Very Sad.
As an antepodean observer (ex Blue and player in finance) may I point out your govts, current and past have spent billions upon billions to support:
- "The City" (a Thatcher creation - f*ck maunufacturing just go with financial services);
- Billions bailing out banks after their high risk practices; and,
- Middle class welfare that will never be touched.
Consider that $3-4 Trillion in FX exchanges hands A DAY. A third of that volume is though "The City". So at least $1T flys through London a day.
$250Trillion a year. $250,000 Billion a year.
Would $20B USD keep the squadrons alive? Thats less than 12 hours FX activity what about a wee bailout for the boys?
BBC NEWS | Business | UK banks receive £37bn bail-out
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