Does the City deserve a kicking?

[OJ]

Clammy said:

One point three million million million of our British pounds has been ploughed in to rectify the recklessness of the banking industry.

I believe that's actually 1.3 quintillion

Edited by OJ on Wednesday 1st April 14:29

[collateral]

As far as I can tell they gambled with the public's money, lost the bet and then went crying to the government for tax payer's cash. We now own them but they are still refusing to lend money.

Correct or incorrect?

[OJ]

This whole thing was caused by stupid lending, and now you want it to continue because the banks have been bailed out?

[quotemehappy]

I dont think these protests will affect the people who they are intended to as much (bankers), there are going to be lots of small businesses that are going to be affected as a result of these protests think the sandwich makers, corner shops etc etc.

[Clammy]

OJ said:

Clammy said:

One point three million million million of our British pounds has been ploughed in to rectify the recklessness of the banking industry.

I believe that's actually 1.3 quintillion

Edited by OJ on Wednesday 1st April 14:29

I confess I had to check and went for the British definition.

freedictionary.com said:

trillion
Noun

1. the number represented as one followed by twelve zeros (1012); a million million
2. (in Britain, originally) the number represented as one followed by eighteen zeros (1018); a million million million

Whichever is correct it's equivalent to a whole load of infrastructure improvements.

What we could've won

[Podie]

collateral said:

As far as I can tell they gambled with the public's money, lost the bet and then went crying to the government for tax payer's cash. We now own them but they are still refusing to lend money.

Correct or incorrect?

They're not refusing to lend money. RBS (for example) have clearly shown they are willing to lend. However, if the customer doesn't come through the door asking to borrow money, what do you do...?

[Bing o]

collateral said:

As far as I can tell they gambled with the public's money, lost the bet and then went crying to the government for tax payer's cash. We now own them but they are still refusing to lend money.

Correct or incorrect?

Poor people got greedy, the government wanted to be elected so allowed the banks to lend to the greedy poor people. The poor people were risky (that's why they were poor), and ended up defaulting on their loans.

In the mean time the government were pissing away all the tax income from the financial sector on non-jobs in the public service and generally pissing it up against the wall. When the banks needed more money, the government, rather than let the free markets run their course, thought that they would remortgage our grand kids future to bail them out.

Thanks to the governments totalitarian control of the media, dumb crusties get angry with the banks, instead of the government.

HTH

[mr_spock]

Mr POD said:

Come the revolution anyone in a suit with smooth hands will be forced to explain what they do for money and why.

Wasn't this Pol Pot's approach?

ETA - sorry, I didn't spot the previous comment on this.

Edited by mr_spock on Wednesday 1st April 14:59

[900T-R]

mr_spock said:

Mr POD said:

Come the revolution anyone in a suit with smooth hands will be forced to explain what they do for money and why.

Wasn't this Pol Pot's approach?

Somehow I don't think he bothered with 'asking' for explanations...

[grumbledoak]

Bing o said:

Poor people got greedy, the government wanted to be elected so allowed the banks to lend to the greedy poor people. The poor people were risky (that's why they were poor), and ended up defaulting on their loans.

In the mean time the government were pissing away all the tax income from the financial sector on non-jobs in the public service and generally pissing it up against the wall. When the banks needed more money, the government, rather than let the free markets run their course, thought that they would remortgage our grand kids future to bail them out.

Thanks to the governments totalitarian control of the media, dumb crusties get angry with the banks, instead of the government.

Succinctly put. And, spot on.


Shame it isn't raining.

[scotal]

Bing o said:

Thanks to the governments totalitarian control of the media, dumb crusties get angry with the banks, instead of the government.HTH

I have to say that the govt have played a blinder on that score.
Really these protests should be outside the FSA and Westminster.

[collateral]

Bing o said:

collateral said:

As far as I can tell they gambled with the public's money, lost the bet and then went crying to the government for tax payer's cash. We now own them but they are still refusing to lend money.

Correct or incorrect?

Poor people got greedy, the government wanted to be elected so allowed the banks to lend to the greedy poor people. The poor people were risky (that's why they were poor), and ended up defaulting on their loans.

