Reply from a banker

What should we do about the bankers and their bonuses? The EU Commission has proposed a limit on bonuses within the EU, but this has prompted the response that it would only drive the heavy hitters abroad to New York, Dubai and Singapore.

Here is the response from one right winger posting in the Independent:

It's the taxes that the banks already pay that have funded half the social services this country provides. If you drive these people offshore we will get no tax at all! We lost our manufacturing base to the Germans because of socialist policies, we bankrupted our nation with socialist policies. We are not to blame for the Euro, Germany is to blame. They are the country piggy backing off an undervalued currency for them which just so happens to be an over valued currency for everyone else in the Eurozone. If they kicked out the Germans the currency would float down to its real value which would be about 50% of its current value with the results that their exports would increase substantially & they would be able to compete with the likes of India, Brazil, Turkey, China, Korea & Thailand etc. It is then the Germans whose currency would increase in value & their exports would slow down as they started to suck in cheaper imports & export less. At the moment to Germans are having their cake & eating it & aren't prepared to to share any of the burden. I reiterate it is the Germans that have caused the Eurozone problems so why should we drive out our banking sector to balance the burden that the Germans aren't prepared to fund when they are the reason behind the problem.

The UK banking sector wasn't the cause of the global crisis in 2007; that was down to the American miss-selling their debts to us. The UK banking sector has weathered that storm. No-one in the street lost any money it was the so called filthy rich that took the biggest hits. The UK economy is where it is because Labour borrowed when the country was booming instead of putting away a cushion for a rainy day.

They invented jobs that didn't actually create any wealth & they posted most of these non-productive jobs in their own Labour heartlands knowing full well that when the bust did happen it would be their own supporters that have been sponging off the state with unproductive over paid jobs that would have to take the first hit.

They borrowed money to create Green jobs that also cost a lot & produce nothing. They had to be subsidised by us all to make it worth their time & they got a guaranteed tariff to produce something that no one either wanted or needed which was electricity while we were all in bed asleep.

These are Labour & EU problems which are adding a burden to the lives of every man woman & child in the UK & are nothing to do with the last great UK industry, the banking sector which the greedy Europeans want to get their hands on.