Paid cash in, counted and weighed. Bank now disputes figure.

[sidicks]

Granfondo said:

Could you please explain in simple language for the "ignorant" to "grasp" what was the main reason for the "crisis" ?

Multiple reasons, discussed on numerous occasions. Excessive lending was one part.

[Granfondo]

sidicks said:

Granfondo said:

People may be "ignorant" but can "grasp" the fact that the reason behind the banking crisis was pure greed by the banking industry and if the banks didn't trust other banks to lend to each other then that says it all really!!!

No it wasn't.

Read what you wrote above!

[sidicks]

Granfondo said:

sidicks said:

Granfondo said:

People may be "ignorant" but can "grasp" the fact that the reason behind the banking crisis was pure greed by the banking industry and if the banks didn't trust other banks to lend to each other then that says it all really!!!

No it wasn't.

Read what you wrote above!

1. You implied there was one reason for the crisis - there were multiple reasons
2. You implied the reason was pure greed, whereas excessive lending was not linked solely to greed.

HTH

[HOGEPH]

[drainbrain]

I back the greed theory.

Not only the cause of the crisis but the reason underlying all the post-crisis wrongdoings requiring uncovering and compensation on a massive scale for as well.

GREED.

[sidicks]

drainbrain said:

I back the greed theory.

Not only the cause of the crisis but the reason underlying all the post-crisis wrongdoings requiring uncovering and compensation on a massive scale for as well.

GREED.

Greed was a factor. One of the causes. Greed from a lot of different parties.

Edited by sidicks on Saturday 18th February 12:16

[drainbrain]

HOGEPH said:

[Granfondo]

sidicks said:

Granfondo said:

sidicks said:

Granfondo said:

People may be "ignorant" but can "grasp" the fact that the reason behind the banking crisis was pure greed by the banking industry and if the banks didn't trust other banks to lend to each other then that says it all really!!!

No it wasn't.

Read what you wrote above!

1. You implied there was one reason for the crisis - there were multiple reasons
2. You implied the reason was pure greed, whereas excessive lending was not linked solely to greed.

HTH

Watch The Big Short .

[drainbrain]

sidicks said:

Greed from a lot of different parties.

Yes pre-crisis the greed was almost universal.

But post crisis? 100% the banks. Greed again. Greed-in-panic. Super ugly, highly destructive, counter productive and totally unnecessary.

Not really what businesspeople would expect from their erstwhile financial partner. Nor what loyal retail customers expected from their trusted financial safe-house.

[Granfondo]

drainbrain said:

sidicks said:

Greed from a lot of different parties.

Yes pre-crisis the greed was almost universal.

But post crisis? 100% the banks. Greed again. Greed-in-panic. Super ugly, highly destructive, counter productive and totally unnecessary.

Not really what businesspeople would expect from their erstwhile financial partner. Nor what loyal retail customers expected from their trusted financial safe-house.


Lots of people in the financial sector in total denial!

[sidicks]

Granfondo said:

Watch The Big Short .

Perhaps you'd be surprised that film was a comedy drama, not a documentary?!

Edited by sidicks on Saturday 18th February 12:46

[sidicks]

drainbrain said:

Yes pre-crisis the greed was almost universal.

But post crisis? 100% the banks. Greed again. Greed-in-panic. Super ugly, highly destructive, counter productive and totally unnecessary.

Not really what businesspeople would expect from their erstwhile financial partner. Nor what loyal retail customers expected from their trusted financial safe-house.

Things that occurred post crisis weren't a cause of the crisis.

HTH

[Granfondo]

sidicks said:

Granfondo said:

Watch The Big Short .

Maybe Holywood made the crash up and really it didn't happen?

Denial is strong from you!

[sidicks]

Granfondo said:

Maybe Holywood made the crash up and really it didn't happen?

Denial is strong from you!

I've said no such thing. Once again, you seem determined to misrepresent what I've said, even though it's pretty straightforward.

If you think that bankers were entirely and solely to blame then that's your ignorance, not mine.

I'm out.

(By the way, sorry to disappoint you, but Star Wars isn't real either)...

Edited by sidicks on Saturday 18th February 12:50

[drainbrain]

sidicks said:

Things that occurred post crisis weren't a cause of the crisis.

That's true. But reacting to a greed inspired crisis by being even greedier isn't indicative of much common sense never mind wisdom.

Actually, it's STILL going on which is why "recovery" is so weak for so many.

[Granfondo]

sidicks said:

Granfondo said:

Maybe Holywood made the crash up and really it didn't happen?

Denial is strong from you!

I've said no such thing. Once again, you seem determined to misrepresent what I've said, even though it's pretty straightforward.

If you think that bankers were entirely and solely to blame then that's your ignorance, not mine.

I'm out.

(By the way, sorry to disappoint you, but Star Wars isn't real either)...

Edited by sidicks on Saturday 18th February 12:50

Are you saying the American housing crash wasn't real either?

[sidicks]

Granfondo said:

Are you saying the American housing crash wasn't real either?

[drainbrain]

sidicks said:

Don't know why you're laughing. A cat with half a blind eye could see the housing crash in the UK happening. And you're probably one of the people who could see from the inside that it was all heading towards the cliff edge. So why weren't you (and the others) shouting and yelling about it? Probably because the greed culture was so pervasive that you'd have made yourself(ves) pariahs like a whistleblowing cop in CID.

So you just sit there watching all this chaos coming down and what? Laugh? Some people would say that makes you even more to blame than the fools who were causing it (with their greed).

Ooh what fun!! property goes up in price 15% YOY!! Gimme more and more loan money to get more and more of it!!!!

Then it dawns that either wages have to go up to make ever increasing payments affordable or unaffordable stock starts to stagnate the market. And if wages do go up and kickstart a wage/price spiral then value and gain get lost to inflation apart from the contraction in the market via the rising interest rates attempting to contain the inflation. And if the wages don't go up who's going to be able to buy this 15%yoy increasing property?

That 'shot by both sides' is hard to foresee, isn't it?

So why would the institutions keep growing and growing their property loan books? Why APART from plain simple greed??

[Granfondo]

There want much at Lehman Bros!

[drainbrain]

https://www.socialeurope.eu/wp-content/uploads/201...


Now, about that £60 our teller mistakenly credited you, you now owe us £90 and if it's not back by Friday it'll be £150...o, and another £25 for this 'phone call...