In the mean time the government were pissing away all the tax income from the financial sector on non-jobs in the public service and generally pissing it up against the wall. When the banks needed more money, the government, rather than let the free markets run their course, thought that they would remortgage our grand kids future to bail them out.

Thanks to the governments totalitarian control of the media, dumb crusties get angry with the banks, instead of the government.

HTH

Apparently Govnts assumed the banks knew what they were doing.

Lending to 'those who might not be able to pay it back' was a gamble. They lost. Down comes the house of cards unless the Govnt steps in.

[ewenm]

scotal said:

Bing o said:

Thanks to the governments totalitarian control of the media, dumb crusties get angry with the banks, instead of the government.HTH

I have to say that the govt have played a blinder on that score.
Really these protests should be outside the FSA and Westminster.

Of course that would also require the protesters to think. If their interviews are anything to go by, that's not something they've had to do before.

[anonymous-user]

scotal said:

Bing o said:

Thanks to the governments totalitarian control of the media, dumb crusties get angry with the banks, instead of the government.HTH

I have to say that the govt have played a blinder on that score.
Really these protests should be outside the FSA and Westminster.

Yep, but unfortunately the majority of the general public are brain washed idiots........

[Podie]

collateral said:

Bing o said:

collateral said:

As far as I can tell they gambled with the public's money, lost the bet and then went crying to the government for tax payer's cash. We now own them but they are still refusing to lend money.

Correct or incorrect?

Poor people got greedy, the government wanted to be elected so allowed the banks to lend to the greedy poor people. The poor people were risky (that's why they were poor), and ended up defaulting on their loans.

In the mean time the government were pissing away all the tax income from the financial sector on non-jobs in the public service and generally pissing it up against the wall. When the banks needed more money, the government, rather than let the free markets run their course, thought that they would remortgage our grand kids future to bail them out.

Thanks to the governments totalitarian control of the media, dumb crusties get angry with the banks, instead of the government.

HTH

Apparently Govnts assumed the banks knew what they were doing.

Lending to 'those who might not be able to pay it back' was a gamble. They lost. Down comes the house of cards unless the Govnt steps in.

... and we all know what they say about assumption being the mother of all fkups...

Still, MPs can claim expenses which the taxpayer pays for them - after all, they all need a second home, first class travel and porn films... but yeah, banks are evil.

Edited by Podie on Wednesday 1st April 15:08

[300bhp/ton]

Baby Huey said:

Lets keep it simple.

Certainly not!! I work in the city and have naff all to do with what the protests are about.

[OJ]

collateral said:

Apparently Govnts assumed the banks knew what they were doing.

And leaving it open to greedy people, like the benefits system, and like an unattended shop till.

There are greedy people in every walk of life, and the law should be making it difficult for them to take the piss

[collateral]

Podie said:

collateral said:

Bing o said:

collateral said:

As far as I can tell they gambled with the public's money, lost the bet and then went crying to the government for tax payer's cash. We now own them but they are still refusing to lend money.

Correct or incorrect?

Poor people got greedy, the government wanted to be elected so allowed the banks to lend to the greedy poor people. The poor people were risky (that's why they were poor), and ended up defaulting on their loans.

In the mean time the government were pissing away all the tax income from the financial sector on non-jobs in the public service and generally pissing it up against the wall. When the banks needed more money, the government, rather than let the free markets run their course, thought that they would remortgage our grand kids future to bail them out.

Thanks to the governments totalitarian control of the media, dumb crusties get angry with the banks, instead of the government.

HTH

Apparently Govnts assumed the banks knew what they were doing.

Lending to 'those who might not be able to pay it back' was a gamble. They lost. Down comes the house of cards unless the Govnt steps in.

... and we all know what they say about assumption being the mother of all fkups...

Still, MPs can claim expenses which the taxpayer pays for them - after all, they all need a second home, first class travel and porn films... but yeah, banks are evil.

Edited by Podie on Wednesday 1st April 15:08

Don't forget blow a few billion on an illegal war, heh

[Podie]

300bhp/ton said:

Baby Huey said:

Lets keep it simple.

Certainly not!! I work in the city and have naff all to do with what the protests are about.

You must be a capitalist pig to work in the City though!

[BAHN-STORMA]

You don't have to be a capitalist pig to work in the City, but it helps...