Handheld users: view this page better on http://m.socialistparty.org.uk

Come to National Shop Stewards Network conference 2012

spot Arguments for socialism

spot Capitalism

spot Globalisation Anticapitalism

spot Marxism

All keywords

Capitalism tags:

1929 (2)

Asset-stripping (5)

Bankers (57)

Banking crisis (10)

Bear Stearns (3)

Bonuses (36)

British economy (8)

British politics (2)

Budget (112)

Capitalism (447)

Capitalist (345)

Carry trade (1)

Coalition government (12)

Competition (9)

Credit crunch (17)

Depression (8)

Economic crisis (30)

Economy (224)

Euro (22)

Great Depression (6)

Hedge funds (7)

Import controls (1)

Inflation (13)

Interest rates (9)

Jpmorgan (1)

Keynesian (4)

Keynesianism (2)

Lisbon Treaty (3)

Mortgages (9)

Northern Rock (29)

Oil (188)

Private equity (8)

Profit system (15)

Recession (100)

Rich (106)

Shares (12)

Shell (6)

Short-selling (2)

Social class (1)

Stock market (4)

Stock market crash (2)

Sub-prime (11)

Sub-prime market (2)

Subprime (10)

Tax (185)

Wealth gap (11)

World economy (39)

capitalist crisis (13)

capitalist system (10)

Bonuses

Highlight keywords |Print this article |email to friend

From: The Socialist issue 634, 4 August 2010: Con-Dem cuts mean: we need ‘biggest movement since poll tax’

Search site for keywords: Rich - Rail - Corus - Banks - Bonuses

Rich just carry on getting richer

MAJOR SHAREHOLDERS in HSBC will look forward to big dividends as Britain's biggest bank saw its profits almost double to £7.2 billion over the six months up to June.

Meanwhile small businesses, hopeful home owners and workers say that the banks, despite huge government bailouts, will still not lend any money. Other banks display their wealth later in the week.

Corus the steelmakers sacked thousands of workers in Teesside and other areas of Europe, this year. Redundant workers' anger was magnified when Corus' chief executive Kirby Adams was revealed as probably the multinational owner Tata's highest paid executive, getting a £2 million package last year. His pay-off, expected next year, is likely to be at least as lavish.

Back in 2004 Network Rail and privatised firm Jarvis (which is now in administration), accepted responsibility for the 2002 rail crash at Potters Bar which killed six people. Recently the Potters Bar inquest found there had been a "catalogue of inadequacies" with shoddy maintenance and inspection. This typified the profit-seeking privatised rail system. Yet Network Rail had announced in June that six top directors would get annual and management incentive bonuses totalling over £2.25 billion.