The Banking Crisis......again !
Discussion
Can I ask the people asking about the banking crisis...
What caused the last one?
Those well known traders?
Or
Would that be the retail banks that you now want to separate? If you do separate them, who pays the next time joe public get greedy and start getting loans/mortgages they can't afford and defaults on the loans, they go bust as you say, then you will be losing all your savings.
What happens then? No retail banks for you to deposit your savings into, so where you going to put it?
Maybe we should have a regulatory body that actually knows what they are doing for a change and regulates the industry, rather than allowing a person in the government to deregulate the industry because it makes the government more money.
Just some thoughts eh...
What caused the last one?
Those well known traders?
Or
Would that be the retail banks that you now want to separate? If you do separate them, who pays the next time joe public get greedy and start getting loans/mortgages they can't afford and defaults on the loans, they go bust as you say, then you will be losing all your savings.
What happens then? No retail banks for you to deposit your savings into, so where you going to put it?
Maybe we should have a regulatory body that actually knows what they are doing for a change and regulates the industry, rather than allowing a person in the government to deregulate the industry because it makes the government more money.
Just some thoughts eh...
McWigglebum4th said:
The basic problem is private schools like eton and where the pupils end up
The really bright ones move into science and industry
The average ones move into banking
The thick ones move into running the country
Where as in a state school the thick ones end up collecting the trolleys in tescos
Sums it all up well. The really bright ones move into science and industry
The average ones move into banking
The thick ones move into running the country
Where as in a state school the thick ones end up collecting the trolleys in tescos
Factory fodder that used to be state school outcomes. Half the youngsters can't even get into them now, or whats left of them. All politicians of the past 50 years should hang their heads in utter shame imo.
sidicks said:
CamMoreRon said:
sidicks said:
We can only imprison people for committing criminal offences, not for incompetence...
Not true. Manslaughter & death by dangerous driving are two things you can be imprisoned for that can have root causes in incompetence.
Seems legit.
Du1point8 said:
Can I ask the people asking about the banking crisis...
What caused the last one?
Those well known traders?
Or
Would that be the retail banks that you now want to separate? If you do separate them, who pays the next time joe public get greedy and start getting loans/mortgages they can't afford and defaults on the loans, they go bust as you say, then you will be losing all your savings.
What happens then? No retail banks for you to deposit your savings into, so where you going to put it?
Maybe we should have a regulatory body that actually knows what they are doing for a change and regulates the industry, rather than allowing a person in the government to deregulate the industry because it makes the government more money.
Just some thoughts eh...
Over ambition on the part of bankers, public and Governments. Who benefited from it all before the crisis - bankers.What caused the last one?
Those well known traders?
Or
Would that be the retail banks that you now want to separate? If you do separate them, who pays the next time joe public get greedy and start getting loans/mortgages they can't afford and defaults on the loans, they go bust as you say, then you will be losing all your savings.
What happens then? No retail banks for you to deposit your savings into, so where you going to put it?
Maybe we should have a regulatory body that actually knows what they are doing for a change and regulates the industry, rather than allowing a person in the government to deregulate the industry because it makes the government more money.
Just some thoughts eh...
Retail banks will have a legislative duty in ensuring all loans fall within a set remit.
If a retail bank has to foreclose then they seize the asset the loan was granted against. Why would savers lose their savings?
Agree about a regulatory body that knows what they are doing 100% But to be fair many investment bankers bosses didn't understand what their traders were up to. Likely didn't much care either.
CamMoreRon said:
Maybe we should have sent 'em on a banking safety course.. shown them some pictures of empty bank accounts.. closed shops.. homeless brokers.. dust-free £50 notes. Scare 'em straight.
Problem is they simply do not care a jot for you, me or any other person outside of their bubble. To do the 'work' means being ruthless with undiluted greed, its how they have to operate to survive in there apparently. The top traders should burn out by the time they hit 40 years age. Poor souls!CamMoreRon said:
So you kill someone because you're unaware of the risks of driving and get imprisoned.. but you ruin a global economy, knowing full well what you were doing, and get what? Another bonus?
Seems legit.
Seems like once again you don't understand what you are talking about.Seems legit.
crankedup said:
Over ambition on the part of bankers, public and Governments. Who benefited from it all before the crisis - bankers.
Seriously? You'd don't think that the whole of the economy benefitted from cheap credit pre-crisis?!
Governments who benefitted from increase GDP and tax income which then resulted in increased spending, benefiting the wider population.
