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Cameron: Let's Not Be Cross With The Bankers

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http://uk.finance.yahoo.com/news/David-Cameron-no-revenge-tele-73546191.html;_ylt=AsNmEVJJKHx23LiaB9h8pd_Sr7FG;_ylu=X3oDMTE5bGYwa2d2BHBvcwMxMQRzZWMDeWZpVG9wU3RvcmllcwRzbGsDZGF2aWRjYW1lcm9u?x=0

David Cameron: no 'revenge' on bankers
James "Jim" Kirkup, 22:48, Friday 14 January 2011
Voters must stop seeking to “take revenge” on banks and accept they are vital to the economic recovery, David Cameron has said.
Signalling he is prepared to defy public opinion, the Prime Minister signalled he will reject demands for punitive action on bankers bonuses and admitted his approach could be unpopular.
Taxpayers are “rightly angry” about bankers getting huge bonuses, Mr Cameron said.
But he insisted he will not court short-term popularity by trying to “hammer” the financial sector.

Charles I's biggest mistake was his inability to identify with the people he tried to govern. Unlike QE 1, he was aloof and miscalculated the depth of anger and frustration of the populace who were tired of exploitation by the elites who ran the show.

I doubt Dave will last the year as PM. Side with the banksters and you enrage the people beyond normal British tolerance.

The question is--who is next as Millipede is, well, Millipede. I have lost confidence in poor old Vincente de Cable but he may be better out from under Dave's control.

_____________________________________

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8259914/JP-Morgan-profits-jump-as-huge-pay-and-bonus-pool-revealed.html

Amid the glowing results, JP Morgan also revealed a $28.1bn bill for total staff pay and bonuses in 2010, with $6.6bn set aside for total staff compensation in the fourth quarter alone, up 29pc on last year.
This figure includes a 2010 full-year pay and bonus packet of $9.7bn for JP Morgan's investment bankers, a 4pc increase on last year.
JP Morgan's London staff – of which there are approximately 8,000 – wil share £1.87bn for the year, or an average of £234,180.
It is feared big bonus payouts from US banks will prompt UK counterparts to follow suit, with concerns also that Government attempts to rein in British banker handouts are failing.
Edited by Realistbear

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The more I see and hear of Cameron the less I like him.

He's like Obama, all talk of change but when the time comes he buckles and follows in the footsteps of the last guy.

It's a shame Millipede has nothing constructive to stir the pot with, it would be good if only for the entertainment value.

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Not impressed.

What happened to the cuts?

What happened to splitting up banks that were apparently too big to fail?

My plan; vote Labour, await total state collapse. Then finally wave goodbye to this sticking cesspit of corruption once and for all.

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Cameron is lining himself up for a further career - multi-million £ job 'advising the bankers'

It's nothing to do with hammering bankers - it's all to do with bringing the wholly corrupt City back under control and new regulation so that the general population are not exposed to their greed and 100% guaranteed. near future collapse of their empty, bankrupt banks (coz they can't 'help themselves' - double-entendre alert).

The b'stard shills in charge/Govt have done nothing, zero, nada, zilch, to CHANGE anything in the City!

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Said it before and I'll say it again. Almost without exception, Politicians are liars.

Their sole purpose in life is to make as much money as possible, and achieve as much power as possible, whilst appearing to be fighting for the little man.

I doubt there are more than a dozen people sat in Westminster who genuinely get out of bed each day and ask themselves what they can do to better the lives of the electorate, and improve the country they live in.

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Said it before and I'll say it again. Almost without exception, Politicians are liars.

Their sole purpose in life is to make as much money as possible, and achieve as much power as possible, whilst appearing to be fighting for the little man.

I doubt there are more than a dozen people sat in Westminster who genuinely get out of bed each day and ask themselves what they can do to better the lives of the electorate, and improve the country they live in.

I agree completely.

I think that John Major was the last PM with this attitude.

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A political suicide.
What on earth would have forced him to say that now? Could it be this, perhaps?
:
“The financial services industry is hugely important to the British economy; if you want to be world competitive, then you have to pay the sort of money that the world industry will pay,” the former deputy prime minister tells the Daily Telegraph today.
“It would, in my view, be the utmost folly to create a climate in this country which was anything other than sympathetic to the financial services industry.”
HSBC is deciding to move out. Other banks are considering exiting too. One of the main factors in theses companies "
decision matrix
"
:rolleyes:
(sorry, they do talk like that
:lol:
), is the political environment regarding their industry. And researches are showing that Britain has now the most negative in the world.
(As here most people think the bankers caused the crisis, instead of a collective Ponzi scheme unchecked by the USA and UK monetary authorities, or opposition parties. "They were all in it together". But bankers were singled out as scapegoats.)
IIRC the financial services industry pay a quarter of gov. revenues. And is a (the?) major exporter too. We are already in the brink, If Britain were to lose this industry, we would be in such a crisis, and for so long, that we would probably end up poorer than Spain. But it just occurred to me now that if just HSBC leaves Britain, the market reaction could be enough to trigger a cascade of "no-confidence".

