Why do people blame bankers and not Euro politicians for Europe's economic mess?

[DodgyAgent]

I thought you liked capitalism?

Mods, can you please change DodgyAgent's title to well deserved one: insular Little Englander

I love it AtW, but I loathe the way that bankers are being used as an excuse by others to avoid taking responsibility for their own failings. I am also not a sheep - you wont find me at a football game or a rally hysterically cheering for a side. I am more your Clint Eastwood

DA: "Baxters over there. Rojo's there. Me right in the middle."
Man : "Where you do what?"
DA : "Crazy bellringer was right. There's money to be made in a place like this."

[AtW]

I love it AtW, but I loathe the way that bankers are being used as an excuse by others to avoid taking responsibility for their own failings.

Then I'll settle for picking at recruitment agents, bankers might be selling their souls but they don't sell human flesh like you allegedly do!

[Jeff Maginty]

..

[northernladuk]

I thought you liked capitalism?

Mods, can you please change DodgyAgent's title to well deserved one: define English person

As for sasguru I think it's well overdue he was called for what he is: cretin

Thank you, the payment will be made to the usual Swiss account in euros.

FTFY

[Jeff Maginty]

..

[DodgyAgent]

Ah, that old chestnut of an argument! So...

If the banking industry contributes say £50billion in tax, and then requires a £100billion taxpayer bail-out, roughly how much would you say the banking industry's net contribution is in tax?

Despite your hypocrisy and envy you have a point. I wonder how much of the bail out went to contractors?

[sasguru]

Are you calling me a HYPOCRITE because you think I earn (or at least am paid) more than the jobs I listed?

Sorry now I just imagine you frothing and foaming at the mouth over all the words in caps

[AtW]

If the banking industry contributes say £50billion in tax, and then requires a £100billion taxpayer bail-out, roughly how much would you say the banking industry's net contribution is in tax?

Nevermind bailouts.

The real problem is that gambling with money using markets became easier and more profitable (at least in short term) than making proper investments into businesses and infrastucture here in the UK.

Do you see many UK companies do FTSE100 level IPO on LSE? Compare that to NASDAQ and US companies. The truth is that the City isn't acting in long term interests of this country, quiet the opposite - high short term profitability sucks out talent from other more strategically important sectors than this "hot air" selling one.

Ze Germans understand it very well which is why they did not allow this tulip on their playground, and they would not have given a tulip about ze City if it did not interfere them.

HTH

[Platypus]

Ah, that old chestnut of an argument! So...

If the banking industry contributes say £50billion in tax, and then requires a £100billion taxpayer bail-out, roughly how much would you say the banking industry's net contribution is in tax?

If the banking industry contributed £50bn in 2009 and another £50bn in 2010, I'd say we're evens. Anything they contributed before that or since is a net gain.

[sasguru]

Nevermind bailouts.

The real problem is that gambling with money using markets became easier and more profitable (at least in short term) than making proper investments into businesses and infrastucture here in the UK.

Do you see many UK companies do FTSE100 level IPO on LSE? Compare that to NASDAQ and US companies. The truth is that the City isn't acting in long term interests of this country, quiet the opposite - high short term profitability sucks out talent from other more strategically important sectors than this "hot air" selling one.

Ze Germans understand it very well which is why they did not allow this tulip on their playground, and they would not have given a tulip about ze City if it did not interfere them.

HTH

Unfortunately your Germans have cocked up quite a bit - they can't rely on exports to an impoverished Europe any more.
Industrial production already fell about 4% this month and its going to get worse.
And China isn't doing that well any more either since they can't export to Europe or US too so they won't make up the slack.

Exporting countries are going to suffer disporportionately IMHO.