Here we go again. It's no wonder the financial industry gets to live another day and have new opportunities to screw the world when you have prime ministers defending them so forcefully. The bankers always toss out the line "if you try to hold us back we will leave" but nobody calls them on it. If only someone would look at their record of losing trillions of dollars. It's not what anyone would consider a good record.
The brokerage model is dying on the vine and the only way they can make serious money these days is if they play games and gamble. We all know how the gambling works out, don't we? Without it, they become just another industry with profits, but nothing that warrants ridiculously high compensation. Let them go and make a mess of someone else's economy. The Guardian:
David Cameron has threatened to wield Britain's veto to block a revision of the Lisbon treaty if fellow European leaders refuse to protect the position of the City of London at the EU summit in Brussels .Forgotten in all of this is just how critical the EU is to the British economy. It currently makes up 47% of UK exports, which is obviously a substantial amount. Is Cameron really ready to throw everyone under the bus just to protect the most poorly behaved industry in the world?
In a marked hardening of his rhetoric, as Eurosceptic Tories called for a recasting of Britain's relationship with the EU, the prime minister said he would not sign any treaty that failed to provide safeguards for Britain's financial services.