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Said it before and I'll say it again. Almost without exception, Politicians are liars.

Their sole purpose in life is to make as much money as possible, and achieve as much power as possible, whilst appearing to be fighting for the little man.

I doubt there are more than a dozen people sat in Westminster who genuinely get out of bed each day and ask themselves what they can do to better the lives of the electorate, and improve the country they live in.

I've known many politicians (via Academic work, some years ago, and socially), and whilst many are self-centred, it is not exactly money many are after (particularly those that have a lot of it already).

Remember the film Casablanca? The tune song, "As Time Goes By"? (One of my father's favourite.)

" It's still the same old story

A fight for love and glory

(...) "

Many want to be respected, admired, adored even (in their wildest fantasies, of course, but there you go). Many do want to do a good job, even if it is only for the selfish reason of being admired for it, to have an ego-trip reward.

But that is fine by me. And I do think that Cameron and Clegg do want to turn this economy around.

Besides, being part of the British economic elite, their "class interest" is aligned with the economic success of the British economy as a whole.

Edited by Tired of Waiting

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A political suicide.

What on earth would have forced him to say that now? Could it be this, perhaps? :

HSBC is deciding to move out. Other banks are considering exiting too. One of the main factors in theses companies "decision matrix" :rolleyes: (sorry, they do talk like that :lol: ), is the political environment regarding their industry. And researches are showing that Britain has now the most negative in the world.

(As here most people think the bankers caused the crisis, instead of a collective Ponzi scheme unchecked by the USA and UK monetary authorities, or opposition parties. "They were all in it together". But bankers were singled out as scapegoats.)

IIRC the financial services industry pay a quarter of gov. revenues. And is a (the?) major exporter too. We are already in the brink, If Britain were to lose this industry, we would be in such a crisis, and for so long, that we would probably end up poorer than Spain. But it just occurred to me now that if just HSBC leaves Britain, the market reaction could be enough to trigger a cascade of "no-confidence".

The point I am concerned about is the hidden subsidy the banks get, I have posted this on the DT and Mail. If they want to take the subsidy from elsewhere I'd be delighted. I really don't see why money should be created via the BoE, allowed to circulate round the financial industry (which takes a huge cut), before loaning it back the to the Government at higher interest that we all end up paying.No wealth has been created on route, the Government might as well just set up a loans board and let individuals and companies borrow from that at a lower rate, or alternatively do that but backed by a Gold standard so they can't over print.

Cameron really doesn't get it and doesn't understand how the financial system works, how it has been rigged so the banks do nothing to create wealth and literally just game the system.

He continues to allow the banks to take at least £100bn a year in subsidy from the UK - far worse than British Leyland.

The subsidy comes from the ability to borrow from the Bank of England at ultra low rates whilst charging everyone else more; their ability to create credit, effectively making loans with cash they never had; the Bailout itself which was literally just giving the banks a brown envelope of cash to make good their bad investments and prop up asset prices; dubious tax rules that means many will avoid paying tax by using previous losses; and finally the dubious accounting rules that mean profits can be declared when loans are clearly bad but haven't hit the books.

All in all the complete system has been rigged and set up for the benefit of banks. It is quite literally the biggest fraud of the millennium. Yes strangely no one has gone to prison.

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Cameron is an out of touch PR spiv and he doesn't have the intellectual horse power to do the job,

I am hoping the coalition will fail soon and that he gets the boot, to replaced by David Davis.

Is intellectual horse power really that essential to being PM? Seems to me that a more important qualification is having good hair (hence Neil Kinnock, William Hague and IDS never stood a chance, and neither would I!).

I have suspected ever since David Davis pulled that weird by-election stunt after losing the leadership race to Cameron that he is playing the long game.

On the main point, is it really the Bankers themselves that are the problem, or the whole Banking System (i.e. the whole premise of Fractional Reserve Banking)? Are bonuses the cause of the problem, or just a symptom of the Banks unique ability to create money out of thin air?

Edited by simonstock

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The point I am concerned about is the hidden subsidy the banks get, I have posted this on the DT and Mail. If they want to take the subsidy from elsewhere I'd be delighted. I really don't see why money should be created via the BoE, allowed to circulate round the financial industry (which takes a huge cut), before loaning it back the to the Government at higher interest that we all end up paying.No wealth has been created on route, the Government might as well just set up a loans board and let individuals and companies borrow from that at a lower rate, or alternatively do that but backed by a Gold standard so they can't over print.

It is a scam. A way of gifting the bank losers and gamblrd public money so they can pay themselves big money to extend and pretend that they are functional entities.

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Well said Dave.

We are a world leader in finance & banking. It employs millions and generates billions in taxes.

It is also in large part comprised of foreign nationals, foreign companies, and wealthy people who are very mobile and willing to jump to our competitors.

Why the hell are we so bent on driving that industry away. I hope the man on the street has a better motivation than mere jealousy?

