On Thu, 10 Dec 2009 18:07:36 +0000, Tim W wrote:

http://news.bbc.co.uk/1/hi/uk_politics/8406670.stm

[ "Captain" Darling short of 36 billion ]

And I thought my housekeeping was bad!

Anyone see the last episode of Spooks where the country is about to go
formally bankrupt and Roz saves the day by getting medieval on some gangsta-
banker's ass? Makes you wonder...

They could save 1.5 billion by taking the top layer of the RBS investment
banking arm outside and putting them on community service for 2 years.


I fully understand people's anger at the bankers, but what I don't
understand is where the same people think the wealth and taxes are
going to come from to get the UK out of this recession.

When "New" Labour came to power, 20% of the UK's GDP came from
manufacturing. That is now down to 11%. The importance of the City
of London and its investment bankers is therefore even greater now
than ever before.

Most of the shortfall in Corporation Tax receipts - by far the biggest
hole in Captain Darling's rapidly sinking ship - is a result of the
slump in profits from banking and insurance. So however much we hate
the bankers, unless the financial sector gets its arse back into gear
double quick, we may be in for a long and very painful recession.

Perhaps putting them on community service is not such a good idea?