LETTER: Banks - Sack them all

Stock image - Money
Stock image - Money

Am I the only one astonished to hear that the Bank of England has £250 billion of our cash in reserve ready to give to commercial banks in an emergency?

Before Brexit, if we believed every word the chancellor said, we were in extremely good straits, but the banks still borrowed £9 billion from the Bank Of England. What on earth is going on?

Are our banks so poorly run that they need bailing out constantly, if so why are the people running them being allowed to do so - sack them all and get in people who can do the job properly.

And how dare the Bank of England simply give our money away . The governor stated that he had the £250 billion ready in case the banks needed it - what about the rest of us? What about our doctors and nurses, what about our armed forces , our police and fire service, our teachers and pensioners?

How dare the Bank of England build up a war chest of our money simply to use to bail out banks. We did that once before and look at the mess we are still in.

No bank should be too big to fail, if they are so badly run and cannot be made to pay, except millions to both directors and shareholders, let them go - it would be cheaper to compensate account holders than this constant bleed on our finances. The Bank of England and the chancellor should be ashamed of themselves, keeping everyone in utter poverty except bankers, those who hold shares and almost everyone south of Watford, holding on to £250 billion of our cash. I ask again, what is going on?

Dennis Snape

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