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

[Mich the Tester]

No.

They're still alive.

Back to the original question; "Why do people blame bankers and not Euro politicians for Europe's economic mess?"

Because we have to start somewhere. Euro politicians will get their turn.

[gingerjedi]

Haven't bankers suffered enough?™

Hard working bankers™

[TimberWolf]

Haven't bankers suffered enough?™

[AtW]

Pesky castle building costs going up the time

I think it's good to have high aspirations and wish to live in a castle so long as it's done on earned money.

If you aim low you ain't going to get high up.

[Peoplesoft bloke]

......per year without taking into account rampart inflation.

Pesky castle building costs going up the time

[AtW]

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.

Bank bail-out adds £1.5 trillion to debt

Source:
Bank bail-out adds £1.5 trillion to debt - Telegraph

---

It would take 30 years to get "evens" at rate of £50 bln per year without taking into account rampart inflation.

[DodgyAgent]

So you won't be going to Lady Thatcher's State Funeral then?

[Peoplesoft bloke]

I am also not a sheep - you wont find me at a football game or a rally hysterically cheering for a side.

So you won't be going to Lady Thatcher's State Funeral then?

I am more your Clint Eastwood

[DodgyAgent]

No, you are more like the sorry-assed bloke who's missus is being shagged by Ramone! *





(* Sorry DA, I couldn't resist that one. No offence meant!)

It saves me from having to do it

[Jeff Maginty]

..

[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.

[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.

[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

[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

[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?