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Post by marchesarosa on Dec 10, 2009 13:49:57 GMT
Is this what has been done re the banking crisis?
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Post by admin on Dec 10, 2009 13:52:54 GMT
very possibly  |
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Post by arealfarmer on Dec 10, 2009 13:59:39 GMT
Of course ! That's what happens when you let idiot socialists in charge of the levers of power .
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Post by marchesarosa on Dec 10, 2009 14:03:17 GMT
Oh, I thought Nulab was to blame.
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Post by arealfarmer on Dec 10, 2009 14:06:45 GMT
Oh, I thought Nulab was to blame.  If it barks and wags its tail - its a dog. If it nationalises , increases taxes and goes on a spending binge - its a socialist . |
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Post by Jade on Dec 10, 2009 15:57:55 GMT
Some Gov't sometime in the future is going to reap a huge fat reward, though
I am surprised more isn't mentioned about that.
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aubrey
WH Member
Seeker for Truth and Penitence
Posts: 665
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Post by aubrey on Dec 10, 2009 17:52:05 GMT
Oh, I thought Nulab was to blame. If it barks and wags its tail - its a dog. If it nationalises , increases taxes and goes on a spending binge - its a socialist . Labour have gone out of their way not to say socialist for the last 13-14 years. And M Thatcher increased taxes - so, was she socialist? (Indirect taxes are only bad if Labour introduces them, though.) |
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Post by alanseago on Dec 11, 2009 8:42:36 GMT
She also doubled VAT, thereby doubling Britain's contributions to Europe, in order to win her famous 'rebate'.
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Post by iamspecial on Dec 11, 2009 9:20:24 GMT
Guess you'd not have been happy if your bank had gone bust.
You would have got your money back if under £25000 savings - but how long would it have taken? and what would you have had to live on?
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Post by Jade on Dec 11, 2009 9:38:51 GMT
I am amazed more Englishers don't realise that Brown did in fact save us from chaos
Mind you - the only paper that would have said it is the mirror, and maybe the maths was too hard
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Post by iamspecial on Dec 11, 2009 9:46:31 GMT
I am amazed more Englishers don't realise that Brown did in fact save us from chaos Mind you - the only paper that would have said it is the mirror, and maybe the maths was too hard clap clap clap - glad someone else recognised this |
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Post by arealfarmer on Dec 11, 2009 10:04:50 GMT
NO, no, no, no !
He caused it by stoking up a boom and taking away regulation from the bank of England . Then he failed to gaurantee saver deposits immediately which would have stopped saver panic . The banks should have been left to go bust . Shareholders could have been left to hang -that is their role .
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Post by Jade on Dec 11, 2009 10:09:14 GMT
o fgs farmer, you need a break from your dailies
really? banks left to go bust?
that would have helped?
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Post by Jade on Dec 11, 2009 11:39:46 GMT
and again he leads and others follow
Gordon Brown claimed a victory for the government tonight after securing the support of France and Germany for its supertax on City bonuses amid signs that major Wall Street firms were attempting to prevent a similar clampdown by the Obama administration.
Goldman Sachs, the highest profile firm on Wall Street, became the first to blink in the face of the public outcry over its expected handout of £14bn in pay and bonuses this year, by suspending cash bonuses for its top 30 executives.
The decision, which will affect six of its executives in London, is expected to set the tone for rivals on Wall Street and could send ripples across the Atlantic. It is believed to be among the options being considered by Barclays as part of a review of remuneration.
The warm international reception for Brown's bonus tax held out the prospect that the prime minister could secure a much-needed political boost, as he did when other countries followed his lead on recapitalising the banks last year.
(Guardian)
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Post by marchesarosa on Dec 11, 2009 16:49:54 GMT
Brown presided over the dismantling of regulation, believed the boom would go on for ever and merrily took credit for the "good times".
No, the banks could not have been allowed to fail but having put so much into them the taxpayer deserves a say in how they operate henceforward. I think the one year tax on bonuses is a mere gesture. Quite naturally the government is still running scared of the power of World finance to make and break economies and governments.
Only a few decades ago by far the lion's share of currency transactions was for the purposes of trade - a foreigner has to buy sterling in order to buy British goods. Now, thanks to computerisation, by far the lions share of currency transactions are for the purposes of speculation. It requires world wide co-operation to stop this and get back to a sane situation where trade takes precedence and the currency profiteering and other "socially useless" activities are reined in.
It's a shame it has taken a Labour Chancellor-cum-Prime Minister so long to come to this realisation.
Let's hope something more than pious headlines come out of this Damascus Road conversion.
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