Socialist Outlook

Socialist Viewpoint, International, Socialist Outlook and their supplements, 1984–2002

QUEUE-T We Sng

Socialist Outlook no. 24, June 27 1992 · 168 words

Pensioners face ruin, while Maxwell brothers still control miltions ball us outi off too clearing banks, and how easy it is in Thatcher's deregulated Cty for a single-minded crook to clean out the pension funds of thousands of employees.

Tragedy has degenerated into arce, with top banks, arter nanding out milions in hopeless loans, now clinging desperately onto shares Maxwell stole from pension funds to use as secunty - arguing that they protect their shareholders. legislation covering pension funds, which under Thatcher emerged as the richest, fastest-growing sector of the savings industry, enjoying lavish tax perks, but without even the most flimsy safeguards for savers - as 32,000 Maxwell pensioners have discovered.

John Major's refusal either to bale out the pensioners, or to compel the City to clean up its own mess and bale them out. leaves thousands stranded, drawing little comfort from the tokenistic arrests.

The sick joke of convicted Guinness boss Emest Saunders strutting

← Detroit Wigan · Arrests to cover Maxwell shame →

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