Banks - Bankers

[Jairzinho]

Well fuck the rest of you, personally i think its bloody decent of william pitt the younger to make an appearance on the thread.

[littletedwest]

4) it was Labour's 'make em poor, keep em

poor' vote buying policy (aka the 'welfare'

state) that created the majority of the public

debt

 

not really sure how universal health care for all and a safety net for those in need "makes em poor"

 

on my phone so can't really be arsed typing a long message but most of your other points are shite as well.

[stringvest]

If they're not a public service, how come they cost the government so much money? They should be giving us hand jobs at the fucking ATM.

They should be giving us atm at the atm.

 

[General Dryness]

They should be giving us atm at the atm.

 

Careful what you wish for. You might end up being the a and the m.

[stringvest]

Labours mess? Moosebrain.

I hope the Tories privatise the national elk service.

 

[Bjornebye]

Labours mess? Moosebrain.

I hope the Tories privatise the national elk service.

 

hahahahahahahahaha someone rep him for me 

[General Dryness]

Deer oh deer.

[Alan Sex]

[Bjornebye]

came in, tried to grab it by the horns with his own antle, and fucked up royally. 

[Guest Numero Veinticinco]

Ooh, I'm going to enjoy this. Rico wouldn't know a fact if it was shoved up his mangina.

[Guest LFD]

9) I'm moosebreath and I'm here to straighten this place out a bit

 

That made me laugh, I'll rep that.

 

Don't give a shit about the political points.

[Guest Numero Veinticinco]

I just started writing a diatribe at that post, when I realised that it's fucking Stu or somebody having a laugh? Right?

[Strontium]

 

4) it was Labour's 'make em poor, keep em poor' vote buying policy (aka the 'welfare' state) that created the majority of the public debt

not really sure how universal health care for all and a safety net for those in need "makes em poor"

 

Is the NHS considered part of the "welfare state" as we typically use the term?

 

I thought he was talking more about benefits.

 

Hasn't something gone badly wrong when those areas that were the poorest 30 or 40 years ago are still the poorest in the country? I think so, but maybe others disagree.

[General Dryness]

I just started writing a diatribe at that post, when I realised that it's fucking Stu or somebody having a laugh? Right?

 

D'ya think?

[Guest Numero Veinticinco]

D'ya think?

It's quite a sad reflection on both my ability to separate the real from the surreal, and on society itself, that I genuinely have no idea.

[General Dryness]

It's quite a sad reflection on both my ability to separate the real from the surreal, and on society itself, that I genuinely have no idea.

 

Stinks of socks to me.

[Section_31]

Never been arsed about the bankers really, I think it's a bit of a straw man which the politicians like to wheel out on Questiontime 'let's not 'bash the bakers' etc. The problem isn't the player, it's the system which allows them to play. Fish gonna swim yo.

[General Dryness]

Never been arsed about the bankers really, I think it's a bit of a straw man which the politicians like to wheel out on Questiontime 'let's not 'bash the bakers' etc. The problem isn't the player, it's the system which allows them to play. Fish gonna swim yo.

 

But they're the ones who've got all the dough.

[Section_31]

But they're the ones who've got all the dough.

 

I imagine bankers don't figure much in the league of highest paid in London these days. Thing on the telly last week about 'the scandal' of property developers in the smoke offering property to the wealthy in the Middle East and Asia years before they're built and anyone over here gets a sniff. It's hilarious in its own way, where once the barrow boy bought a second home and pissed off the locals whose kids had to move to another post code, now the barrow boy is getting priced out by some Russians. The country just pimps itself out to money, the working class got wiped out 20 years ago and now the middle class is getting shat on, it'll squeeze and squeeze and squeeze until there's nothing left.

[Kevin D]

My daddy is a banker and he banks all day.

[Jose Jones]

I imagine bankers don't figure much in the league of highest paid in London these days. Thing on the telly last week about 'the scandal' of property developers in the smoke offering property to the wealthy in the Middle East and Asia years before they're built and anyone over here gets a sniff. It's hilarious in its own way, where once the barrow boy bought a second home and pissed off the locals whose kids had to move to another post code, now the barrow boy is getting priced out by some Russians. The country just pimps itself out to money, the working class got wiped out 20 years ago and now the middle class is getting shat on, it'll squeeze and squeeze and squeeze until there's nothing left.

 

The financialisation of capitalism is exactly what is wrong with the system though.

 

The short term chase of profit to satisfy shareholders (financial institutions) with dividends over long term company health.  The rampant risk taking to justify and generate masses bonuses which are seen as rights by those in the financial industry, that fucked world economies.  

Constant cost cutting, outsourcing and staff sacking to generate short term financial windfalls to justify executive pay - mostly to the detriment of the companies they work for and the general good.

Driving worker conditions ever downward for the same reasons to the detriment of the greater economy.

The increasing disparity of pay between executives and general employees (30 years ago average CEO pay used to be about 40 times that of the average employee - now it is 400 times) 

All of this has been led and fueled by the financial industry.

 

If you want to cure anything there's an obvious place to start.

