"London is now the worst place in the world to do business..." - The Daily Mail

drc

http://www.dailymail.co.uk/news/article-2096363/Row-bonuses-making-London-worst-place-business-warns-leading-bankers.html

StevieJ

I guess Paris or Frankfurt would be much better transaction tax will be OK as long as I receive my bonus

A._Badger

Nicola Horlick? <yawn>

phil_b_2

Well that's a sensationalist headline if ever I saw one.

shortchanged_2

That is such a moving story.

These poor city [STRIKE]w[/STRIKE]bankers

vivatifosi

Yes there's a lot of rhetoric in there, but take a step back for a minute and ask yourself what we would do without a healthy banking sector. What we need is a well-regulated banking sector that can't go t*ts up and take us all for our future livelihoods, we never had that in the past (well not since Big Bang at least). Yes there are some bankers to blame for that and I'd put Sir Fred at the top of the list. We should also have had a government that knew what it was doing instead of instigating light-touch regulation and a regulatory body that, well, let's not go there.

What we don't need is populist meddling in the works or remuneration of those that are trying to put it right, or into private companies that work within the sector and work within the regulatory frameworks that we set. We have to rebuild our banking sector. Sending out the message that Britain isn't open for business is not good, period, no matter what sector it affects.

ILW

If RBS is to be remodelled as a "boring" old fashioned bank, concentrating on lending to businesses and taking deposits from savers (rather than world domination), maybe it needs a different type of person to run it.

A._Badger

vivatifosi wrote: »

Yes there's a lot of rhetoric in there, but take a step back for a minute and ask yourself what we would do without a healthy banking sector. What we need is a well-regulated banking sector that can't go t*ts up and take us all for our future livelihoods, we never had that in the past (well not since Big Bang at least). Yes there are some bankers to blame for that and I'd put Sir Fred at the top of the list. We should also have had a government that new what it was doing instead of instigating light-touch regulation and a regulatory body that, well, let's not go there.

Prior to 1997 Blair and McDoom actively courted the City - and did it very thoroughly - in an attempt to convince the money men that 'this time it will be different'. In other words that a Labour government, for once, wouldn't wreck the economy.

What followed wasn't so much 'light touch' regulation as a sitting back and watching the flood gates opened so that the dynamic duo could enjoy a fake boom, the proceeds of which would A/ keep the Tories out and B/ pay for Nu Labour's social experiments.

Blaming the bankers now, while not instigating proceedings at Blair, Brown and Darling, is like hanging the Artful Dodger while letting Fagin go scot-free.

StevieJ

A._Badger wrote: »

Blaming the bankers now, while not instigating proceedings at Blair, Brown and Darling, is like hanging the Artful Dodger while letting Fagin go scot-free.

I think it a bit unfair to compare Bankers with pickpockets. BTW I think Darling did a great job as Chancellor, well deserving of one of those Banker style bonuses.

Hissing_sid

StevieJ wrote: »

I think it a bit unfair to compare Bankers with pickpockets. BTW I think Darling did a great job as Chancellor, well deserving of one of those Banker style bonuses.

Yeah well.... I'm sure the pickpockets won't take too much offense....

Radsteral

if bankers didnt feel good here, they would have left ages ago... moving business cant be any easier than its now on the internet age.As i Understand , you get the laptops and printers ,very little paperwork, servers and set up somewhere for a sweetcorn in carrabian island or settle for a chiken curry in tailand
must be a reason why they tend just to drag themselves on the ''island that doesnt love them ''