Opinion and observation on a world gone crazy

Joe Gill, journalist and game inventor from Brighton, UK

Wednesday, 10 August 2011

The looting stage of capitalism

Three years ago the banks pulled off the biggest act of looting in history. Having built a pyramid scheme and creamed of billions in fees, the banks faced collapsed. Then they pulled on the banker's version of the smash and grab - they got the governments of the West to bail them out, with $2 trillion bill to the public purse. Within a year the bonus culture returned, this time with a public guarantee.
A year later the politicians got caught pilfering £1 million - a pittance really. Meanwhile since the recession began, Britain's chief executives have been paying themselves double digit pay increases every year - trousering millions, while the economy tanks and their workers are laid off or face a pay freeze. Looting by another name.
Now, a new wave of looting takes place, in the inner cities. As some foreign journalists have pointed out, it is hardly surprising that this wave of violence and theft started in London, a city of huge extremes of wealth and poverty. Something we are supposed to just get used to. The Prime Minister says the looters are part of a 'sick society'. So tell us Mr Cameron, where did that sick society come from?

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