May 22 (Bloomberg) -- The leader of the U.K. opposition Labour Party, Ed Miliband, compared Royal Bank of Scotland Plc to the Simpsons’ nuclear-plant owning Montgomery Burns, saying the bank practiced “irresponsible capitalism.”
Speaking today at a conference organized by Google Inc. north of London, Miliband showed a picture of the cartoon villain to illustrate a speech about business practices.
“He’s not such a good guy, he leaves radioactive nuggets lying around,” Miliband said of Burns. “Of course, he is a cartoon character, but I could have substituted him with RBS or some of the other big banks before the financial crash.”
“He illustrates my case today because there is a choice to make,” Miliband said. “A choice between an ‘irresponsible capitalism’ which sees huge gaps between the richest and the poorest, power concentrated in a few hands, and people are just in it for the fast buck whatever the consequences.”
The other choice is a “responsible capitalism,” Miliband said, “where companies pursue profit but we also have an equal society, power is in the hands of the many and where we recognize our responsibilities to each other.”
A spokesman for RBS in London declined to comment.
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