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World Wide recession!!!!
billyfridge:
What is going on? I don't understand it.....Why should the Tax payer have to bale the fat cat bankers out of the sh-t they got themselves in?
How will it affect me ???
texasboy:
--- Quote from: billyfridge on October 12, 2008, 11:38:14 pm ---What is going on? I don't understand it.....Why should the Tax payer have to bale the fat cat bankers out of the sh-t they got themselves in?
How will it affect me ???
--- End quote ---
So that the fat cat bankers can continue to charge you everytime you are overdrawn. Shouldnt affect you much unless you become a bad boy. We now own 40% of our banks as taxpayers, but dont let that fool you, because this Labour government hasent got a clue as to what it going on. When you look at the profits that the banks have just made,billions, and they are crying poverty due to the crunch. Yes we are victims. Billy no one gives a Sh*t about us punters out there. The fat cat share holders are looking for the big dividends,and the banks and government will continue to make sure they get their just rewards. You only have to ask yourself .Why are we living in relative poverty, struggling to pay gas/electric/food bills, when suddenly Labour can come up with billions to bale out the robbing bas*ards of banks,who in turn have been putting the screws on us for years with their penalty charges.
Let Gordan try to live in the real world in Manchester with his government pension. Dont think so. Lets see the billions help the people.!!
cheers
Quantum:
Do 2 both honestly think that ::) ? If it hadn't been for the sub-prime mortgage problem in America we'd of been fine, sure the practices may of been a bit loose and fast with debt over here but it would have hardly caused a recession.
So, if the government had left it as it was there was a chance that one of the big U.K banks would of gone under, taking the whole U.K economy with it. Governments deal in abstracts because it's the only way to help everyone out, Gordon Brown can't go round to everyone struggling in the U.K with money problems ad give them £500, for a start it'd cause more problems than it would solve.
Also to counter both your points, assuming that 1 of the big banks don't go under which would of been catastrophic anyway, the government are going to make a fair bit of profit out of this by soaking up shares while they're cheap and selling them when they're back to normal, potentially saving the tax payer or helping build the U.K infrastructure in the future. The real people making a loss out of this is the shareholders.
fuzzytomcat:
--- Quote from: billyfridge on October 12, 2008, 11:38:14 pm ---What is going on? I don't understand it.....Why should the Tax payer have to bale the fat cat bankers out of the sh-t they got themselves in?
How will it affect me ???
--- End quote ---
Hey Billy,
I hate to say it but it looks to me as a complete restructuring of the monetary system and redistribution of the wealth world wide based on the paper it's written on, need more money call the printer. This to me is the down fall of the entire concept of net worth, now it's what the term worth means and to whom, who determines the price, the market or demand. What at one time was based on Gold, Silver or cash in the bank has now been replaced with money owed on paper or commodities on hand ready to sell.
Who is really at fault the bank lending money on shake investments or the business that borrowed and over manufactured and couldn't sell there product, the consumer that made bad economic decisions or that didn't make projected purchases.
When any corporate CEO's make more money than the President or Prime Minister of a entire "COUNTRY" there is something fundamentally wrong, and needs to be corrected.
What worries me is that the United States had this revelation one day that "Things are Economically Bad" out of the blue with little warning, several weeks later the other major countries of the world have the same exact revelation of financial problems with the same warning signs, markets crash, odd to say the least.
And the effects to everyone concerned ...... it's not here yet.
Cheers,
Fuzzy
Quantum:
--- Quote from: fuzzytomcat on October 13, 2008, 11:41:21 am ---When any corporate CEO's make more money than the President or Prime Minister of a entire "COUNTRY" there is something fundamentally wrong, and needs to be corrected.
Cheers,
Fuzzy
--- End quote ---
It's not in the benefit of a country if the person running its motivation is money. Where as it is often useful for a company just looking for profits.
Executive positions in government are paid very little for their responsibilities on purpose..
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