Re: Stop bashing the bankers, Davos meeting told

Give the bankers what they deserve.  Pitchforks and torches.

Mike F.




-----Original Message----- 
From: Lance McLain
Sent: Sunday, January 30, 2011 11:40 AM
To: DADL topic) (off
Subject: [DADL-OT] Stop bashing the bankers, Davos meeting told

http://www.ft.com/cms/s/0/df9e7000-2b04-11e0-a2f3-00144feab49a.html#axzz1CWzhpaha

Stop bashing the bankers, Davos meeting told
By Patrick Jenkins and Francesco Guerrera in Davos
Published: January 28 2011 18:05 | Last updated: January 28 2011 18:05
Governments around the world must stop banker-bashing and create the
right environment for lenders to support economic growth, some of the
world’s most powerful bankers will tell finance ministers on Saturday.

Bankers say the meeting will be an effort to replicate internationally
the attempt by UK banks to persuade the government to make peace. “We
need to stop authorities around the world throwing sticks and stones
at us. We should be past that now,” said one.

...

Another gripe is related to government debt. “One of the reasons for
getting into the mess we got into was the over-indebtedness of
countries, as well as the over-indebtedness of companies and banks,”
said one European bank boss.
“Governments must bear some responsibility for the crisis.”

Bankers also complain that the global regulatory drive is being
carried to absurd extremes, with individual banks forced to hold tens
of billions of dollars worth of government bonds.

“With that degree of liquidity reserves, how can you lend more money
to business, as governments want, let alone make profits?” asked one
banker.

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