Hypocrisy for dummies

For transparency and my own agenda, I strongly dislike our previous government, the Social Democrats with the support of the Green Party and the tacit acceptance of the Left Party, who ruled Sweden for 8 years. At the last election, I voted for the current government.

The national organization (LO) is a central organization that coordinates 14 different unions. According to its statutes, LO is a Social Democratic organization.

All winter, the Social Democrats and LO have raged against the big banks' profits and directors' salaries. The main reason for the sharp increase in profits for the banks is the increases in the policy rate that Sweden's central bank has made in recent years.

Today, one of Sweden's largest banks, Swedbank AB - Class A (SWDBF), held a general meeting. In this particular bank, the labor movement, i.e. the Social Democrats and LO, has a decisive influence. For example, SWDBF's largest shareholder is the workers' association's insurance company, Folksam, whose chairman was formerly chairman of LO.

The hypocrisy is monumental when SWDBF today at its general meeting chose to increase its dividend by 55%.