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Lord Myners makes no apology for bonus tax …
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=4934		 Page 1 of 1
Author:  MrStevenRogers [ Mon Dec 14, 2009 4:30 pm ]
Post subject:  Lord Myners makes no apology for bonus tax …
Quote:
Tullett Prebon, a broker that arranges trades between banks and employs 700 people in the Square Mile, began to deliver on that threat today.

The company said it “will seek to facilitate, where possible and appropriate, relocation to the company’s other offices around the world which have more certain taxation regimes.” The news of the firm's plans to help staff move to other offices in New Jersey, Hong Kong, Singapore and Tokyo was first reported by Sky News.


http://www.telegraph.co.uk/finance/news ... ondon.html

all this does is give us warning that the bankers can ruin (again) any economy from anywhere in the world so that they can maintain their bonuses

bankers you just gotta luv 'em …
Author:  jonbwfc [ Mon Dec 14, 2009 9:22 pm ]
Post subject:  Re: Lord Myners makes no apology for bonus tax …
MrStevenRogers wrote:
all this does is give us warning that the bankers can ruin (again) any economy from anywhere in the world so that they can maintain their bonuses

Not entirely true. The reason Britain was hit so badly by the credit crunch (much more so than say Germany or France) is that since the 1980's (Thatcher, basically) we pretty much dismantled our manufacturing industry and built our economy around 'invisible' industries - basically service industries and finance. That meant that when the finance sector went belly up, we were much more badly affected than those countries with a more diversified economy.

So, to put it bluntly, if a chunk of the finance sector DID f*** off somewhere else, forcing our economy to become more diversified as a consequence, we might actually be more insulated from the damage the next time the bunch of chinless idiots decide to be the farm on a fool's premise. basically, we'd be passing a chunk off the risk off to someone else.

MrStevenRogers wrote:
bankers you just gotta luv 'em …

Because, sadly, you're not allowed to kill them.

Jon
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