Banks and financial institutions that caused the crisis have been out of it strengthened, not have been put into question their privilege and with far greater economic and Financial thank the governments and central banks took on the principle that were too big to fail.
With this approach have been able to justify the multimillion-dollar aid of all kinds have been placed in his hands even though this has been left without punishing irresponsible behavior, it encourages the re-make and makes great banks even larger, which will make the next crisis causing more hard and difficult to govern this.
Neither governments nor central banks and economists liberal citizenship imposed on a constant discipline in order to achieve efficiency and, say, equity (now indicate that pensions must be reformed to make our system "fairer") have not had any problems to skip those goals when we have tried to help the banks.
contrast compared to the damage they have caused the banks to thousands of people to act with stealth, with gross irresponsibility and bad faith, the authorities generally are much more alien and carefree.
To increase in any way the volume of debt which is the business that provides benefit to the banks, they have conducted in recent years a series of outrages true and well known to have been mainly most vulnerable customers, lower income and knowledge and information on banking practices. Which, unlike banks, they seem to be too poor to save.
the past two years has begun to see that tens of thousands of individuals and small and medium enterprises have been quite simply misled by the banks that they hid the fine print contracts, which concealed the risks of insurance they sold under a different name or hidden formulas and incomprehensible, in short, established under unfair conditions on loans or credits offered them as if they were a godsend.
authorities looked the other way and then let them do and now that hundreds of thousands of people have lost their homes or face payment obligations that were never warned, still hiding and protecting the privileged cause of all these abuse.
organizations protect consumers estimate that about 300,000 English families have lost their homes in the last three years. And you can not argue that this is only the effect of a simple non-payment. Behind it is, as just noted, under unfair conditions, recommendations fraudulent, hidden information and appraisals of homes made by a party with an obvious lack of veracity and respect for market conditions that both banks and touting liberal silent above all this.
The number of families that they have cut the supply of basic services such as light or water is incalculable, but suffice to speak to civic organizations that deal with these problems to prove they are also tens of thousands.
is no exaggeration to say that only those affected by the bank fraud around the "swaps" apparently directed insurance to protect borrowers from rate rises may be in Spain around 100,000.
The English banking system, the higher the benefits of Europe and the running costs for customers higher, is an endless source of irregularities and injustices that can be done with the utmost treachery and impunity. It is truly incomprehensible that the political parties, trade unions and social organizations and movements in the foreground do not put all this type of conduct to prevent the illegal transfer of personal income and Banking companies they carry.
not think there's another country in the world where the people have more defenders in Spain, but despite this, neither has raised its voice in a forceful address a problem that would have required the joint action and radical because it has produced so treacherous, in broad daylight day and with dramatic consequences, I think we can say without exaggeration, for millions of people and families.
not even be trusted in Spain that do justice to its name and bring order to this, as in dozens of judgments has become clear that the attention of all banks have to many judges and magistrates not fall on deaf ears.
dominant banking practices, which have resulted in crisis and those that are still being carried out, constitute a social evil that must be eradicated. No other type of citizens be allowed to do what banks do (and with them the large utilities).
To put a stop to abuse widespread bank should strongly demand the government to take some urgent and essential: Investigate
- genuinely independent banking practices in Spain, specifying the nature and actual effects of each of them to refine the responsibilities of each entity.
- Extender that investigation to the behavior of the Bank of Spain that instead of having prevented the opacity, abuse, unconscionable clauses and deception has generally opted for silence or explicit collusion with the banks. You can not understand you have come to produce harm and deception is so widespread and so profitable for banks without the help of top banking authority.
- know exactly the people who have suffered bad banking practices and quantify the damage they have caused the banks to assume the consequences of damage.
- Review each and every one of the eviction proceedings that have occurred Foundation, with special attention to the conditions credit underwriting and appraisals.
- Promulgation of the rules and creating the necessary funds to secure the return of housing to low income people that have lost because of declining revenue and to prevent this from occurring in the future.
- act in the same direction with respect to families who lack access to basic services for non-payment as a result of unexpected income loss.
- Creating a special tribunal to prosecute abuses and promote banking in the European institutions the establishment of an ethical code of inexcusable compliance by all financial institutions.
The damage that has resulted in the English banking system in recent years and is now being translated into real drama for hundreds of thousands of families in a heavy stone for the whole economy is no small matter, even something only has to do with the elementary requirement that any person or institution that produces it must be repaid. The main issue is that the maintenance of such enormous power that has the Bank and the privileges they enjoy to earn money and how much you want are materially true and incompatible with a democratic and secure society.
TORRES JUAN LOPEZ - Scientific Council of ATTAC Spain.
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