Mister M Posted March 3, 2011 Share Posted March 3, 2011 What exactly do the bankers do? This isn't a snidey question as I genuinely don't know. I understand that they employ many people in this country i.e. through branches on the High Streets etc - mortgage advisers and the like. But as I gather it's the investment side that's caused the problems (?) How is it that our economy became so dependent on a few people who could have such an influence on the politcal process. Shouldn't our elected representatives been aware that as globalisation and technology gathered apace then power would become more concentrated in the hands of people who owe this country nothing. Of course I understand that this has always been the case somewhat; but in the past there were different parts of the economy to cope if there were difficulties in one particular area then another area would take up the slack. If anyone has got any links that's would be helpful. I've tried reading the newspapers, but they presuppose you have knowledge which I don't have. Link to comment Share on other sites More sharing options...
evildrneil Posted March 3, 2011 Share Posted March 3, 2011 The second figure is fairly meaningless as the buy out of the banks amounts to around 100% of GDP and we have that as a result in assets, property, mortgages etc. Of course it's not meaningless - even if we have assets et al we still have to pay out vast amounts of interest on the money borrowed to cover the banking buy out. Link to comment Share on other sites More sharing options...
redruby Posted March 4, 2011 Share Posted March 4, 2011 Good article here http://www.guardian.co.uk/commentisfree/2011/mar/03/deborah-orr-mervyn-king-banks Link to comment Share on other sites More sharing options...
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