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From The Socialist newspaper, 22 February 2007

Banking billionaires

BARCLAY'S BANK is the first high street bank to announce its profits for 2006. They made a massive 7.14 billion - new record pre-tax profits, 35% up on the previous year.

At the same time many people have record levels of debt, through credit cards, personal loans, student loans, overdrafts etc. Over one in five people in both London and north east England told an Observer report that they may be forced to declare themselves bankrupt to escape their debts!

The banks have been charging massive amounts in overdraft charges, adding significantly to the record profits per customer that all the banks have been making. Other banks and building societies are announcing their 2006 profits shortly and confidently expect profits of over 40 billion.

More banks announcing record profits and dividends will increase the demand for windfall taxes on them and even more, for nationalisation of the banks.

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In The Socialist 22 February 2007:

Bush & Blair: Get out of Iraq

Iraq 'surge' doomed to failure

Italy: Thousands march against US military base


Socialist Party Marxist analysis

No to Trident!

North Korea: Talks achieve new accord

Anti-war, anti-nuclear, anti-capitalist? Read the socialist!


Socialist Students

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Another profit-making racket

Living in debt - with no advice

Defend further education


Socialist Party Congress

The politics of socialism


Socialist Party news and analysis

Justice for the Shrewsbury pickets

Children at the sharp end of British capitalism

Banking billionaires

Drug companies squeeze profits out of health

Hospitals crisis worsens

Fighting homophobia


Environment

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Socialist Party Marxist analysis

CWI world congress: How will new workers' parties be built?


Workplace news and analysis

Valentine's day protest

Unique Care workers plan more protests

Israeli postal workers storm trade union HQ


 

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