Why We Should Say No To Barclays

This is a bit of a delayed reaction post, in response to the news that Gordon Brown has offered Barclays (amongst other banks) a #7.5 billion refinancing package to get themselves out of their sticky financial situation.

This is the same Barclays that three years ago pushed my company Red Letter Days into administration on the grounds that we were an 'unacceptable risk' and they had to 'answer to their shareholders' - despite the fact they held #4.3 million in cash and other securities against a liability which eventually proved to be little more than #1million.

The same Barclays (which I have since learned through the numerous emails I have received from other entrepreneurs) which has the worst reputation of ANY UK BANK for ruthlessly pulling the plug on great British businesses which could otherwise have been saved.

The same Barclays that just two years ago posted a #7 BILLION PROFIT.

The same Barclays that just TWO WEEKS AGO danced Lehmans up the garden path - only to withdraw at the 11th hour and then go back in to cherry pick the assets, like a graverobber picking over the contents of the coffin while the corpse was still warm.

The fact that we are now offering #7.5 billion of TAXPAYERS' MONEY to bail this greedy, power hungry, ruthless bank out of financial difficulty is a total and utter disgrace and insult to the British people.

I say LET BARCLAYS CRASH - as they have allowed (forced?) so many other UK businesses to crash - then pick the entire business out of administration, sell off the assets and use the #7.5 billion (if it is needed) to supplement any funds which are needed to ensure depositors' monies are protected.

Give the b*stards a taste of their own medicine.