How The Banks Won (2010)

As the government prepares an emergency budget to help pay for the bank bailout, Will Hutton investigates the banks and what they've done with our money. He discovers that while ordinary taxpayers take the pain, for the banks it's largely business as usual. Hutton analyses the banks' accounts and shows how they are using government-guaranteed funds to gamble with derivatives as they did before the crash. He also reveals how the banks are still paying vast salaries and bonuses, and City head hunters tell Dispatches how the banks hide the sums they're really paying out. With the help of former and current members of the Bank of England's monetary policy committee, Hutton shows how the banks' booming margins come from the free and near-free money the government and taxpayers gave them... read more
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How The Banks Won (2010)