Billy Bragg On G20 Summit

British songwriter Billy Bragg has spoken out against the banking system at a protest against the G20 summit.

The G20 summit is due to take place in London today (April 2nd). Gathering some of most powerful world leaders the meeting is set to discuss the crisis which has engulfed the world's financial system.

However some feel that the politicians will let bankers off lightly. Many blame a culture of recklessness for over spending in the American sub-prime markets, which has led to a massive crash on the stock market.

To rub salt into the wounds of those who now find themselves unemployed, many top bankers are refusing to return their annual bonuses despite their firms posting eye-watering losses.

Billy Bragg is no stranger to protest. A tour later this year will commemorate the events of the Miner's Strike, in which the songwriter was an active participant. The singer is well known for his left wing views, and spoke out on the steps of Threadneedle in London.

Speaking to the Daily Mirror, he said: "It's better than sitting down shouting at the television at these bankers. We cannot go back to the way things were before to the million-dollar bonus culture.

"Bankers' bonuses should be taxed at 90% like in America. We feel frustration and we hope to send a message today that we are very angry.

"We need them to know that people are not going to sit back and let this continue happening to us."

Other musicians who took part in the protest include Kate Nash and Get Cape. Wear Cape. Fly.