Vince Cable: footballers deserve lavish pay, bankers don't

[d000hg]

You have little choice than to use the banking system and provide bankers with your money to play with, and to get paid with.

• They don't get paid with your money
• Use a building society or coop, maybe?

[Doggy Styles]

• They don't get paid with your money
• Use a building society or coop, maybe?

That's the point, ultimately they do. They use your money to generate their wages. If no-one deposited with that bank, there would be no money to pay them.

Now you could say use a coop etc, but these institutions also deposit your money somewhere.

[oyerg]

Football clubs are not 'Too Big To Fail'

There are some clear differences in my opinion:

1. If a football club runs out of money it will never be too big to fail and would never be rescued out of taxpayer money. Banks can run as a private business and pay whatever they like if they are not holding the public and the economy to ransom.
2. There is too little competition because they have been allowed to become too big. Football clubs are an example of perfect competition.
3. Football clubs do not 'play' with others' money. If the banks want to conduct trading operations with their equity/profits and not touching savers' money no one will have a problem. If they fail they will just fold over without affecting anyone.

So the fundamental problem is not with investment banks or retail banks. Make them separate as they were and investment banks can pay whatever they like, do whatever they like with their and their big clients' money and operate as private businesses like football clubs.

But banks do not like it and oppose it tooth and nail. Why?