OK guys, who`s getting angry?

Annpan

boyse7en wrote: »

Personally I'm angry that the bankers have been getting enormous bonuses for years when they've effectively been selling the company away underneath them, leaving us (as depositers, borrowers and taxpayers) to pick up the pieces.

I wish there was someway to hold these greedy idiots to account and confiscate their ill-gotten gains. There must be millions that could go back in the coffers and help right some of the wrong.

Generali

Sir_Humphrey wrote: »

I'm glad that Neoliberal Jackson Pollocks (rhyming slang) has finally been shown up for the sham it always was.

I am depressed that it has taken economic disaster for this to happen.

In the longer term I feel cautiously optimistic. This may prove to be the catalyst for better policy in the future with an end to market fundamentalism.

Bring on the Socialist Nivana Brother Humphrey. State controls of banks have failed again. What do we need? More state controls!

leviathan

Vindicated.
Quite secure.
Ready for taking advantage of a depressed market.
Waiting for those in negative equity to panic.

Being angry isn't going to accompalish anything.

Whilst he govt aint doing the right thing for me, their efforts are having little effect anyway and everyone thinks they are bumbling idiots.
So no matter if they make the "wrong" decisions, the outcome is still going to be the same:
Bad for those with debt.

fc123

Alan_M wrote: »

For business people like me, the short term future is not about profit it's about survival.

I am cross and really p1$$ed off to put it politely.

I haven't been on here as much as I've been following the whole Bauger mess linled to the Iceland mess.
Many on this board have shown anger at being priced out of the housing market..........and the same has applied to retail businesses in my sector.
A Bauger fascia arrives on your St and your rent doubled at the next review.
Except Indie stores work on far smaller margins so couldn't afford to stay in business despite their product offer being great.

It's not just rubbish shops that have been killed off over the past few years, good ones have gone too.

The whole retail pyramid scheme run by the various companies.
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4894904.ece
has helped create the whole Clone Town and Clone Shopping Centre experience......only other big guys (P Green etc) could compete with them.

So I trade alongside 3 Baugur funded fascias and I won't survive unless our landlord suspends our rent review for at least 3 years...I have also asked for a reduction to match the drop in T/O in the past 14 months.

We are used to having crisis' and T/O slumps through various reasons....but they usually correct after 6 - 9 months of working through the issue.
This drop I can't salvage.

I can subsidise the whole set up with e-tail BUT I can't physically fit all my roles into the hours available.....I can for a while but I'm running out of beans...and without wanting to sound braggy, I usually have a large amount of stamina.

The one thing I am trying to control is that dark feeling of fear (that rears its head late at night) and trying to keep upbeat and full of creative energy....because that is the entire basis of my business and living.

So :mad: :mad:

Sir_Humphrey

Generali wrote: »

Bring on the Socialist Nivana Brother Humphrey. State controls of banks have failed again. What do we need? More state controls!

You must be living in a parallel universe where the Big Bang deregulation, Glass-Steagal repeal, light touch "regulation" etc etc ad nauseum were not in place?



As the FT says today, we're all Social Democrats now!

Dithering_Dad

leviathan wrote: »

Vindicated.
Quite secure.
Ready for taking advantage of a depressed market.
Waiting for those in negative equity to panic.

Being angry isn't going to accompalish anything.

Whilst he govt aint doing the right thing for me, their efforts are having little effect anyway and everyone thinks they are bumbling idiots.
So no matter if they make the "wrong" decisions, the outcome is still going to be the same:
Bad for those with debt.

Hi leviathan. Out of interest, how come you feel you're secure from any financial effects of the recession?

formulaonefan

lostinrates wrote: »

Ours came through from KE this morning. I think that was 9 working days I think - the longet transaction I've ever set up. I was very worried about it last night. Now I don't know where to put it. I'm truely lost in trying to decide in fact.

9 working days??? that's a lot of time. Can I cancel my BACS and setup same day payment?

lostinrates

Annpan, I'd love to pend it, really I would, but I can't, its part of our house fund.

Moggylover...I'm scared tospread it too. everyone seems to be having bad news....at the moment its in Lloyds and HSBC...rubbish interest rates, in fact one of my HSBC counts i not even a savings account...but I'm trying hard to make the next right move.

The plan had been to top up DH's isa and start my own with some of it, and reasonable interest rates in ecure banks with the rest...but who is secure???

A lot of DHs colleagues are buing bonds now...pretty unusual.

On the plus side just spoke to DH, and not wanting to make him sound like HITHman!, he said today suddenly something shelved is going ahead after all, so they are busy doing somethng actual rather than something in preparation for a probable unlikely outcome. That' better for his morale at least.

Generali

Sir_Humphrey wrote: »

As the FT says today, we're all Social Democrats now!

Right up to the point where we have to pay for it and realise that Soak the Rich doesn't work.

Democratic Socialism or Social Democracy or whatever else you want to call it always runs up against 2 fundamental buffers.

The first is that everyone wants to consume state provided services but they hate paying taxes. The second is that the state wants to control people's actions to an ever greater extent (eg the demands to take fat children into care and to ban people from smoking in their own homes).

The Big Bang had nothing to do with this. That was to do with removing minimum commissions and taking out segregated jobs of jobbers, market makers and so on, each of whom was taking a slice.

The banks did precisely what they were told to by regulators. They kept the correct amount in reserve in the correct ratios. I've yet to hear of any bank being accused of not following the rules as laid down by the Governments.

PasturesNew

I thought this would happen, including banks going under, but I never suspected it would all be so big and so spectacular and so panicky.

A year ago my online earnings + my interest was a lot of money.
This month my onilne earnings have dropped below last months'; they're now down by 33% of peak and a client contract ends this Friday for some other work. My savings interest started off in one lump in one 7% interest account, now it's all split up in various banks at lesser rates (no sooner do I get a new bank account than they drop the rates, it would be never ending to keep up with it).

So all in all I am not in as good a position as I expected to be in.

Went for an interview yesterday for a 3 month job, interviewer said they're looking at freelancers now because of the credit crunch and they need to be flexible with their outgoings.