Maybe they will be forced to sell their second homes, allowing good local people to buy them at a lower price.

Hurrah !!

philip, Andover, England

At last - finally people in the banking sector get to suffer the free market pressures and drive for efficiency that the rest of the private sector has had to deal with since 2001. The technology sector has been decimated since then and those working in it never have job security beyond the quarterly results. Finally those in banking might share some of the economic pain they help to cause with their speculative, ruthless practices.

Someone should set up a soup kitchen for the poor dears - serving gazpacho soup made from organic vine tomatoes and delicately spiced with chilies hand-grown on the slopes of the Andes, accompanied by ciabatta bread flown in from a mountain village in Tuscany where it's baked fresh every morning by devoted nuns. That's the high life they're used to, isn't it?

MB, Edinburgh,

It says it all, "the banks don't trust each other", and the public don't trust the banks.

It's high time these untrustworthy people are finally sorted out. To be honest I would rather place my trust in a down to earth steelworker than an overpaid twit who cannot produce anything but numbers based on hot air.

I have worked for the banks and was always amazed at the number of employees doing seemingly nothing except justifying the employment of managers upon managers. 11,000 is not enough, get rid of twice that tomorrow.

This is the year 2008, and they still can't clear a financial transaction inside of three days, no improvement since the year 1800, and to boot charge exorbitant amounts for doing so.

Bob Travels, Stevenage,

How many people work in the city? What percentage of it is 11,000?

Jamie, Halifax, West Yorkshire

Perhaps they will all be employed by Price Waterhouse to find out what they did wrong when working in the City. Hence no loss of jobs just a shift to an even more useless industry.

david, boston , UK

Why the news?

Throughout the 1980's and 1990's, millions of engineering and manufacturing jobs were lost in this period in this country. THAT is a large number of job losses.

Now tell me. We know that the City of London is self financing and an economy of its own that subsidises the rest of the UK, so why can't it subsidise the 11,000 (or more likely 30,000) job losses which a surely a drop in the ocean when compared to the subsidy it makes to the rest of the country.

Probably it is also a drop in the ocean when compared to the £100 billion pounds that Northern Rock are receiving in subsidy and this will come from the very much self financing London economy won't it?

Alistairs Solicitors, South West, UK

dam, thats 11,000 more buy-to-letters for this country!
We're all doomed.

Oliver , Reading, UK

Starting the propaganda for interest rate cuts early this month aren't we?

Alex Ritchie, Salisbury, UK