THE GREED OF THE BANKING SECTOR HAS CAUSED UNEMPLOYMENT AND HOMELESSNESS CLAIMS NICK CLEGG

by Steve Beasant on 2 April, 2010

The Liberal Democrat Leader, Nick Clegg launched his most violent attack on the banks yet; claiming that the greed of the banking sector has caused unemployment and homelessness as it “held a gun to the head of the British economy”.

Speaking in a video interview conducted for politics.co.uk and Yahoo!, Nick Clegg launched a fervent attack on the conduct of the bankers before and after the economic crisis.  

“It’s an outrage – a complete economic and moral outrage – the way that the greed of he bankers of the City of London has held a gun to the head of the British economy,” he explained.  

“[It] has had a direct knock-on effect so young people find they can’t find work, homes are being repossessed, people are very scared about their economic prospects – and what’s happened to the bankers? They’re still raking in the bonuses.” 

The Liberal Democrats are calling for a ten per cent levy on bank profits, in a campaign which alienated many key figures in the City, who are wary of the power the party might hold in the event of a hung parliament.  

But asked if he was concerned that his statements might trigger a flight of capital from the UK, Nick Clegg was unapologetic.  

“[This recession] was started by banks and bankers, basically fuelled by greed and deeply irresponsible business models,” he said. 

“The whole thing has imploded.”

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