Quote:
Originally Posted by halfpint
Us tax payers bailed most of the banks out when the shit hit the fan a year later they are still paying millions of GBP to the top bankers as bonuses the very people who stuffed things up in the first place.
Cuting public sector workers and services has a big impact on the private sector too, so the governments so called cuts and savings hits us all. Then the politicians vote for relaxing thier own expenses so they can basically claim more when only a while ago they were being caught for abusing it. Its like they are squeezing all the workers pockets every way they damm can to fill thier own.
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If the banks had not of been bailed out. The results would of been far far worse, go read about the Depression in the 30s.
The truth is banking is one of the few industries that earns enough to make it so worth keeping them in the UK they can't be penalized. Because if they moved their "investments" sides the loss to the UK economy wold be devastating. Don't forget besides Gordon's borrowing one of the things that kept him spending was the income from the banks. Not the High Street Barclay's Bank. The huge dealing rooms in the City.
Gordon Brown "invested" billions in the UK economy. By expanding up the public sector. Which produces 0 profits. The small amount they spent with the private sector was never enough and frankly if it had of been good economics. The UK would have a far better economy.
There's only one thing that fuels an economy. Profits and exports. If you need to borrow what GB borrowed to prop the system up it's not working. Investment at some point shows a benefit and profit.
The funniest thing is Ed Milliband now is telling people the cuts are too severe as a Labour Leader. While demonstrating in a march that wants 0 cuts. See Portugal, Greece and Ireland for what that means.