Sunday 8 February 2009

On the war path!

Dear Michael,
I have been a resident of Swindon for over 4 years now and this is the first time I have ever written to an MP. In fact I’ve been one of the silent majority, which as long as there is bread on the table and order on the streets then I’m fairly happy to continue with the status quo. This should give you some idea of the strength of feeling that I and many have others have over this issue.

I will make it abundantly clear to you, unless you stop the bonus culture of the UK banking system NOW you will no longer receive my vote. The bankers of the city of London have brought this country to its knees and it cannot and must not continue any longer. The short term risk horizon that the traders of the city employed is a direct result of the bonus culture that has been tolerated by the Tripartite authorities for too long. It is simply intolerable for the newly unemployed and victims of the banking credit crunch to accept that bonuses will be continued to be paid to those people working in the banks that have brought about their own demise. The argument that not all the employees of the banks contributed to the losses is without merit. They are lucky to still have a job that should be their ¨bonus¨!

I will be even more specific, the review on bonus remuneration that was initiated by Alistair Darling this weekend is a political device, a means of placating the masses by spin doctoring. The attitude is one of ¨let’s kick it into the long grass for 6 months¨ and take the heat out of the issue is NOT acceptable. This type of governance has worked for Labour in the past but no longer. Yes, a thorough review of the remuneration of bankers is required but this can be part of a wider ranging review of the financial regulation that the UK now requires.

The UK is facing a national economic emergency the likes of which it has not seen since World War 2, it expects and requires leadership now. You are the government and have the power to make a decision to now, use it! Right now, the masses are demanding that in a figurative sense, heads should roll. It’s your choice, sort out the bonus culture in the City or line up at the guillotine come the next election. This should be an easy choice for you and your government, it’s a populist choice and it’s the right choice.

Yours sincerely,


Simon Demler
Resident of North Swindon electorate