their purses have remained firmly shut.

Meanwhile, as they continue to be part- owned by the state, they still expect to pay themselves millions of pounds in hefty bonuses.

Why should everyone else be expected to tighten their belts and endure the harsh times while bankers continue to ingratiate themselves as if it's business as usual?

This whole issue is not merely a question of public anger and disapproval; it's about responsibility and accountability, lessons that the City must learn.