frankbutcher wrote:The country has made fortunes from the Banks. Following your theory about the £100. The Banks lent loads of £100s. People used that to invest and got rich (house prices trebled). When they sold those houses, the government collected taxes. Likewise, the Banks paid taxes, as did their employees. The taxes raised directly and indirectly from the Banks is many times the amount of money the government pumped in to stabilise them. I'd also like to say that you're quite hypocritical when you are arguing to tax the bankers and tell them how to run things. I thought that the austerity regime was failing in your eyes. Shouldn't banks be allowed to invest and work there way out of the problems. Or are you applyinng the austerity principles to the Banking system? Double standards????? I fail to see how working as a Business Bank Manager got the economy into trouble. I thought that was from Investment Banks buying Collateralised Debt Obligations and Junk Bonds. You are as prejudiced and parrot-like than any Daily Mail stereotype that I have heard about. I can almost predict what you're going to say to each of my posts.
I would have nationalised RBS and created a parralell payment platform
one of the primary drivers behind the bailouts was fear of non-working cashpoints - a genuine societal breakdown
that could be bypassed relatively easily
getting rich from selling your house only works if you dont have to buy another house - no CG is payable on primary residences so price rises dont directly benefit the state. Just transactional stamp duty costs.
"The taxes raised directly and indirectly from the Banks is many times the amount of money the government pumped in to stabilise them" over what period? If this was the case in even decades then we wouldn't be in anywhere near as much trouble...
Banks shouldnt be 'allowed to invest' they should be controlled by civil servants - there will be loads of people to take those banking specialised civil service jobs - because apparently the bankers will quit in droves when they get no bonuses
also non 200% bonuses is not 'austerity' by anyones standards
nobody said working as a business moneylender collapsed the economy - lots have said the total failure of the banks to allocate meaningful resources to that sector subsequently has exacerbated it.
Amazing that having forced out my weird, not particularly relevant to this argument, views and you call them parrot-like...?
Who is it I'm coping my views from? Didn't know a combination of total drug decriminilisation, abandoning custodial sentencing, national service for graduates and getting rid of the army and all political parties was common currency...