I have probably mentioned this before, but i will say it again: the current banking system in many countries in the UK is evil in a sense that is purer than most evils.

So how does the banking system work?

First, there is the theory - people put their money into banks, while that money is just sitting there, the banks use that money to invest into other enterprises in order to make a profit while making that money available to the savers when they want it.

The investment can be in business, in enterprises or as loans to individuals and firms in order to get them to do their jobs and make even more money.

That sounds benign enough.

But what really happens is not exactly that and over time the corruption of the system has balooned to take over.

Where we are at is money is given to the banks, which they then use to gamble in a casino.

Now, if in the casino, the banks make more money, that is called "financial innovation" and they keep the profits.

If however they make a (big enough) loss, as we have found out, it is the people who then have to cover their losses as happened in the recent banking collapse - business and individuals need loans and they cannot get loans without the banking system, so allowing the banks to collapse is not an option.

What that leaves is a system where people give money to the banks "for free" (taxes used for the bailout) ,and then the banks give that money back to the people at a price.

Now while that sounds a little weird, if that was how it was, it would still be better than nothing as the system would eventually start to work if the banks cleaned up their act...

...but they haven't, and the situation is banks use public money to gamble in a casino, knowing that if they win, they keep the profits, and if they lose, they will be given more money to keep going.

In such a system the people always lose (which I see I have not clearly explained how or why so I offer this link as further reading material.).