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Prescience

The City Is Useless!

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"I think some of it is socially useless activity," he said, referring to the complex financial instruments that have largely been blamed for triggering the biggest global financial crisis in decades.

Areas that had grown too big included fixed income securities, derivatives, trading and hedging, and possibly also asset management and share trading. Lord Turner said he would be in favour of imposing City-specific taxes, if necessary.

Lord Turner suddenly realises what those of us with a brain have been saying for 25 years!

:rolleyes:

http://www.telegraph.co.uk/finance/newsbys...ord-Turner.html

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The goverment needs to push up taxes so it can keep going to the IMF for loans.

from speeding fines to council tax we are going to see massive rises in taxes and the only way to stop this visious cycle it to throw our mafia leaders in jail and to start again.

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