Peter Mandelson: City dominance must end

[bored]

Okay. I will bite.

Atw - what would you like the city replaced with?

I can't wait to see the answer to this.......

A British Silicon Valley? SKA could fare well then

[TykeMerc]

It means film/music industry, advertising, etc.

Ahhhh bullcarp then, yup that's entirely in line with British thinking since the '80's. Definitely a winner there.

[bored]

Ahhhh bullcarp then, yup that's entirely in line with British thinking since the '80's. Definitely a winner there.

Indeed. The article was quite disheartening to read as the whole technology sector is completely under the radar - apparently the idea of basing the economy on engineering/medicine/biotech is too insane to be even considered.

[TykeMerc]

Indeed. The article was quite disheartening to read as the whole technology sector is completely under the radar - apparently the idea of basing the economy on engineering/medicine/biotech is too insane to be even considered.

Indeed, as I said in my earlier post the sciences and technology have been so marginalised in this country that they're now meaningless. You just have to look at the number of A level students taking even one let alone multiple sciences to realise how well prepared we are to take on the world in this area.
The scientists and engineers that this country does produce tend to leave the country to find interesting and rewarding work, it's been that way for a long time.

[AtW]

The scientists and engineers that this country does produce tend to leave the country to find interesting and rewarding work, it's been that way for a long time.

That's because of the City dominance - why do hard R&D in biotech when you can earn shredload more money while gambling with someone else's money? At least in the USA they got big banks that also (in addition to gambling) invest into Silicon Valley and other things, not so in the UK - the City with its example of high bonuses for nothing produced that will last (apart from debts) was the killer. Granted there were stupid decisions made in the past in this country that made it lose its edge in nuclear technology and other areas, but relying on the BStters from the City was totally insane - frankly the only reason the City kept it going until now was only due to lax regulation that allowed flow of dodgy money from Russian IPOs and other countries that could not list themselves in USA due to much strict regulation, but City welcomed them without asking questions about where the money came from and what will be the long term consequences of this scam, why would they give a monkey if they were getting their bonuses anyway and would bog off with golden parachutes?

This is not .COM boom that they also instigated - this time it's serious and the City is going to get it proper now. If you work there better save money for your plan B - you might need it.

[swamp]

It means film/music industry, advertising, etc.

So our nation can pin its future hopes and prosperity on Guy Ritchie

http://www.thedailymash.co.uk/news/c...-200810151325/

[BrilloPad]

That's because of the City dominance - why do hard R&D in biotech when you can earn shredload more money while gambling with someone else's money? At least in the USA they got big banks that also (in addition to gambling) invest into Silicon Valley and other things, not so in the UK - the City with its example of high bonuses for nothing produced that will last (apart from debts) was the killer. Granted there were stupid decisions made in the past in this country that made it lose its edge in nuclear technology and other areas, but relying on the BStters from the City was totally insane - frankly the only reason the City kept it going until now was only due to lax regulation that allowed flow of dodgy money from Russian IPOs and other countries that could not list themselves in USA due to much strict regulation, but City welcomed them without asking questions about where the money came from and what will be the long term consequences of this scam, why would they give a monkey if they were getting their bonuses anyway and would bog off with golden parachutes?

This is not .COM boom that they also instigated - this time it's serious and the City is going to get it proper now. If you work there better save money for your plan B - you might need it.

Do you have any evidence to back up any of your prejudices?

[Cyberman]

Basically, Labour have encouraged the demise of the financial services by killing our pensions, and more recently by allowing banks to lend without restriction, in order to propagate the myth that 'busts' can be made extinct. On top of that, they cause a bank run that decimates one of the largest lenders in the country, and decide to force people out of their homes to repay a BofE loan, by keeping interest rates artificially high.

Now, what other sectors can we give the benefit of our wisdom, think Brown's boffins. Roll out Peter Mandelson, obviously an economic genius with all of his business experience gleaned from all of those 'entrepreneurs' running the EU.

We are now saved !!!

[AtW]

they cause a bank run that decimates one of the largest lenders in the country

The very lender they allowed to lend without restriction? You know - 125% morgages and all that?

[TykeMerc]

Wasn't it under a Tory legislation that banking regulation was effectively abolished?