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Started by indlovubill on Mar 20, 2020 6:47:40 AM
Are You a 'Key Worker'?
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rearranged - 20 Mar 2020 06:54:38 (#1 of 59)

Parts of financial services are essential, if you need money, to make a payment, receive a payment, get your pension, etc.

However, I work in financial services and must be on a par with dog groomers, aura readers and restaurant reviewers on the key worker scale.

Ginmonkey - 20 Mar 2020 06:58:23 (#2 of 59)

Of course some financial services workers are key workers. Payment processing and getting cash in to cash machines and banks doesn't happen by magic. That mortgage payment holiday is not going to happen just because Boris announced it.

dottie30 - 20 Mar 2020 07:03:02 (#3 of 59)

Banks are essential - that's just silly to question.

I doubt this applies to derivatives traders or hedge funds - its retail banks.

indlovubill - 20 Mar 2020 07:05:04 (#4 of 59)

This doesn't apply to derivatives traders or hedge funds - its retail banks.



I was wondering where the line would be drawn.

dottie30 - 20 Mar 2020 07:05:17 (#5 of 59)

And by the way, financial services are essential if the economy is going to withstand and recover. There's no point suggesting they are not essential to the economy in the broader scheme of things.

And just because someone works in the finance sector, it does not mean they are loaded. Ask a cashier at Lloyds if h/she is not worried about paying the mortgage.

indlovubill - 20 Mar 2020 07:08:10 (#6 of 59)

There's no point suggesting they are not essential to the economy in the broader scheme of things.



Those selling derivatives that sort of thing was the question, where will the line be drawn or won't there be a line?

browserbutton - 20 Mar 2020 07:09:41 (#7 of 59)

A lot of key workers' jobs are being automated these days.

https://tinyurl.com/vvgrj2w

dottie30 - 20 Mar 2020 07:09:55 (#8 of 59)

Of course there will be a line.

(And most traders can trade perfectly well from home though I've heard terribly tragic stories of them struggling on defiantly on a laptop without their multiscreens and only in possession of a sadly delayed Bloomberg feed).

TenGorillas - 20 Mar 2020 07:10:28 (#9 of 59)

I translate contemporary art catalogues for museums. About as far from key work as you can get.

rearranged - 20 Mar 2020 07:11:39 (#10 of 59)

Even derivatives traders have an economic use. A farmer hedging their crop prices, a retailer fixing a currency price on an import arriving in 6 months.

I actually think the equity markets are less valuable at the moment and could be temporarily shut down for improved stability and confidence.

dottie30 - 20 Mar 2020 07:12:56 (#11 of 59)

I actually think the equity markets are less valuable at the moment and could be temporarily shut down for improved stability and confidence.



That's not going to happen. Private equity is desperate right now to take advantage of low prices. And in fact, you could argue they should be allowed to. It's the one time they might have a social use in helping companies not go under.

dottie30 - 20 Mar 2020 07:14:54 (#12 of 59)

https://prospect.org/coronavirus/unsanitized-private-equity-licks-its-chops/

https://www.bloomberg.com/opinion/articles/2020-03-18/private-equity-will-find-asia-bargains-amid-coronavirus

rearranged - 20 Mar 2020 07:18:49 (#13 of 59)

Companies can't only be saved with private equity, debt can be used, even if they use convertibles so give the a greater upside.

I am just concerned that the market, and thus the economic futures of billions of people around the world, could be dependent on who in the West End gets sick last.

indlovubill - 20 Mar 2020 07:20:49 (#14 of 59)

Of course there will be a line.



That was the question.

In a way most people are key workers, my people are key workers and three of our vehicles are booked for M.O.T. testing on Monday. What if the M.O.T. testers don't turn up for work?

HouseOfLametta - 20 Mar 2020 07:21:03 (#15 of 59)

Are You a 'Key Worker'?

No, I'm "skilled".

Tadagee - 20 Mar 2020 07:27:00 (#16 of 59)

In a way most people are key workers, my people are key workers and three of our vehicles are booked for M.O.T. testing on Monday.

That's a @stateoflinkedin worthy comment casually dropping in how many cars you own.

Verdigris - 20 Mar 2020 07:36:24 (#17 of 59)

That's a @stateoflinkedin worthy comment casually dropping in how many cars you own



Presumably, Bill is referring to company vehicles.

ChankNolen - 20 Mar 2020 09:31:29 (#18 of 59)

The important question about this key workers announcement is whether the plan is for people to self-certify. I can see a situation where +/- 50% of the normal school enrolment turn up on Monday with a 'to whom it may concern' letter.

dottie30 - 20 Mar 2020 09:40:51 (#19 of 59)

I don't think that will be possible. My son's school has sent out email/text asking if both parents or a single parent fulfil the 'key worker' role.

dottie30 - 20 Mar 2020 09:43:52 (#20 of 59)

The stuff on the financial services:

"This includes staff needed for essential financial services provision (including but not limited to workers in banks, building societies and financial market infrastructure), the oil, gas, electricity and water sectors (including sewerage), information technology and data infrastructure sector and primary industry supplies to continue during the COVID-19 response, as well as key staff working in the civil nuclear, chemicals, telecommunications (including but not limited to network operations, field engineering, call centre staff, IT and data infrastructure, 999 and 111 critical services), postal services and delivery, payments providers and waste disposal sectors."

So basically that is counter staff, helpdesk staff, IT staff responsible for ensuring the markets keep going, call centre staff. If I went in and told the school my job, they'd (rightly) tell me to fuck off.

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