By: Neil McEvoy
Doesn’t having first dibs at newly created money give bankers a teensy advantage?
View ArticleBy: john b
Aye to Neil. Whenever I’ve worked in the booze industry, free booze has been a constant factor. The money industry is not dissimilar. However, the City is more productive than Wall Street, because Wall...
View ArticleBy: PaulB
It seems to me that the City is beneficial to the UK economy, in its direct effects at least. But I doubt very much that banking globally adds anything like the amount of value it manages to extract....
View ArticleBy: JamesV
Some people can’t see a near-cartel with high barriers to entry either as business or employee when it jumps up and bites them in the face.
View ArticleBy: bloke in france
Agreed, James V. But I’d guess it’s barriers to entry (set by the government) for banks rather than people. Not many on the Northern Rock board (including chairman and chief executive) had any banking...
View ArticleBy: Diogenes
bif And Andy Hornby, formerly CEO of HBOS had very little banking experience as well: http://en.wikipedia.org/wiki/Andy_Hornby
View ArticleBy: Martin Davies
Rather have a large barrier to entry for banks in order for certain standards to be met. If I pay some money into an account I want to know there’s a good chance I’ll still have money there tomorrow....
View ArticleBy: Runcie Balspune
“That wage premium does not come from virtuous hard work or enterprise.” Coming from a overpaid failed tabloid journo is irony itself, I wonder how much he got paid for those 1,100 words of uniformed...
View ArticleBy: Serf
…..That wage premium does not come from virtuous hard work or enterprise……. Those that I know who work in the city spend more hours slogging at the desk than Willie ever has.
View ArticleBy: sadbutmadlad
Martin Dawes, there is no need to worry about the bank surviving. The government scheme covers up to £80k of saving which should cover 90% of people. For those with more, they are usually better off...
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