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

by Steve Beasant on April 2, 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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