Early day motion 2269

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BANKS AND QUANTITATIVE EASING

That this House notes with considerable anger the report in the Financial Times of 18 October 2011 that a commercial bank has sought to manipulate the market in the light of the latest round of quantitative easing (QE)undertaken by the Bank of England by buying gilts ahead of the QE auction in order topush their price higher and thus profit at the expense of the taxpayer and the economy overall; further notes that this blatant attempt by a bank to make afast profitout of the QE auction process may not be an isolated example in the current or past rounds ofQE; and calls on the Government to launch an immediate investigation and to report to Parliament as soon as practicable and also to make it clear that this obscene attempt to exploit the current economic crisis by the very bankers who brought about the crisis will not be tolerated and is further evidence of themoral bankruptcy of sections of our finance sector continuing to speculate at the country's expense when 2.5 million are unemployed and jobs and services are being cut.

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Total number of signatures: 15

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Showing 15 out of 15

Name Party Constituency Date Signed
Anderson, David Labour Party Blaydon 26.10.2011
Campbell, Ronnie Labour Party Blyth Valley 19.10.2011
Caton, Martin Labour Party Gower 19.10.2011
Connarty, Michael Labour Party Linlithgow and East Falkirk 31.10.2011
Corbyn, Jeremy Labour Party Islington North 19.10.2011
Dobbin, Jim Labour Party Heywood and Middleton 19.10.2011
Durkan, Mark Social Democratic and Labour Party Foyle 19.10.2011
Edwards, Jonathan Plaid Cymru Carmarthen East and Dinefwr 19.10.2011
Godsiff, Roger Labour Party Birmingham Hall Green 25.10.2011
Hopkins, Kelvin Labour Party Luton North 19.10.2011
Lucas, Caroline Green Party Brighton Pavilion 09.11.2011
McDonnell, John Labour Party Hayes and Harlington 18.10.2011
Meale, Alan Labour Party Mansfield 19.10.2011
Rotheram, Steve Labour Party Liverpool Walton 31.10.2011
Skinner, Dennis Labour Party Bolsover 19.10.2011