Cameron

[Skashion]

I personally can't see another situation arising like the one in 2008.

There will never be a time when self cert mortgages are so readily available or where banks could be so highly leveraged, leading to property bubbles. Plus since the FSA has forced a division between retail and investment banking, the Government are far more likely to allow investment banks to fail.

Having said that, I have moved to the richest country in the world, where spending, (and more importantly for me) saving is due to nearly unlimited spending on infrastructure from mineral wealth. So I have hedged my bets a little.

Do you think allowing investment banks to fail would be a wise move? I always supported Labour propping up the banks, did you not? I understand the argument that if they would be allowed to fail they'd be more risk averse and hold larger reserves and hence that would reduce the onset of casino capitalism but I think the banks really are too big to fail, especially when the price of propping them up is very very low.

I'm guessing you're still loving life out there? :-)

 

[Rascal]

FIT

In a sink estate-chique sort of way, I guess.

Hey! Its what im used too pal.

 

[CITYBOY1000]

Dave's 'the magician'. He'll turn it all round.

He's had his work cut-out after the mess that the Labour shower left us with but we are getting there - despite the contrary predictions of the OECD a couple of years back.

C'mon Dave !!!!

 

[gordondaviesmoustache]

FIT

In a sink estate-chique sort of way, I guess.

Hey! Its what im used too pal.

Yes, Downtown Cheadle is so reminiscent of Benchill it's uncanny.

 

[Rascal]

In a sink estate-chique sort of way, I guess.

Hey! Its what im used too pal.

Yes, Downtown Cheadle is so reminiscent of Benchill it's uncanny.

People dont realise West Cheadle is posh as fuck, East Cheadle where I live is council estates.

Most round here where I live were moved out of Ardwick in the 60s.

Our council ward got more Labour votes than the tories :))

 

[gordondaviesmoustache]

Hey! Its what im used too pal.

Yes, Downtown Cheadle is so reminiscent of Benchill it's uncanny.

People dont realise West Cheadle is posh as fuck, East Cheadle where I live is council estates.

Most round here where I live were moved out of Ardwick in the 60s.

Our council ward got more Labour votes than the tories :))

 

[Bill]

its actually embarrassing that labour followers , grown men at that, can be so wooden as to think the labour party can run a country.

frightening.

 

[BWTAC]

its actually embarrassing that labour followers , grown men at that, can be so wooden as to think the labour party can run a country.

frightening.

I find it more embarrassing that a working man can be so blinkered to think that people born into wealth and haven't worked a day in their lives are able to run the country, now that's frightening.

 

[TheMightyQuinn]

When the man with a blue tie fucks everything up we can blame the man with a red tie for fucking things up before that although he'll only blame the man in the blue tie before him for fucking everything up and that guy blames the man in a red tie before him.

Imagine that played out over hundreds of years.

It's offensive that people still humour the illusion.

 

[SWP's back]

I personally can't see another situation arising like the one in 2008.

There will never be a time when self cert mortgages are so readily available or where banks could be so highly leveraged, leading to property bubbles. Plus since the FSA has forced a division between retail and investment banking, the Government are far more likely to allow investment banks to fail.

Having said that, I have moved to the richest country in the world, where spending, (and more importantly for me) saving is due to nearly unlimited spending on infrastructure from mineral wealth. So I have hedged my bets a little.

Do you think allowing investment banks to fail would be a wise move? I always supported Labour propping up the banks, did you not? I understand the argument that if they would be allowed to fail they'd be more risk averse and hold larger reserves and hence that would reduce the onset of casino capitalism but I think the banks really are too big to fail, especially when the price of propping them up is very very low.

I'm guessing you're still loving life out there? :-)

Let as many investment banks go to the wall as you like. Absolutely.

The Labour Governement's best thing during their near two decades in charge was to semi-nationalise and so save the banks. But they were retail banks. They could not be allowed to fail. It would have meant the end of the banking sector and economy as a whole for a decade plus. The then government handled the crisis better than most other countries and with efforts will be looked upon very well by history.

No Government would be forced into that decision again going forward.

If investment houses wish to gamble their investors money then so be it. Every fund has a risk rating and investors have their own choice accordingly. What could not be allowed to happen was for people with life savings on deposit in savings accounts to lose their money.

I am very much in favour of the new system.