[KopOut]

Couple of minor points:

 

1) the banks and the government aren't the same thing, banking salaries are set by supply and demand, not by the government

 

2) if you dispute the above, remember Labour presided over the banking crisis, not the tories

 

3) the public purse stands to benefit from bank 'bailouts' (they were never actually bailouts), which is helping to fund things like the raising of the tax free allowance which has made millions of hard working people better off

 

4) it was Labour's 'make em poor, keep em poor' vote buying policy (aka the 'welfare' state) that created the majority of the public debt

 

5) regardless of who is in power right now, Labour's mess needs to be cleaned up by cuts, that's something even Labour themselves agree with (infact that's one of an hilariously long list of Tory policies that Labour initially denounced only to change their minds once the realised it worked)

 

6) we are more or less the fastest growing economy in the developed world

 

7) employment is at record levels

 

8) the country is booming

 

9) I'm moosebreath and I'm here to straighten this place out a bit

Moosey,

 

You can't have growth without more debt. The growth factor is built into the monetary policy of ALL government, left or right, because of the forming of the Bank Of England in 1694. Prior to that, the King issued the money, created the money supply and banks were just secondary lenders (full reserve banking - see a previous post of mine on the "Cameron:" topic). in fact since the time of William The Conqueror, England was virtually inflation free for over 500 years, and the use of TALLY STICKS. 

 

We have an ever expanding money supply, devaluing the 'fiat' currency, because banks do NOT create the interest on the loans. The interest is the killer. We borrow the money, to create it - then we can use it - ergo we have a 'means of exchange' to TRADE with; however, we have to pay back the loans with INTEREST that is NOT created.

 

The result is spiraling debt. The exotic financial instruments like CDOs and Derivatives, obviously overly complicate an already out of control system, and yes, they are   d  a  n  g  e  r  o  u  s... ("Derivatives are the real weapons of mass destruction" - Warren Buffett) but essentially Fractional Reserve banking is the basis of all money supplies in all modern economies. 

https://www.youtube.com/watch?v=bE8i-4HpKlM

[Bobby Hundreds]

EU takes historic step to stop banks betting on hunger

By Miriam Ross, 15 January 2014

Limits to curb speculation on food prices agreed

UK blocks proposals for tougher regulation

EU negotiators last night agreed to introduce regulation to prevent speculation by banks and hedge funds driving up food prices and exacerbating the global hunger crisis. The new controls will place a limit on the number of food contracts that banks and other finance companies can hold, and will force traders to open their activity to greater public scrutiny.

Anti-poverty campaign group the World Development Movement has hailed the decision as an historic step forward, but said that the UK government’s opposition to tough controls has resulted in serious loopholes in the regulation. In particular, limits will be set at national rather than EU level, which campaigners say risks a regulatory ‘race to the bottom’ as countries could compete to set weaker limits.

The group is urging the European regulator ESMA to ensure that the new rules are implemented effectively, and not watered down further by industry lobbying.

Goldman Sachs, Barclays, Deutsche Bank, JP Morgan and Morgan Stanley together made an estimated £2.2 billion from speculating on food including wheat, maize and soy between 2010 and 2012. Speculation increases price volatility and has been a major factor in the sharp spikes in global food prices of the last six years.

Nick Dearden, director of the World Development Movement, said today:

Public outrage over food speculation has been huge and the fact that the EU has listened to that anger is a victory for public pressure. But the UK’s role in watering down the regulation has been a disgrace. The Treasury has put the profits of banks like Goldman Sachs above the basic human need for food, with the result that the new rules could be too weak to be effective. Yesterday’s agreement is a good step forward, but now we need to make sure the limits are set at a level that properly tackles excessive speculation.

The new rules on food speculation are part of a major piece of European financial reform, the Markets in Financial Instruments Directive (MiFID). Once it has been officially approved by MEPs and EU finance ministers, it must be incorporated into national legislation in each of the 28 EU member states.

Contact the World Development Movement's press office

- See more at: http://www.wdm.org.uk/food-and-hunger/eu-takes-historic-step-stop-banks-betting-hunger#sthash.t0E21bZU.dpuf

 

The UK government the biggest twats in Europe.

 

Also I don't believe the whole economy is looking great bollocks where money saved comes form the poorest and selling off state assets many people and economists for what they are worth are saying osbourne has pretty much copied brown and created another housing bubble and if as moose says employment is at record highs then it must of complete by passed my area and a large number of people who I know. I'll just use an example of where I work we have roughly around 10 lads on zero hours not one of them has been called into work since around December the 29th, all classed as full time employed all completely fucked but they tick that little employment box. This right infront of my eyes is why I don't believe for one second any employment figures.

 

That's just one company I've got friends in the same boat in zero hour contracts for other companies, my mates younger brother is on zero hours he's had 5 days work spread across a month, he's classed as full time employed. So yeah despite the figures we are giving and the politicians slapping each other on the back I don't see it as great. I also don't accept the shite better 5 days work than none at all, its no argument or I'd at least accept that as an arguement if you didn't class the rest of the month not working as still full time employed.

[Stu Monty]

Negs distributed to silly people that don't understand what facts are.

 

Labour's mess may well from this point entitle the user to five future negs, not decided if that's official policy yet or not.

 

Better debt to GDP ratio than Japan, US, Germany, France and Italy when they left. Despite a crisis caused by the same economic model promoted by Tories.

 

Stop. Talking. Bobbins.

[Strontium]

Never been arsed about the bankers really, I think it's a bit of a straw man which the politicians like to wheel out on Questiontime 'let's not 'bash the bakers' etc. The problem isn't the player, it's the system which allows them to play. Fish gonna swim yo.

Bankers were no different to households, we all took advantage of the cheap debt that was on offer, which is why the economy overheated so much, and why it crashed so spectacularly.