Cameron is right to protect, speak out for, and support the industry.

Edited by Kyoto

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IIRC the financial services industry pay a quarter of gov. revenues. And is a (the?) major exporter too. We are already in the brink, If Britain were to lose this industry, we would be in such a crisis, and for so long, that we would probably end up poorer than Spain. But it just occurred to me now that if just HSBC leaves Britain, the market reaction could be enough to trigger a cascade of "no-confidence".

There are plenty of countries that do better than Britain without playing host to a global scamming parasite industry. The bankers should just ****** off. They do our country no good whatsoever.

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Cameron in a wanabee banker that failed his banking exams. The government is run by Trillionaire banker Nat Rothschild. The only mystery to me is how 40% of the UK public can be moronic enough to vote them in. I suppose, in fairness, the silly little game of let's pretend democracy needs to reassure people they somehow matter.

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I agree completely.

I think that John Major was the last PM with this attitude.

Power corrupts. I always really liked Sarah Teather, to me the archetypal hard-working constituency-focused LibDem MP fighting on the frontline for her constituents. These days you won't find a more enthusiastic supporter of the coalition. Her maiden speech to the commons in 2003 was a stirring and emotional attack on tuition fees. Recently she had little difficulty in voting them through.

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There are plenty of countries that do better than Britain without playing host to a global scamming parasite industry. The bankers should just ****** off. They do our country no good whatsoever.

Everytime someone says this it upsets XXMillion Vi's in the Sarf East who would suffer a massive wealth collapse overKnight :D

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As I keep saying its a farce and won't be voting for any of them.

The best solution is to BOYCOTT all future elections and the General Election and turn it into a farce. Although a government would be formed it would not have a mandate.

All the parties are a different brand and face, but underneath its the Banksta/Corporatism (border line fascist, especially with the EU agenda).

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Yes Prime Minister.

The modern day Humphrey clearly has Davlie Cameron wrapped around his finger. Humphrey is controlled by the money men.

If they did a referendum about banker's pay and bonuses a huge percentage of the population would want to cut them. Therefore we no longer have a government that represents the people.

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Cameron didnt oppose in opposition.

Now he is PM, he isnt opposing the criminal banksters.

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I agree completely.

I think that John Major was the last PM with this attitude.

:lol:

Carlysle Group, a bankrupted UK automotive company. Top trougher.

The last decent prime minister we had was Harold Wilson. He kept us out of Vietnam whilst we were still deeply in debt to the US.

Look what happened to him. He was subjected to treasonous plots, slandered and reviled. Much like ex president Carter.

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It's nothing to do with hammering bankers - it's all to do with bringing the wholly corrupt City back under control and new regulation so that the general population are not exposed to their greed and 100% guaranteed.

Spot on. If the banks hadn't behaved so despicably the public would not have too much of an issue with bonuses. It would be a distraction, nothing more.

The real issue like you say is not just with bonuses it's about all the things the likes of vince cable, the conservatives (and later the coalition) talked about none of which will happen:

1. Break up the big state owned banks

2. Enforce split between retail & investment banks

3. Effective regulation

4. Increased accountability

5. Restraint on pay and bonuses (£2000 :lol: )

But they don't want 1, 2, 3 or 4 on the agenda. Cameron wants this to be about bonuses and he intends to face down the whole country over it so everything else can be brushed under the carpet.

Again, and I'll keep saying it if anybody thinks that the Tories would have been more effective dealing with the banks than Labour they are in cloud cuckoo land. We would already have been taken down.

Edited by needsleep

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Why the hell are we so bent on driving that industry away. I hope the man on the street has a better motivation than mere jealousy?

At this stage its just another media witch hunt.

As I keep saying its a farce and won't be voting for any of them.

The best solution is to BOYCOTT all future elections and the General Election and turn it into a farce. Although a government would be formed it would not have a mandate.

All the parties are a different brand and face, but underneath its the Banksta/Corporatism (border line fascist, especially with the EU agenda).

No. Don't boycott. Already the party in power governs with no mandate, not keeping to your mandate and not having one amount to the same thing whilst in power.

The only thing to do is vote for other parties and independents. A vote for the big 3 is a vote for things to carry on the way they are. A vote for nobody is a default vote for the big 3.

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:lol:

Carlysle Group, a bankrupted UK automotive company. Top trougher.

The last decent prime minister we had was Harold Wilson. He kept us out of Vietnam whilst we were still deeply in debt to the US.

Look what happened to him. He was subjected to treasonous plots, slandered and reviled. Much like ex president Carter.

A statue to Lord Wilson exists outside Huddersfield Railway Station. Looking back perhaps he wasn't so bad. Thanks to his chancellor Roy Jenkins, I think they managed to balance the budget, not that they had much choice due to repeated sterling crisis. He ducked out of Union Reform. A modest academic PM that wasn't rich or out to get rich, and had a healthy dislike for all speculators (the Gnomes of Zurich).

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