Quote:
Originally Posted by Chrysalis
I am very confident the financial sector has lost far more then tens of thousands of jobs elsewhere.
The publics investment isnt really an investment, its a handout. It looks clear there is no chance of that money been recouped especially with the sale of NR at a loss.
We need a system reset, which involves pain. Not some sort of pretend fix which involves attacking the sick.
The size of the financial sector compared to the damage its caused is small.
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I must say that your 'argument' seems more based on blind, irrational and misplaced revenge for what's happened than about the best way forward at this time. You're now saying that because jobs have been lost (due to a combination of a spendthrift government, an ineffective regulator and a relatively small number of very greedy people at the very top of part of the financial sector) it's quite OK to sacrifice yet more jobs and money. All this despite the fact that UK PLC needs both greatly right now given the massive amount of debt and spending we're wrestling with. You totally ignore the fact that the damage you speak of has been done but then seek to rub salt in the wound it's created in revenge.
You say we need a 'system reset' as if you're talking about your phone NOT one of the world's largest economies and seem to think this can be done at the flick of a switch and in complete isolation from the rest of the world and the global financial system. You talk about lost billions and jobs as if they don't matter - as if they're all going to be the fat cats you loathe when in fact the vast majority of those jobs will be ordinary hardworking decent people who're struggling to get by. We give away our financial sector and what it generates and just create viable, long term manufacturing jobs out of nowhere seems to be your sole argument.
Finally, you glibly say the Germans 'seem to manage OK without financial institutions'. Are you for real? Go and tell that to the financial institutions based in Frankfurt - yes Frankfurt - continental Europe's largest financial centre which the Germans are highly protective of and would love to expand. You really need to check your facts you know.
http://en.wikipedia.org/wiki/Frankfurt
Anyway it's pointless debating an issue with someone who refuses to let facts get in the way of his argument so I think we'll have to agree to disagree.