wazzles
Re:Silicon Milkroundabout: Forget the banks, come and join a London st...
on Thursday May 05, 2011 @10:39AM (#2517517)
Robert Peston is generally a waste of space.
UK GDP is around 1.5 trillion. Therefore we spent the equivalent of ONE WHOLE YEAR OF OUTPUT FOR THE WHOLE COUNTRY on bailing out the banks. You do not solve a debt crisis with more debt. You do not solve a financial crisis by supporting the financial institutions that caused it in the first place. Northern Rock has no assets other than a bunch of shit 125% mortgages and repo'd Barrats buy to let flats worth cents on the dollar. The idea this could turn a profit is absurd.
Re:Silicon Milkroundabout: Forget the banks, come and join a London st...
on Thursday May 05, 2011 @07:06AM (#2516860)
Um, nice try.
Takes a lot of 50 billions to add up to 1.5 trillion. Especially when you include interest.
http://www.telegraph.co.uk/finance/newsbysector/banksandfina...
Re:Silicon Milkroundabout: Forget the banks, come and join a London st...
on Thursday May 05, 2011 @06:47AM (#2516823)
Yea it's definitely a non trivial problem to rip people off with as much success as the likes of Goldman. IBs are completely socially useless, excessively criminal, and for the most part just exploit clients through front-running etc. I used to work for one, now I work for a startup that actually makes stuff. Happy days.
Re:Silicon Milkroundabout: Forget the banks, come and join a London st...
on Thursday May 05, 2011 @06:38AM (#2516809)
yup 35 - 40k starting, 50 to 60k after a few years, over 100k possible after 5 (top tier IB)