| Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Re:Three cheers for those 'magnificent' students......... | |
| Posted by: | William Beausire | |
| Date/Time: | 14/11/10 12:11:00 |
| "And, I think, that most of us now - post-financial meltdown - have a much better 'knowledge of the financial services industry' thanks very much." This might apply to you as an individual but in general I don't think this is right. While the population at large may be aware that two or three UK banks got in a mess and needed substantial government help, very few people seem to be aware of the form this help has taken, and the scattergun nature of widespread abuse of "bankers" has generally demonstrated that most people don't really know much about the many ways banks make money. "What about the million or more who will lose their jobs as a result of the self-serving greed and stupidity of the banks?" One of the dubious assumptions contained in this sentence is that a million or more people will lose their jobs. Credible estimates are that more like 500k public sector jobs will go, but at the moment the private sector is creating jobs at a healthy rate. ("In the three months to June 2010, employment in the private sector increased by 308,000" - ONS) In any case, in the unlikely event that the govt makes those job cuts stick they will come over four years and will be mostly through natural wastage. The public sector employs about £6.0m people so there's plenty of natural wastage. By the way Stew, I think that there is no doubt that the banks exist solely to make money. |