Bankers are indulging in âblackmailâ for threatening to flee the City of London for more business-friendly locations in Asia over tough new caps on pay and bonuses, European commissioner Michel Barnier has told UK MPs. The man in charge of internal markets and services, in his first appearance before a committee of the British parliament on Monday, said he was ânot overly impressedâ at the idea that that financial institutions could leave such a financial heartland. http://www.ft.com/cms/s/0/af5e9df6-06e3-11e0-8c29-00144feabdc0.html#axzz181qmlV3T Banksters engaged in blackmail? Never ever. Ben Bernanke knows.
it's not blackmail.. it's call playing hardball. the bankers got the ball and call the shots. give us tax cuts and privelleges bail us out or you get a 'recession' or major market 'crash' recession is bad for votes. in other words, the banks own the economy AND the financial markets.
what is so crazy about saying- if you levy punitive taxes on us we'll relocate. hell i'll do the same if the US starts to tax too punitively.