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In banks we trust should not be the mantra for 2009
pjr-s
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12-31-2008 2:28 AM
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/6834e77d-65cb-4e27-83a6-a13f343ced19/7CB09F14-B56E-4796-9540-0374E19ADBAF/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.guardian.co.uk/commentisfree/2008/dec/31/simon-jenkins-comment-debate-banks" href="http://www.guardian.co.uk/commentisfree/2008/dec/31/simon-jenkins-comment-debate-banks" style="font-size: 11px;">www.guardian.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/commentisfree/2008/dec/31/simon-jenkins-comment-debate-banks"><H1>In banks we trust should not be the mantra for 2009</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/commentisfree/2008/dec/31/simon-jenkins-comment-debate-banks"><H2 id="stand-first">Bankers save the economy? You must be joking - they're far too busy feathering their own nests</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/commentisfree/2008/dec/31/simon-jenkins-comment-debate-banks"><li style="margin-left:16px;padding-left: 0px;"> <A href="http://www.guardian.co.uk/profile/simonjenkins"> <IMG height="60" width="60" title="Contributor picture" alt="Simon Jenkins" src="http://static.guim.co.uk/sys-images/Guardian/Pix/contributor/2007/10/03/simon_jenkins_140x140.jpg" class="contributor-pic-small" /> </A> </LI></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/commentisfree/2008/dec/31/simon-jenkins-comment-debate-banks"><P>Who did you see racing from home over the holiday to keep Britain at work? Bankers? You must be joking. Bankers were feathering their balance sheets with £50bn in real money given them by Gordon Brown as a reward for their antics in 2008.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/commentisfree/2008/dec/31/simon-jenkins-comment-debate-banks"><P>Earlier this month I suggested simply giving the lavish sums being expended on banks back to consumers in the form of three-month spending coupons, say of £300 a month. The proposal is being actively considered to boost demand in Germany, Taiwan, Australia and elsewhere. It is better than VAT reductions, tax credits or ponderous public works contracts in instantaneously translating subsidy into demand. At the very least it puts money into the economy rather than taking it out, as do Alastair Darling's <A href="http://www.guardian.co.uk/business/banking">banking</A> subsidies.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/commentisfree/2008/dec/31/simon-jenkins-comment-debate-banks">They seem unaware that bankers do not rescue economies. They rescue banks.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7CB09F14-B56E-4796-9540-0374E19ADBAF/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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