Bankers get a kicking
Discussion
I'm just watching the ex heads of RBS and HBOS trying to explain to a select committee why it wasn't really my fault guv. Fulsome apologies from all, excruciatingly uncomfortable to watch. A bit like a latter day public stocks. Should we pelt them with tomatos or are they just misunderstood?
Bank Bosses Say Sorry For Crisis
Oh that's alright then. Let's all shake hands and carry on as before then.
Oh that's alright then. Let's all shake hands and carry on as before then.
Simpo Two said:
only after some major catastrophe can it be seen that the understood rules of the day were perverse
I think in any period, lending to someone who can't pay back is vaguely risky. Especially as every other person was muttering that this housing boom was going to end. IIRC it was discussed on PH, no less, in around 2005.And apparently they're up to no good again: http://www.bloomberg.com/apps/news?pid=20601087&am...
Edited by ShadownINja on Tuesday 10th February 11:10
ShadownINja said:
Simpo Two said:
only after some major catastrophe can it be seen that the understood rules of the day were perverse
I think in any period, lending to someone who can't pay back is vaguely risky. Especially as every other person was muttering that this housing boom was going to end. IIRC it was discussed on PH, no less, in around 2005.JRM said:
ShadownINja said:
Simpo Two said:
only after some major catastrophe can it be seen that the understood rules of the day were perverse
I think in any period, lending to someone who can't pay back is vaguely risky. Especially as every other person was muttering that this housing boom was going to end. IIRC it was discussed on PH, no less, in around 2005.Edited by ShadownINja on Tuesday 10th February 11:12
Hornby was trying to explain his £60,000 per month retainer from Lloyds TSB. I actually felt quite sorry for the man. I think this is just one of those situations that whatever the miscreants say they're going to be found guilty. I'll bet they've never sat through an agm like this. Maybe all plc's agm’s should be run like select committees with the shareholders acting as a select committee.
ShadownINja said:
Simpo Two said:
only after some major catastrophe can it be seen that the understood rules of the day were perverse
I think in any period, lending to someone who can't pay back is vaguely risky. Especially as every other person was muttering that this housing boom was going to end. IIRC it was discussed on PH, no less, in around 2005.And apparently they're up to no good again: http://www.bloomberg.com/apps/news?pid=20601087&am...
Edited by ShadownINja on Tuesday 10th February 11:10
Who's holding the government to account? or the man the controlled the purse strings for the UK for so long? no one! go onto moneysaving expert and see the hateful people who think it's ok to rack up thousands in debt and just walk away as it's the easy option
but go on, blame the banks because it was just them wasn't it?
idiot.
but go on, blame the banks because it was just them wasn't it?
idiot.
You could hardly blame them. They were allowed to get away with these risky strategies because the rules allowed them. Not much grilling of the FSA, just the heads of the banks.
If one of the large banks was not making as many billions as another you can bet your bottom dollar that they would have been grilled by the shareholders and board. If RBS was not taking in as mush as Lloyds the CEO's would be out and replaced by someone else and the only way they could stay on par was to do the same as the other banks i.e invest in the riskier investments. Obviously this has come home to roost for all the banks but during the boom times this was seen as where all the money was so you can hardly blame them for 'following the money'.
If one of the large banks was not making as many billions as another you can bet your bottom dollar that they would have been grilled by the shareholders and board. If RBS was not taking in as mush as Lloyds the CEO's would be out and replaced by someone else and the only way they could stay on par was to do the same as the other banks i.e invest in the riskier investments. Obviously this has come home to roost for all the banks but during the boom times this was seen as where all the money was so you can hardly blame them for 'following the money'.
BOR said:
10 Pence Short said:
BOR said:
Maybe they'll have to pay back the money they stole ?
Are you really that stupid, or do you enhance it with some kind of pill?Please be aware we might ask you to say a little more than just 'bankers'. You might want to get your copy of The Mirror and start revising.
ianash said:
I'm just watching the ex heads of RBS and HBOS trying to explain to a select committee why it wasn't really my fault guv. Fulsome apologies from all, excruciatingly uncomfortable to watch. A bit like a latter day public stocks. Should we pelt them with tomatos or are they just misunderstood?
Agreed extremely uncomfortable. Who is that John Mann, and how did he become an MP?Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff