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PaulB - you seem blind to the economics facts, perhaps intentionally.
The bankers are a convenient scapegoat for governments and our Labour opposition.
Look to the UK and our problems.
Yes they do stem in part from a disease that has seeped into many governments, not just ours, by which for a fair few years they lived beyond their income. If the UK had been run along more sensible economic lines over the last 13 years we would not have been nearly so deep in the do-do...
Yes, PaulB lets cut out the politics and you are completely wrong, full stop.
The problem started when the world went into a cyclical downturn. Downturns come along as certainly as day and night but, of course, Gordon Brown thought he had banned that cycle of day and night, oops boom and bust....and ran the economy as if he really had, poor fool.
The banks got into trouble BECAUSE OF THE DOWNTURN. The British banks were in a worse position than most, why? Because Gordon Brown abandoned sensible regulation by the Bank of England in 1997 and encouraged them to take risks.
An example was told to me by a friend who is a former Chief Exec of a bank before 1997 and retired soon after Labour got to power. Before 1997 he had to visit the Bank of England once every 3 months with his senior management team. At that meeting they were quizzed on every aspect of their bank's dealings and the BoE had quite draconian powers over them if they did not like what they heard. Gordon Brown's reforms in 1997 changed all that and those visits stopped. What is more Brown encouraged them to take risks in his first Mansion House speech.
Some banks went heavily into the USA after 1997 as a market they believed had massive opportunities, in response to what Brown said and did things they would have previously been banned from including the buying of small struggling US banks. Needless to say that the banks that did this were the worse hit when the downturn hit the USA and Clinton's idiotic reforms turned into a disaster.
So stop trying to blame the banks and letting Labour off the hook. I keep telling you the facts yet you still keep on peddling Labour's excuses and lies.
I have not yet reminded you of the other reasons for the UK's recession to be the deepest and longest of any.
Labour's ovespending, the failed inflation brief to the Bank of England and so on....