Quote:
Originally Posted by TheDaddy
ALL banks benefited financially from the bail out as all borrowed money from the Bank of England for next to nothing and lent it at considerably higher rate, Bob Diamond himself agreed and I suspect access to those funds doesn't just happen in bail out years.
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True but that's not the same as being recipients of taxpayers money to save their skins. As I said before, the money's been spent, the mistakes have been made and, like it or not, if the taxpayer is to get his/her money back a sensible balance has to be struck to ensure the banks can be profitable in the UK without exposing us to the sort on nonsense which was allowed to happen right under the noses of the previous administration and the FSA.
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As for the 'blackmail' idea - well that's big business for you and we're not the only country in that position. Major corporations are often beneficiaries of 'sweetners' from governments keen to secure their business and there have been massive movements of businesses to other countries whose commercial environments have been viewed more favourably than our own for one reason or another. We've done our fair share of offering businesses 'grants' to relocate here in the past and E. Europe has been a major beneficiary in more recent years. This will continue to be so unless we can make it more favourable for business to operate here. Like it or not, that's the real world.