2/21/2024 0 Comments Homescape game guardianIt’s not that the former Ukip leader hasn’t been badly treated. To work up an indignant head of steam about Farage’s treatment by the private bank once known as the “Queen’s bank”, as so many have done this month, simply feels misdirected unless it is situated within a far wider sense of outrage. In the end, though, it is surely because, when the banks started going bust in 2008, the UK bailed them out and passed the bill on to UK taxpayers in the shape of an austerity programme that still blights lives and life-chances. Or perhaps the problem is that London remains a global hub of a tax avoidance industry that deprives this country of billions in tax revenues. It took years before the stable door was even partly shut, and it is still on the latch at best. Some of these plundered billions from countries and populations that will struggle to recover for generations, even if they ever get the chance. Perhaps ground zero here is that Britain’s banks spent decades laundering the finances of some of the most disreputable clients on the planet. Yet the bar for that could hardly be set lower than it is today. Bank leaders who met Treasury ministers on Wednesday expressed concern that the Farage affair had damaged public trust in the banks. For one thing, even an apparently open-and-shut issue such as this is hard to separate from the complicated morass of blind eye-turning and moral relativism that marks the banking sector generally. Indeed, it is really only the start of it. Alison Rose was right to resign in the early hours of Wednesday morning.īut this is hardly the end of the matter. Nor should the bank’s boss have briefed the BBC’s business editor in such a misleading way about anyone, especially a customer. It’s also a truly scary financial sanction to be invoked by a banking system so dominated by pitiless credit-rating algorithms.
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