Occupy London Tour Shows Bankers Profiting Amid Poverty

[marmar]

(Bloomberg) Bank security guards in London lock the doors when they see Liam Taylor coming.

At a time of protests in March 2011, the secondary school teacher and a dozen others pushed through the revolving doors of Barclays Plc (BARC)’s headquarters in the Canary Wharf financial district of London. He led placard-waving chants to protest bonuses and tax avoidance.

The British bank was handing out 65.5 million pounds ($106 million) to eight executives, including Chief Executive Officer Robert Diamond, whom Taylor has never met. Meanwhile, the council of the poverty-mired surrounding London neighborhood of Tower Hamlets was slashing 72 million pounds from its taxpayer- funded budget.

Here, where two worlds collide, the 26-year-old umbrella- toting teacher plays an active role in the Occupy London protest movement. Tower Hamlets has one of the highest rates of young people receiving jobless benefits in London, the highest proportion of poor children and older people in England and the worst child poverty in the U.K. ................(more)

The complete piece is at: http://www.bloomberg.com/news/2012-05-08/occupy-london-tour-shows-bankers-profiting-amid-poverty.html