Helping out the banks.

Discussion in 'Current Affairs, News and Analysis' started by Winstanley, Oct 8, 2008.

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  1. I have just been listening to BBC Radio 4 News. It seems that the Government has bailed out the banks - at a cost of at least £50bn.

    I am uneasy. The banks have been screwing ordinary people. They have been taking all sorts of unwise decisions. Banking executives and shareholders have benefitted, earning many millions of pounds.

    Let us nationalise the banks (putting them in social ownership). I am fed up with the economy being run for the rich. We need to run the economy, and society, for the benefit of people at large.

    Labour - established to represent working people - has lost its way. Since 1997 - and probably before - Labour politicians have seen government as an opportunity to line their nests. Think Tony Blair and all of his 'rewards' - millions of pounds!

    May the economy and society be changed for the benefit of all.

    Changing the Labour leader is a red herring. What we need is a fundamental change of policy for the benefit of all.
  2. msr

    msr LE

    It is being run by 'society', we all owe £2,000 now ;)

    And what makes you think nationalised industry is more efficient than the market?

  3. Excuse my maths (if incorrect) but doesn't it work out at about £830,000 for every person in the country? just give us the money instead? That will boost the economy.

    Is a Billion a million million or a thousand million? If it's a thousand million ignore the above. :roll:

    Anyway whatever it is divide £50 Billion between every taxpayer and let us decide what we do with it? :D

    Power (and cash) to the people!! :D :D
  4. And they certainly help out anyone who is overdrawn by a fraction. Letter £25 and interest at about 19.5. on the outstanding issue.

    These days are long gone for me - my children get sorted now FFS.
  5. Trans-sane

    Trans-sane LE Book Reviewer

    What he said. In fact there is a pretty huge body of evidence confirming that nationalized industries are in fact crap. Afterall there is no insentive to be successful for the middle and high level managers as any profit will be swallowed up by the Treasury.
  6. Why do I feel like I've just been mugged?
    Nothing has been done to address the causes of the problem, just more money (my fecking money) poured into proping up a system thats broken.
  7. Vote catching or what?

    Every headline says - Darling but it is clear whose clammy hand is behind every move - the disgraceful 'Stalin' Brown.

    Mindful of the laws of libel, I am sceptical about the man from The Forest of Dean who this morning was in 'floods of tears' having lost so much with the Iceland banks.

    Lo! This evening he is on the wireless singing the praises of the government - "......... they care about ordinary people..... ".

    I can barely believe that I heard this man say those words.

    Then I remembered, Forerst of Dean, marginal constituency - held by the Tory Party.

    Stand by everyone for even greater unhappiness - this government id finsihed but it refuses to accept the fact.
  8. There's a pretty fair body of evidence that private businesses are crap too, you just need to open a newspaper or switch on the telly to find it. After all there's no incentive to be sensible for the middle and high level managers as the benefit to society is to be swallowed up in bonuses.

    The bankers can whinge that the minutae of regulation meant this, that or the next condition existed all they like. But until we sit them down with a nice warm cuppa and get a detailed description of exactly which Minister of the Crown held a gun to their heads and forced them to take fucking stupid risks with other people's money for short term personal gain, I'll reserve my sympathy for those who deserve it.

    If we need to preserve the banking system, so be it. I can see a certain logic behind that. That's not to say that the same old faces need to be involved. What's wrong with buying the assets at a knock-down (market) price and punting these cunts out on their arrses? They've spent long enough beating us small folk round the head with the mantra of the market, let them feel the downside for a change. If we leave them in place, they'll do the same thing again once they get the opportunity.

  9. If you can make one heap of all your winnings,
    And risk it on one turn of pitch and toss.

    And lose, and start again at your beginnings;
    and never breathe a word about your loss.

    If you can force your heart and nerve and sinew,
    to serve their turn long after they are gone;

    And so hold on when there is nothing in you;
    except the will which says to them, ' Hold On'.
  10. Excuse me for p'ing on everyones chips, but isn't the total aid figure closer
    to £500 billion ??? The original £50 billion bail out plus £450 billion in additional loans.
  11. Unfortunately the only people you can seriously replace them with are the same sort of arrses that caused the problem in the first place. The trouble is that they let so much crap go on for so long that everybody got used to it and now can't cope when the old rules are re-imposed.
  12. A million million is indeed a billion in the traditional English sense, however the Americans have always used a thousand million as a billion and this is now been adopted in this country.

    In the same way a thousand billion is a trillion rather than a billion billion being a trillion.
  13. I may be a bit thick but one thing really baffles me about all this high finance. The US Government is providing £700 billion to their banks and our lot are making £500 billion plus to our banks so thats £1200 billion just for our two countries. Where is this money coming from? Does it really exist is it tangible? If it is where was it before this debacle happened? Was it under a lot of peoples matrasses of buried in someone's garden. The worrying thing about all this is that the same lot of greedy w/bankers will be handling this cash. On Radio 4 today today no one from the Liabour Government could outline what procedures were in place to stop these w/bankers again paying themselves gross bounuses from the tax payers' bail out. I don't gamble but I am willing to wager half a crown that some do rip off this money and when challenged use the Human Rights Act to protect themselves.
  14. What no one appears to be asking is 'WHERE THE F*CK IS THIS MONEY GOING TO COME FROM????' Brown had already bankrupted the country before this nonsense started so if he is 'guaranteeing' left right and centre, where will he get the money? I heard on the Biased Broadcasting Corp this evening that it will be 'borrowed' - well, where from, at what rate of interest? Ladies and Gentlemen, if you thought that Gordon had taxed you to the hilt over the last 11 years, you ain't seen nothing yet! We will be in hock until the year 3000.

    The other issue I have is that in the US, the rescue package was argued over and pulled apart by the Senate who were directed by the people who voted them in. In the Peoples Democratic Republic of UK, Gordon goes into a huddle of one, promises to 'make the right long term decisions for the good of the country', then calls the glove puppets in to tell them what he's going to do.

    FFS, Monday, on the first day of parliament, the day when our elected representatives returned from their 3 month Summer holiday to discuss the financial crisis engulfing our once great nation, the Liarbour benches were nearly f*cking empty! What were they exercising their 'great intellects' over? How to force a smacking ban through parliament via the back door. Cnuts, rant over.
  15. Can somebody explain to me why £2,000 is spent, out of my tax towards helping out the banks after years of criminal practices. Not long ago I required a small amount of money from my former bank to sort out my finances, I was denied this small amount of money so they could continue to force me to pay extorniate fees to them. Now my finances are sorted out and I'm suddenly expected to help float the banking system that would rather see me bankrupt than financially soound.