Nobody seems to much care about the ‘investment bankers in London’ who are losing their jobs recently.  After all, “they got us into this mess in the first place!”

However its not just them losing their jobs as the banks lay people off and/or go bust – in fact its mostly not them!  For instance, many thousands of these jobs are highly skilled jobs in relatively poor areas of Scotland, such as Glasgow.  Without these jobs, there are going to be a lot of skilled people looking for work, or taking their skills elsewhere. 

For instance, and these figures are rough figures off the top of my head, JP Morgan employs 1,000 technology people in Glasgow, earning on average £35k… that is £35m of take home pay.  If you add in Barclays Bank, Barclays Stockbokers, Barclays Wealth, Morgan Stanley and other financial houses, it becomes a huge figure.

The Scottish press, has been notably silent.