Learn to control money but do not allow it to control you

Firewalker

Thrifty, I had a little go yesterday. The rib-stik is really hard because it is only one wheel. When leg is better (and have insured it to the level of David Beckham's left foot) I'll have a go on a proper skate board. So, what is stopping you?

Also, we can start wearing the uniform from now - hanging jeans are a bit too much for me though. The fear that they will slide off any second now...

Firewalker

Firewalker

Phew! Panic over - the chapter has been finished (well a verison of it anyway) and put in a shared folder for co-author. And I managed to sleep (meaning did not work all night but only part of it).

What is left now is:

to prepare presentations
to do expenses from last week (very important)
to pop in the office to submit afore mentioned expenses
to decide what clothes I am taking
(possibly) iron them (bad timing this trip; it is shortly after another warm place one and before the lady who irons for me comes)
pack
mend relationship(s) with OH who is not very happy with me at the moment;

Tomorrow leaving at 10.20 to sunny. sticky Georgia.

Firewalker

Firewalker

Good evening, my friends and I hope you have had a great start to the week.

I did not go through my list (well, not yet) but spend some of today reading the Vickers report. Its main recomendation is that UK banks shouls separate their retail and their invetsment banking. My question to you is: given that this is clearly done so banks don't get in trouble do you think it will work? Why?

At 21.30 I'll tell you what I think about it and what I have found. Till then (and no I have not gone completely mad; this is something that has very clear relevance to our lives, future and welbeing).

Firewalker

beanielou

Happy Holidays to Georgia

claudiac_2

FW - Had a reply to your difficult question all typed up, and lost it! Will rewrite what I was trying to say and post later. Now it is time for dinner HM soup/HM bread/HM spaghetti bolognaise and butter bread. Mmm I'm so hungry.

Not sure if you are away yet or just going but have a safe trip, and think of us all in wet and windy UK!

Firewalker

Not away and not holiday; wish it was; holiday I mean. Now packing and lovely OH is ironing some t-shirts (past of the timeless fashion I reckon).

So please get some responses in...

FW

beanielou

Ooops sorry, got wrong end of stick as usual.

claudiac_2

Had a pretty good start of the week - Have cut my working hours down so that I can work a bit more on other things, which is exciting for me. I hate being bored by work, or being used at work or knowing that I could be doing better things, so took the bull by the horns and changed it! Time will tell if I have done the right thing but I don't care - I am looking forward to the challenge, and if it all goes wrong I will dust myself down and get up and start all over.


Having only had time for the edited highlights on the banking subject, I would say if you believe what you read then yes it could be a good thing to increase competition, make it easier and troublefree to switch bank accounts, and stop the banks from failing again. BUT, and it is a big but for me - Do you actually believe the report? As far as I understand it the commission was set up to investigate the banks, but did we not have regulation before the collapse? And what use was that? Sorry to be so pessimistic, but I don't believe a word of it. I think it is a political move to try and ensure a win at the next election or something equally as cynical.
Or is that me being cynical?
BTW What a man - he does your ironing???

Firewalker

claudiac wrote: »

BTW What a man - he does your ironing???

He is lovely but ironing in our house is done by someone who comes for an hour a week. This is an exception - OH is much better at it than me and now I can't stand up for any time either.

FW

Firewalker

My answer to the question about whether the policies suggested by the Vickers report are going to work is 'no'.

Assuming that the main suggestion is to separate retail and investment banking it is done so that banks get in trouble with much more difficulty. This will (presumably) minimise risk and volatility. However, research shows that 80% of the world's corporations are controlled by about 700 corporations which are very tightly connected. About 75% are banks.

This means that if any of these 700 organisations gets in trouble the rest of them will. Hence, it matters little what UK banks are allowed to or not do - they will get in trouble because of this tight connection with the other corporations. BTW, Barclays Plc is the most influential corporation in the world.

What is the solution is an entirely different matter.

OK, this is what I entertained myself with today - I wish I can spend some of this energy on anything remotely practical.

I am packed and nails are done. Now a bit of TV and off to bed with my lovely Kindle (and another Swidish story about deranged serial killers; seriously considering resigning position at Swedish university - it is a small country so...).

Firewalker