| Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Bashing the bankers? | |
| Posted by: | Adam Bailey | |
| Date/Time: | 14/12/09 14:00:00 |
| interesting debate I found Richard's suggestion "Personally, I'd have nationalised the banks that needed to be bailed out and run them properly" highly amusing. I would not trust government or the civil service to run a raffle efficiently let alone a bank - defence procurement? govt IT projects? Nimrod replacement? any engineering project run by govt ever? The best approach in my opinion is to let UK banks compete on an even footing not hamstrung by pay constraints, get their value up asap and sell them off to recoup our money. Plus increase some mild legislation to remove the worst excesses. eg make rating agencies indpendent of banks, prevent UK lenders issuing mortgages >90% and kill self-certification mortgages. 100% income tax - good god it would be like the dark ages of 70s labour. Very little extra tax revenue is raised by such measures and talent/entrepreneurs just move to countries with common sense policies, taking tax revenue and job creation with them. |