Stop retribution ... Start Recovery

[youngmafbog]

George has taken the progmatic view that rather than bash Bankers (which actually bashes us at the same time) we should embrace the Banks' efforts to get teh economy going.

He is probably right, many (not all) Banks got us into this debt but they are alos best placed to get us out as they contribute highly to the GDP. Unlike 5 a day co ordinators.

I am expecting some great arguments from the resident right-on brigade here !

[rojash]

" we should embrace the Banks' efforts to get teh economy going."
That might be easier if there were some evidence that the Banks were making an effort to do anything other than refill their troughs.

[jake-the-peg]

The bank's efforts to get the conomy going?

Call me old fashioned but I thought that was his job!

There is however a rather important thing he has failed to do and that is to split retail banks from the casino gambling dens trading in derivatives and futures and the like.

Until this happens the root of the problem is still there

I don't think it's retribution to ask those who have cost us all this money to pay some more of it back now they suddenly seem flush again!

They can go out and loose all their money again and once more turn to us and say "You can't let us go bust or the economy will fail"

George is ducking the issue because the Tory party is mostly funded by City bosses ans he hasn't got the nerve

[Gromit]

A day after it is revealed that over 50% of all donors to the Conservative party are from people in the finance sector in the City, we hear the Conservatives are being soft on the Bankers.

http://www.bbc.co.uk/news/uk-politics-12401049

Well, no surprises there then.

[R1Geezer]

yes It cost a few quid but I think we've done ok on our share holding I mean the RBS price is almost double the bail out price as is LLoyds so I'd say we're up on the deal. Still a good aunt sally for the lefties to have a go at eh?

[jake-the-peg]

Give us a break Geezer

The stock price is only OK now because we took all their dodgy assets!

[jake-the-peg]

To put it clearly Lloyds is worth about 11 billion

http://uk.finance.yahoo.com/q?s=LLOY.L

We have taken on 260 billion of their debt

http://www.thisismone...d=480209&in_page_id=2

How does this equate to being "up on the deal" ?

[R1Geezer]

well jake I was just taking the movement in the share price. It wasn't real money anyway.

[jake-the-peg]

Every one of us is having to bail out Lloyds to the tune of 4 grand

That's real money coming out of the cuts that are happening now

Price of Petrol sky high? - VAT 20%?

Not Gay 5-a-day-cordinators, Not "Gordon Browns spending spree".

Lloyds bank

[R1Geezer]

great, I've got a lot of shares in Lloyds, go out and buy some and share in this bonanza!

[jake-the-peg]

And the man responsible is about to retire with a £2 million golden Handshake

http://www.thisismone...d=521165&in_page_id=2

I hope YMB is appreciating these arguments from the "right on brigade" He's being awfuilly quiet

[youngmafbog]

Sorry Jake, stuck out her in Bruxelles - some of us have to work for our money and cant sit on AB all day !

Jake the problem is that many banks didnt take our money, in fact many are not even British owned. Why should they be penalised for another Banks faults?

And since you cant stop foreign banks from giving large bonuses how do you get talented people to stay in the State banks so we can get our money back?

I happen to agree with pulling retail apart from investment arm. Problem here is it is like taking a slice of pizza, stringy bits are attached randomly all over the place. It is not impossible but far from easy.

What it really neds is a global approach. If you donjt have a global approach then someone somewhere will be operating at an advantage and take all the business.

[LazyGun]

Regardless of whether a bank actually took a Govt.subsidy during the crisis, all banks - all banks - benefited hugely from being underwritten by the taxpayers from the UK and the US - Despite this, they think it is their perogative to pay themselves hideously excessive bonuses when pretty much every other sector of society is suffering the consequences of light touch regulation, reckless lending by the banks, overly relaxed attitude to personal credit by joe public, and above all else, a global financial meltdown.
And it is galling to see people like Osbourne and Cameron attempting to suggest that this latest round of talks is somehow tough on bankers and a good deal for british business - Cameron who when in opposition suggested that bonuses should be no more than around 2,000 squid! And I am pretty uneasy that the Conservative Party funds are dominated by huge personal donations from a handful of hedge fund managers and financiers - too cosy by half.
Next time the w- oops bankers say that they will leave the country if those nasty taxpayers dont stop shouting at them, we should pack their bags and stick em on the first available flight out - We would have no worries in replacing them within seconds!