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World Wide recession!!!!
texasboy:
--- Quote from: Quantum on October 14, 2008, 06:42:18 am ---[
--- Quote from: texasboy on October 14, 2008, 06:13:28 am ---Our present Labour government seems to be determined to bale these fat cats out in the pretence that we need them to keep the economy stable. Boll*icks!! The banks are a business,just like any other company. They have screwed us all for many years,and mis-management should not be rewarded.
Here are a few links for reading.
--- End quote ---
Well the banks spending isn't "fatcat spending", it's things like giving people a mortgage. So you can try and depersonalise the issues all you want and blame people who are earning a lot of money but it's a systemic failure across lending institutes that had been broadly backed by people and governments. Anyway government policy is to highly curb the excessive bonuses for bank bosses in the future.
--- End quote ---
Quantum, I think that you are being very clinical in your observations and not looking at the big picture. The banks are out there to make any penny they can get their hands on. They make some good and some bad descisions on how they invest. As in the USA the banks forced loans on people that they knew had no hope in hell of ever repaying the money. ie. sub prime. A knock on effect on UK banks in the global market. But UK banks were mostly sound and didnt need baling out. The people do not back lending institutions that dont know how to handle their business affairs . Its only this Labour government that continues to get its ass in trouble,and this started years ago with Blair and his kiss,kiss war (Bush) in Iraq and Afghanistan. We can watch banks pay their employees millions in bonuses while Labour spends a £million every week on these so called wars,and has no concern how the people in the UK struggle to survive. We should be one of the most prosperous nations in the world but alas we do not have anyone to manage the day to day running of iit. The government may be trying to curb fat cat bonuses but they will never suceed. There is a breed of super rich folks that run this country because the government is afraid to step on their toes. (I`m on another PC at moment but will add BBC documentary when I get the chance).
Will continue later.
cheers
Quantum:
--- Quote from: texasboy on October 14, 2008, 10:28:32 am ---Quantum, I think that you are being very clinical in your observations and not looking at the big picture. The banks are out there to make any penny they can get their hands on.
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Yes and our pensions and savings depend on this.
--- Quote from: texasboy on October 14, 2008, 10:28:32 am ---They make some good and some bad descisions on how they invest. As in the USA the banks forced loans on people that they knew had no hope in hell of ever repaying the money. ie. sub prime
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Forced loans on people? Get serious, the majority of sub-primes are at least partly to blame for people not thinking about how they'll ever pay it back and just wanting a house to own.
--- Quote from: texasboy on October 14, 2008, 10:28:32 am ---Its only this Labour government that continues to get its ass in trouble,and this started years ago with Blair and his kiss,kiss war (Bush) in Iraq and Afghanistan. We can watch banks pay their employees millions in bonuses while Labour spends a £million every week on these so called wars,and has no concern how the people in the UK struggle to survive.
--- End quote ---
Your link is somewhat dubious here, wars tend to help economies like ours more than they hurt them.
--- Quote from: texasboy on October 14, 2008, 10:28:32 am ---We should be one of the most prosperous nations in the world but alas we do not have anyone to manage the day to day running of iit. The government may be trying to curb fat cat bonuses but they will never suceed. There is a breed of super rich folks that run this country because the government is afraid to step on their toes.
--- End quote ---
We are one of the most prosperous nations in the world, we have about the 5th/6th highest GDP which is insane for the number of people we have and out limited resources. Like it or not we've done this by having a very financial based economy. Richer people tend to vote more than poorer people, so governments tend to listen to them. But at the moment there is certainly a strong feeling from the middle class and middle class vote in large numbers and there's a lot of them, so this is the strongest force for the government to act on things, so they are and will continue to.
You can't stop businesses rewarding for people getting to the top, it's the was business works and interfering with that too much mucks up economies. Government should regulate and step to stop large problems, not broadly interfere as we can see from history that never ends well. So I do like the idea of tying bonuses in to the banks stocks to encourage sound long term investment.
billyfridge:
'Fat cat's' are human nature, if you manage to climb to the top, you reward yourself, and why not. Communism tried to make everybody equal, doesn't work, it's against human nature. I don't see anybody complaining about footballers exorbitant wages, if anybody is overpaid it's them. (except Man U players of course) [rolleyes].
OK Northern Rock went down! the government stepped in to help, then all of a sudden, four or five other banks were having difficulties, how convenient!! seems to me they were jumping on the band wagon, or gravy train.[mad]
Quantum:
--- Quote from: billyfridge on October 14, 2008, 07:13:52 pm ---'Fat cat's' are human nature, if you manage to climb to the top, you reward yourself, and why not. Communism tried to make everybody equal, doesn't work, it's against human nature. I don't see anybody complaining about footballers exorbitant wages, if anybody is overpaid it's them. (except Man U players of course) [rolleyes].
OK Northern Rock went down! the government stepped in to help, then all of a sudden, four or five other banks were having difficulties, how convenient!! seems to me they were jumping on the band wagon, or gravy train.[mad]
--- End quote ---
Yes, I'm sure facing the possibility of bankruptcy to get a little bit of money out of the government with the cost of your stocks taking a nose dive, your baking leaders being booted, your bonuses being removed and the government taking a certain amount of control over you decisions from then on was on purpose :P
billyfridge:
--- Quote from: Quantum on October 14, 2008, 08:53:18 pm ---
--- Quote from: billyfridge on October 14, 2008, 07:13:52 pm ---'Fat cat's' are human nature, if you manage to climb to the top, you reward yourself, and why not. Communism tried to make everybody equal, doesn't work, it's against human nature. I don't see anybody complaining about footballers exorbitant wages, if anybody is overpaid it's them. (except Man U players of course) [rolleyes].
OK Northern Rock went down! the government stepped in to help, then all of a sudden, four or five other banks were having difficulties, how convenient!! seems to me they were jumping on the band wagon, or gravy train.[mad]
--- End quote ---
Yes, I'm sure facing the possibility of bankruptcy to get a little bit of money out of the government with the cost of your stocks taking a nose dive, your baking leaders being booted, your bonuses being removed and the government taking a certain amount of control over you decisions from then on was on purpose :P
--- End quote ---
What ALL of them at the same time!!!!!!.....stinks to me....they will make money out of it eventually, that is their forte ::)
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