Individuals who could borrow more money, more cheaply and acquire goods
Etc etc
crankedup said:
Retail banks will have a legislative duty in ensuring all loans fall within a set remit.
If a retail bank has to foreclose then they seize the asset the loan was granted against. Why would savers lose their savings?
Agree about a regulatory body that knows what they are doing 100% But to be fair many investment bankers bosses didn't understand what their traders were up to. Likely didn't much care either.
Which investment bank traders caused the problems?.If a retail bank has to foreclose then they seize the asset the loan was granted against. Why would savers lose their savings?
Agree about a regulatory body that knows what they are doing 100% But to be fair many investment bankers bosses didn't understand what their traders were up to. Likely didn't much care either.
Edited by sidicks on Friday 28th November 15:59
pork911 said:
Mrr T said:
Remember the UK banking crisis was about three things, property, property, property.
huh?Unfortunately, the crisis was not just in the UK but in many counties. Further the Governments in many of those countries, including the UK, had decided that tax revenues generated by the boom should be used not to pay off debt but to keep spending.
Mrr T said:
CamMoreRon said:
Not true. Manslaughter & death by dangerous driving are two things you can be imprisoned for that can have root causes in incompetence.
How about (economic) death by dangerous banking..
How about jailing Brown and Ball for unlawful economic incompetence.How about (economic) death by dangerous banking..
sidicks said:
crankedup said:
Over ambition on the part of bankers, public and Governments. Who benefited from it all before the crisis - bankers.
Seriously? You'd don't think that the whole of the economy benefitted from cheap credit pre-crisis?!
Governments who benefitted from increase GDP and tax income which then resulted in increased spending, benefiting the wider population.
Individuals who could borrow more money, more cheaply and acquire goods
Etc etc
crankedup said:
Retail banks will have a legislative duty in ensuring all loans fall within a set remit.
If a retail bank has to foreclose then they seize the asset the loan was granted against. Why would savers lose their savings?t
Agree about a regulatory body that knows what they are doing 100% But to be fair many investment bankers bosses didn't understand what their traders were up to. Likely didn't much care either.
Which investment bank traders caused the problems?.If a retail bank has to foreclose then they seize the asset the loan was granted against. Why would savers lose their savings?t
Agree about a regulatory body that knows what they are doing 100% But to be fair many investment bankers bosses didn't understand what their traders were up to. Likely didn't much care either.
Edited by sidicks on Friday 28th November 15:59
This is a complicated subject but too me the bottom line is that huge risks were taken by a section of the financial
community. When these risks went well huge profits were made,huge bonuses given,all was good.
BUT when "balls fell ",as it was bound to happen, the bankers walked away and all of us have had to bail them out.
To me this is very clear,a simple explanation.
I would like to know what you think went wrong,where the "blame"lies and why you think that nobody should be put in the dock ?
avinalarf said:
I do not wish too get into a slanging match but you appear to have all the answers and suggest others do not have a grasp of the subject.
It's quite obvious that many people do not have a grasp of the subject, as evidenced by the numerous threads on here on this or related subjects.avinalarf said:
This is a complicated subject but too me the bottom line is that huge risks were taken by a section of the financial
community. When these risks went well huge profits were made,huge bonuses given,all was good.
BUT when "balls fell ",as it was bound to happen, the bankers walked away and all of us have had to bail them out.
1. Given that a significant portion of those bonuses were in company shares, when the economy collapsed so did much of the banker's earningscommunity. When these risks went well huge profits were made,huge bonuses given,all was good.
BUT when "balls fell ",as it was bound to happen, the bankers walked away and all of us have had to bail them out.
2. Thousands of bankers lost their jobs
3. The bailout costs are low in comparison to the increased revenue that was generated during the period when the previous government encouraged the era of cheap credit...
avinalarf said:
To me this is very clear,a simple explanation.
Indeed. Clear and simple but not accurate.avinalarf said:
I would like to know what you think went wrong,where the "blame"lies and why you think that nobody should be put in the dock ?
See above (and numerous other similar threads)...sidicks said:
Seems like once again you don't understand what you are talking about.
Seems like once again you don't want anyone to know what I'm talking about.Du1point8 said:
Mrr T said:
CamMoreRon said:
Not true. Manslaughter & death by dangerous driving are two things you can be imprisoned for that can have root causes in incompetence.
How about (economic) death by dangerous banking..
How about jailing Brown and Ball for unlawful economic incompetence.How about (economic) death by dangerous banking..
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