shetlandpeat Posted April 5, 2013 Report Share Posted April 5, 2013 Your good with the name calling grumpt. Sadly, the amounts you speak about will make little difference to the overall picture. It would just be for show.Banks however are machines, they are not personal. Folk should be hit if they manipulate a machine to do their bidding which is not in the interest of the machine as a whole, which is what happened, though the machine would not complain. as for me getting upset, I feel you are the one shouting names...something I have not done to you...ah well. Good fun though. Quote Link to comment Share on other sites More sharing options...
Distortio Posted June 27, 2013 Report Share Posted June 27, 2013 so proof at last, as if anyone were in any doubt, that the bankers who caused the financial collapse were/are holding government to ransom. http://www.independent.ie/business/irish/inside-anglo-the-secret-recordings-29366837.html Mr Bowe speaks about how the State had been asked for €7bn to bail out Anglo – but Anglo's negotiators knew all along this was not enough to save the bank. The plan was that once the State began the flow of money, it would be unable to stop. Mr Bowe is asked by Mr Fitzgerald how they had come up with the figure of €7bn. He laughs as he is taped saying: "Just, as Drummer (then-CEO David Drumm) would say, 'picked it out of my ass'." He also says: "If they (Central Bank) saw the enormity of it up front, they might decide they have a choice. You know what I mean? "They might say the cost to the taxpayer is too high . . . if it doesn't look too big at the outset . . . if it looks big, big enough to be important, but not too big that it kind of spoils everything, then, then I think you have a chance. So I think it can creep up." Mr Fitzgerald, the Director of Retail Banking, is heard saying: "Yeah. They've got skin in the game and that is the key." Mr Bowe's comments in the audio recording reveal that Anglo's strategy was to lure the State in, leaving taxpayers with no choice but to continue to provide loans to "support their money". The recording also shows Mr Bowe and Mr Fitzgerald laughing as they say how there is no realistic chance of ever repaying the loans. Quote Link to comment Share on other sites More sharing options...
Gorgonzola Butt-cheese Posted August 4, 2013 Report Share Posted August 4, 2013 Quote Link to comment Share on other sites More sharing options...
Scraplet Posted August 9, 2013 Report Share Posted August 9, 2013 Wow, an elected official in the UK with what appears to be a sound grasp of economics and banking! I never thought I'd see the day. It is a shame that the view he is promoting is on another paradigm from that of virtually every other politician and central banker. It will only be met with ridicule and offense, as it was in the video. When the next (ie real) collapse happens, and we yet again look around for a cause, perhaps then people will start realizing the truth of Hayek's 'fatal conceit', as referenced by the speaker in the video. "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design." F.A. Hayek. No system of regulation and centralised control will organize capital, resources and people more effectively than a free market. As with the banks, regulation just opens the doors for special interests, rent-seeking, and corporate power grabs. There would be no "too big to fail" in a free market. Time to get used to this idea, people, before our society goes down the tubes. This recession we are experiencing is just the warning shot across the bows! Quote Link to comment Share on other sites More sharing options...
Gorgonzola Butt-cheese Posted December 2, 2013 Report Share Posted December 2, 2013 News from Iceland http://rt.com/news/iceland-debt-relief-measure-535/ Quote Link to comment Share on other sites More sharing options...
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