In the face of doing a fraction of the business they were conducting a year or two ago, mass bank redundancies would be justified, but these would be politically unacceptable now that the banks have been nationalised in effect via the Government’s guarantee and bankers have effectively joined the safe ranks of the civil service. Seán Citizen is effectively subsidising bank jobs now.
Excessive bank costs are being passed on to Seán Citizen via increased charges to customers and lower or zero dividends to shareholders — so Seán Citizen is now paying on the double.
It’s a swizz for the banks but sheer stupidity for Seán Citizen and represents the biggest and most expensive con this Government has perpetrated on the country. It’s sheer unadulterated robbery … bank robbery.
Kevin T Finn