Hanging 20 bankers at the end of the street won't help, says Blair

No I was referring to further taxation and regulation mainly. If laws have been broken then obviously action should be taken but the anti-banking movement wish to go far further by placing increased taxes and regulations restrictions that stretch beyond what the Government has implemented or is in the process of implementing as they mistakenly believe that this will solve the country's problems.

Are you claiming that telling the bankers to obey the law and act honestly - like giving accurate figures for the cost of borrowing - would cause massive capital outflow?

How would risking a massive capital outflow help anything?

And let's not forget laundering drugs money... Hopefully the US will take some action against corrupt and criminal bankers, our own regulatory system is so crap half the time they tell us they don't think it's even illegal.

'Declaring war on the banks' yadda yadda yadda same old tired exaggeration used by people who want the banks to carry on as before. And we all know where that got them, and us. We'd be a damn sight better off if we HAD declared war on greedy corrupt bankers. Instead politicians and regulators have continued to treat them with kid gloves.

The banks are a negative force in this country - how much more evidence do you need that they are a corrupt drain on society? Fixing Libor? Causing the financial crisis and placing a bomb under the whole world economy? Mis-selling scandal after mis-selling scandal? Jeez, if they jumped up and down holding massive placards saying 'we are up to no good' there would still be some sympathisers ready to tell us they are somehow misunderstood and mistreated.

No I'm not a banker, I just think that blaming all the problems in the economy is a very lazy analysis.

Blair's right? You gotta be kidding, although some people did call him Tory Blair.

jrost, are you a banker?

Why don't we do what they've done in Iceland? Indict those in charge, properly nationalise failing banks, abolish debt in mortgage that's above 110% of your property value and put people first.

Whilst our economy is shrinking, their GDP is at 2.3% growth.

Blair's right, the problems in the banking sector and the lack of credit flow in the economy is only one of the problems the economy has. The long term unsustainability of fiscal policy, serious problems in the labour market and increasing regional disparities in economic performance etc are others. Declaring war on the banks will not solve these problems and will almost certainly make them worse.

if you make that 'as well' I may be persuadable...

Hey, I have a much better idea. Why not just hang Tony Blair, instead?

It'd maybe concentrate a few minds. At the moment, bankers know they can damn well get away with it, and even if the very worst happens, they'll have made a pile of cash by the time they are caught out.

Whole financial services industry is riddled with corruption, fraud, exploiting consumers and bad faith - we need a Leveson enquiry to clean out the Augean stables. And it should ask what the hell has happened to our pensions, as well.

I read this long but interesting piece earlier which suggests that it is the politicians who are the guilty guys after all. Enjoy...