CITY TRADER -- MONEY TO WASTE

That is how Mr Cameron's and Tories' friends live while families are brought down so low they have to rely on food banks. Mr Cameron still puts on a show of concern about the "hard-working people".

A city trader spent this incredible sum of £40k in one night. He treated nine friends to a night out and partying beside a famous film star of Hollywood on the night of Halloween. An eye witness stated the he didn’t hold back the moment he saw this famous star and maybe he tried to show off at the Raffles in Chelsea’s Kings Road.

They city trader started with 10 Zombie cocktails which are made of rum, absinthe and grapefruit at £30 each.

Soon he was dancing the night away at the 230 capacity members only club. When the famous star turned up at 11pm the city trader ordered three giant bottles of vintage Dom Perignon champagne methuselahs amounting to  £24,000. After came seven bottles of vintage Dom Perignon Oenotheque 1996 adding another £3,500; two Belvedere jeroboam vodkas adding £1,640; seven glasses of Don Julio 1942 tequila adding £224; two vintage Dom Perignon Rose 2000 magnums adding £2,200; six bottles of Krug rose adding £2,400; Red Bull for £87.50; Havanna rum at £350 and finally 16 café parton with tequila adding £160.00.

The final bill came to £34,861.40 plus £5,229.23

This is a glimpse how the city boys live and the world they live in. To spent £40k in one night without padding the eye lid while the country struggles to survive and not only the ordinary people but also the economy and the government does nothing to curb their bonuses. At the very same time David Cameron and his friends always shouting about AUSTERITY and benefits have to be cut for England’s economy to survive.

To spent this kind of money in one night they must be used to it. This only can be done with all their high salaries and top bonuses. Therefore, the prime minister and the coalition should step in where it should be done. Also the Bank of England was talking about and promised to bring in regulation of the bank and city.

This regulation had been well overdue and when the people started a movement under the name of OCCUPY they soon were removed but the government will no confront the banks and city.  It is no wonder when banks go bankrupt but then the government makes the taxpayer to step in to rescue them. Yet when it shows a profit it is soon distributed in bonuses instead of being made to pay it back to the taxpayers.

There is another broken promise of David Cameron of stopping these huge bonuses. Times and again he promised but when it came to it, it was quietly sidelined. At stage he said it takes time to do this but when Occupy launched a protest in no time he had it through the courts and they were removed. All the government’s action is certainly one-sided and not democratic.

All this mess is since Margaret Thatcher de-regulated the banking and finance system. That lady has a lot to answer for, for the shamble ever since exists and until the government does not regulate the banks and finance market there will be nothing but scandals coming up.

The scandal of the Libor but after it hit the headline we never heard anything about it and apart from one man being sacked but with a more than fat golden handshake which should have never been given. He also will receive big pension while ordinary people’s pension is getting cut.

David Cameron is certainly in this altogether and he must be smirking away at the ordinary people he keeps well down. However in the long run it will backfire in the economy when next year all the cuts will bite and the people have even less to spend. Well it also could be that the public will remember and not being swayed by more promises in the future. Time will tell.

UK CHANCELLOR GEORGE OSBORNE -- UPDATED 23 May, 2014

UPDATE: After reading this report from 2012 it is interesting in respect that you can see nothing has changed ever since. 

Even after calls in 2012 for his resignation, which David Cameron did not accept, Chancellor George Osborne has not issued one good budget ever since. 

The country gone to ;pieces with his austerity but still will not change his policy. Even the IMF, Germany and France advised him to stop. Now, he and David Cameron dancing about that they achieved a 0,3 per cent improvement in the economy. 

While they are hopping about but ignore Germany three per cent and the USA seven per cent from countries which did not apply austerity. It proves it all while Mr Osborne still carries on with austerity and in spite of it all borrows billions of pounds more. 

Let’s go back to March, 2012 when Chancellor George Osborne announced his budget. A budget which surely had been prepared for weeks and read by quite a number of the top politicians. 

Eventually when it was read out there was quite an uproar in the House of Commons. Amongst the points which were implemented was the so called Granny tax. An addition which pensioners have to pay if they work on after their retiring age plus National Insurance. 

A number of other cuts of previously installed benefits by the Labour Party to help families with children. Additions such as 3p of fuel tax on petrol already sky high and so on.

Since budget was read there were so many u-turns it must be dizzy by now. This does not give a good picture of a financial expert or his colleges who work with him on it. It never happened before that so many points were cancelled after a budget.  In other words Mr Osborne made a mess.

If any ordinary person in a company would produce such an almost useless document he or she would be sacked. But Mr Osborne still carries on as the great Chancellor. Furthermore, the government had a double-dip recession in the first six months in spite the idea of austerity. Anybody with half the knowledge of politics and economics knows a cut-back slows down the economy. The Conservatives inherited not a great economy because of the credit crunch but not as dismal as they make it out. They could have built on it and improved the economy.

Now we come to the Barclays bank scandal where the libor (Interest rates charged on loans from one bank to another) was rigged by top executives.

At the Questioning Time in the House of Commons Mr Osborne tried to shift the blame onto Labour. This immediately backfired because Shadow Chancellor Ed Balls denied any involvement in rigging the Libor.

This statement was furthermore backed by the Bank of England’s deputy governor Paul Tuckers.  He claimed several time that Ed Ball or any of the Gordon Brown’s government were never involved. He emphasized that in 2008 he spoke several times with bank bosses because of the credit crunch.  However, he pointed out that neither the government (Labour) nor the Bank of England ever put pressure on Barclays or any other bank to rig the rates.

Surely Mr Osborne or his adviser should have thought such statement, if not true, has a very short life.  Looking at the almost useless budget and now the embarrassing statement being denied by all parties concerned it makes you wonder if Mr Osborne trying to commit political suicide? In view of this entire incompetent not one word is uttered of resigning or being asked by the Prime Minister to resign.

Mr Tucker stated further he was appalled by the revelations including Barclays fixing the Libor rate. He called it a cesspit and went further that it could be just the tip of the iceberg with corruption rampant across the City.

The Labour Party is now demanding a complete change in the City and Banks.