Investment banking giant Morgan Stanley are trying to tell British people who to vote for.
Morgan Stanley caused the 2007 financial crash through sheer greed. Through their creation of the 'subprime mortgage' market, which speculated on the debts of people who had very little chance of paying what they owe, they managed to draw more profits but ultimately lead to the largest financial crisis since the Great Depression when the bubble finally burst.
They received $107 billion from state funds to bail them out of the crisis which they caused. They only paid back $3.2 billion to the US coffers, less than 2% of what they borrowed.
You would think that this would shame them into keeping their heads down for at least a few decades, but only 10 years later, they are already trying to tell the people of the UK who to vote for.
Morgan Stanley advised their clients that Jeremy Corbyn poses a threat to the economy
Morgan Stanley warned about the nationalisation of key industries, higher taxes and a shift in spending priorities towards low-income households under Corbyn’s leadership, which it said could damage valuations of UK companies.
It told investors that another general election was likely towards the end of 2018 once Theresa May’s government realised it could not secure the Brexit deal it wants and the Tories began to fall apart, opening the door to Labour taking power.
Morgan Stanley said British utility companies, especially in the water and power sectors, were most at risk from a Labour government, but postal services, telecommunications and travel companies could also be affected.
Higher taxes and a corporation tax rise to 26% might damage British financial services, Morgan Stanley said.
Corbyn responded by saying that they were right and his Labour Party were a threat to the financial elite
“Nurses, teachers, shopworkers, builders, just about everyone is finding it harder to get by, while Morgan Stanley’s CEO paid himself £21.5m last year and UK banks paid out £15bn in bonuses,” Corbyn said.
“Labour is a growing movement of well over half a million members and a government-in-waiting that will work for the many. So when they say we’re a threat, they’re right. We’re a threat to a damaging and failed system that’s rigged for the few.”
Wherever you stand on the political spectrum, it's important to acknowledge strength and resilience in standing up and refusing to be bullied by huge corporations who believe that they can dictate policy in order to help their profits at the expense of everyone else.
Corbyn's hardline stance is starting to really resonate with the British public, with various polls suggesting that his party is establishing a lead over Theresa May's hapless leadership of the Conservative Party.
I never really looked into the British Labour Party, but if a leading financial player thinks they are dangerous they got to be at least somewhat decent people.
I would really like to see Corbyn as Prime Minister. He could do a lot of good for the UK.
That is an evil corporation even worst than evil corp.
Politicians always work in favor of large corporations.
People are considered only as a source of taxes.
They are more likely to suffer from the greed of politicians and corporations.