To wonder how a failed Investment Banker (Sajid Javid) is now running the country's finances

[Noextremes2017]

Sajid Javid was reputedly earning £3m a year at Deutche Bank at the time of the financial crash in 2008. Like most of the City Bankers he was above all the damage he did to ordinary people in the UK. Don't know if he was sacked or jumped but he walked into the only other career where bullshit rules (politics).
And now he has decided the country can spend billions of £ more using money it does not have. (the Magic Money Tree Thatcher used to chide Labour about)!
Should we not all be a little worried - given the track record this bloke has?

Tell us about his track record then? What specific products was he involved in that led to the financial crisis?

Could you expand on how he personally failed?

I'm not sure about all of that tbh and have just been trying to find some information but can't ( slow internet on train)

I have met him a few times. He used to my MP. he is a really nice chap and was very interested in the community and schools etc.

His Labour Shadow is someone who openly admires communist dictators and wants to confiscate hundreds of billions of pounds worth of private property.

Sajid seems quite decent in comparison. Oh, and Gordon Brown had been running the entire economy for over a decade by 2008, so it’s funny you missed him out of the history lesson...

Early political activism[edit]
At university, he studied Economics and Politics and during this time he joined the Conservative Party.[13][14]
In 1990, aged 20, Javid attended the annual Conservative Party Conference for the first time and campaigned against the Thatcher government's decision that year to join the European Exchange Rate Mechanism (ERM). He was handing out leaflets against the policy when he first met TV presenter Jeremy Paxman. He has since stated that Paxman first interviewed him at that same conference.[15]
From 1992 until 1996, he lived in New York City and rose to become youngest Vice-President of Chase Manhattan Bank[16] and during this period, he had a spell as an aide to Republican nominee Rudy Giuliani's winning 1993 New York mayoral campaign.[17][16]Javid had an 18-year City career where he rose to become a Board member of Deutsche Bank International.[18] Javid joined Chase Manhattan Bank in New York City immediately after graduation, working mostly in South America. Aged 25,[a] he became a vice president.[19][22][b] He returned to London in 1997, and later joined Deutsche Bank as a director in 2000. In 2004, he became a managing director at Deutsche Bank and, the following year, global head of Emerging Markets Structuring.[24]
In 2007, he relocated to Singapore as head of Deutsche Bank's credit trading, equity convertibles, commodities and private equity businesses in Asia,[25] and was appointed a board member of Deutsche Bank International Limited.
He left Deutsche Bank in 2009 to pursue a career in politics. His earnings at Deutsche Bank would have been roughly £3,000,000 a year at the time he left[26] and the Evening Standard once estimated his career change would have required him to take a 98% pay cut.[27]

Bored & sick to death of the banker bashing. Lazy generalisation without having any detailed knowledge. Speaking as one of the ‘most City Bankers’ who loved and worked through the crisis. And I can assure you I played no part.

Where did you get your info from

If it's possible to earn £3 million a year as a failing investment banker, I think we'd all like to apply for that job. Even if we only had it for one year, before being sacked.

Lived through, not loved through ... clearly!!

The ‘magic money tree’ is wrongly attributed to Thatcher, it’s was May who said that

Javid was reprimanded a number of times by The Speaker & pulled up a number of times by other Conservative MPs earlier today for performing a pro no deal Brexit pitch when
he should have been delivering his spending speech.....well worth a watch 😂

He wasn't a failed banker.

I’m not sure anyone earning £3m a year could be called a failed banker. That’s crazy money.

From the Telegraph:

Sajid Javid is eminently qualified for the post of Chancellor after a successful 18-year City career that saw him rise to board level at Deutsche Bank earning a reputed £3 million a year.

Well this is a hugely failed Mumsnet post thanks to the sheer lack of research.

Well he's in good company then, have you explored the backgrounds of other cabinet ministers? Gavin Williamson, Priti Patel...

If only we could all fail so badly with a CV like his and a £3m a year salary, he’s one of the few cabinet ministers who might actually be qualified for his job

Well you have a racist, misogynist buffoon as PM, so a banker (who didn't fail) as chancellor is nothing.

Jesus fucking Christ, you don’t know if he’s a failed banker, yet your opening line is a declaration he’s a failed banker? Maybe you need to do some research before coming on here, sprouting ‘facts’ you don’t know if real or not?

Bloody hell OP, if your standards are this high I wonder what you think a successful banker is? The man has made his money and has now decided to retire and go into politics. Good for him. What policy is it that you are criticising exactly? And why?

The OP is clearly a politician. Big statements that ignore all the underlying facts, and very little grasp of the business world (with the exception of a few such as Sajid Javid, who clearly has a solid grasp of the business world. You don't get to Board Member level without having that.)

Thanks to @whatsmypassword I’m now seriously impressed by. saiid Javid’s career. If only the Tories had voted for him to be our pm.

Would love to know who the OP thinks would be qualified to deal with big money other than a man who went to a comp and worked his way up in a difficult industry, and became the MD of Deutsche Bank, and CHOSE to leave to become an MP with obviously a huge pay cut, which is apparently a huge failure. But of course he’s a Tory so he couldn’t possibly be anything but evil.

OP, what’s your definition of “failed” and where did you get your info from? You say yourself you don’t know if he was sacked.

@Whiskeywithwater don’t be silly, obviously all of my financial troubles are solely down to you so sick of everyone’s ignorant take on the financial sector.