Quote:
Originally Posted by Traduk
Even though I went to a great deal of trouble to type out the differences between the manner in which the banks caused the problems and the effects of what is proposed via a Tobin tax would have, I appear to have wasted my time. 
The would be no threatening to leave involved at all. Tomorrow the banks start quoting pairs prices for currencies on the global Forex markets. If London carried a Tobin tax nobody would deal with them and pay the tax but instead would use American banks as market makers.
From the global leader, London would be finished from the opening bell of the first day of the unilateral introduction of such a tax. The 1.35 Trillion of capital flow through London markets would be instantly stopped and with Britain closed for that type of business the international banks wouldn't threaten to leave, they would just leave and relocate that business, most probably to America.
We are nothing but a tiny little island in a world of globalisation. Within that area of finance we punch well above our weight and are the global leader.
Failure to understand what we are privileged to be the central hub for and confuse the issue with high street banks charges is hard to describe in words without being insulting. Perhaps if you took time out to think about the different aspects of banking and separated the good from the bad you may understand why Cameron had no choice. |
The problem you posted was they up and left sweden right?
I wouldnt care less if they left the UK. Germany seems to manage ok without financial institutes,
---------- Post added at 07:46 ---------- Previous post was at 07:43 ----------
Quote:
Originally Posted by Osem
Once again you are letting your understandable dislike for Fred the Shred and his ilk cloud the issue and conflating fat cats, the City of London, the financial sector as a whole and the high street banks. At the same time you avoid the issue of what happens about all those thousands of distinctly non fat cat jobs nationally which depend (directly and indirectly) on the financial sector as a whole. Do you want those jobs lost and the billions the tax payer has put at risk in RBS, HBOS back or not? You can't have it both ways.
---------- Post added at 21:21 ---------- Previous post was at 21:20 ----------
Very well explained but I doubt it will make any difference sadly. |
It may sound odd to you but no I dont want people remployed in the financial sector, its a trojan horse. Instead I want this country back to manufacturing and IT. That sector the way it makes its money is just overkill capitalism which everyone else bears the cost for as unequal wealth spread. The terms I would let them stay has already been stated as unacceptable to those bankers, its already been made clear to me in this thread that the bankers would up and leave if they were made to share their wealth more, thats the morals of those institutes.