I quote his own words, he said this with regards Equitable Life and the losses to policy holders. Who have seen their pension plans crash and burn, something that will not be affecting any MP.
No Government can land taxpayers with bills of £4 billion for commercial failures.
Ok got that. A Labour MP stating that crashes by private companies should not be bailed out by taxpayers.
He added:
It will come, of course, from the pockets of taxpayers. It would be grossly unfair if the taxpayers were saddled with providing free insurance for the customers of all failed companies that may have been reckless and incompetent.
Unless the "reckless and incompetent" companies are banks in which case the taxpayer gets an anal raping to the tune of £500 billion. In which case the pockets of taxpayers will be picked to the tune of £20K for each and every one of us.
.
0 people have spoken:
Post a Comment