This petition was submitted during the 2015-2017 parliament
Petition End Taxpayer Bail-outs of Banks by removing limitation of shareholder liability.
Between 2007 and 2010 the British Taxpayer bailed out the banks and bankers with cash and guarantees totalling £1,162 BILLION, equivalent to almost 3 times the total NHS budget for the same 4-year period! (Source: NAO; https://www.nao.org.uk/highlights/taxpayer-support-for-uk-banks-faqs/)
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The remedy is to ensure that shareholders are on the hook for all the banks' liabilities without a taxpayer safety net. They will then hold bank directors and management to account and monitor risk to prevent recurrences of such disasters. To achieve this, Parliament should remove shareholders' limited liability in banks (and any other business deemed too big to fail), so that shareholders, not taxpayers, are liable for all the banks' liabilities. There can be no reasonable objection to this.
This petition is closed This petition ran for 6 months
28 signatures
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