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My budget wish - less FSA regulation
Comments
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shortchanged wrote: »So you are saying they were irresponsible then chucky?
Blimey short...don't ask him for an opinion.0 -
the answer is on Post 40 - feel free to avoid itshortchanged wrote: »Yes fair point Graham, that probably wasn't a good move.
why are you so slow and don't understand things, didn't you learn ever learn how to read properly?Graham_Devon wrote: »Blimey short...don't ask him for an opinion.0 -
Yes fair point Graham, that probably wasn't a good move.Graham_Devon wrote: »Blimey short...don't ask him for an opinion. 0 -
who the banks?? if you're saying irresponsible mortgage lending caused issues to the UK banking industry you're wrong.
the banks are driven by profit which is driven by shareholders. if you're going to blame banks, you would need to blame pension funds,investment funds and the individual share holders demanding profit from the banks.
Shareholders in Boeing don't demand that they make unsafe aircraft.
Shareholders in Glaxo don't demand that they make dangerous drugs.
I don't think shareholders in Northern Rock demanded that they take great risks and end up being nationalised. If NRs shares hadn't gone from £1 to £10 is a relatively short space of time, I doubt their shareholders would have been complaining as much as when they hit the buffers and dropped like a stone.
HSBCs shares hadn't increased in price anything like NRs, and they came out of the credit crunch in a lot healthier state.
IMO, blaming the banks actions on their shareholders is a bit of a cop out.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
i didn't - i said they're all to blame. blaiming the banks exclusively is too easy and probably a bit too short sighted and ignorant.IMO, blaming the banks actions on their shareholders is a bit of a cop out.
it's good that you mention these companies. the aircraft industry and pharmaceutical have very stringent regulation and however much companies try to cut costs they have to adhere to the regulations.Shareholders in Boeing don't demand that they make unsafe aircraft.
Shareholders in Glaxo don't demand that they make dangerous drugs.
have a look at the fines that their regulators give out to these companies - they're massive compared to what the FSA rolls out. Glaxo got a $750 million fine just recently Boeing paid one 0f $600m a few years ago, try fining a bank that and you'll see the shareholders and pension funds revolt0 -
try fining a bank that and you'll see the shareholders and pension funds revolt
So ?
They'll come back, when they see the banks being more carefull. The FSA/government should grow a pair and get tough with the banks, otherwise it'll only be a matter of time before the taxpayer is having to step in again.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
which is exactly the point that banks and by default their shareholders have probably too much power.So ?
They'll come back, when they see the banks being more carefull. The FSA/government should grow a pair and get tough with the banks, otherwise it'll only be a matter of time before the taxpayer is having to step in again.
it's lovely saying that they should do something about it but actually doing it is a bit harder... if it was so easy it would have been done already by any of the 4 governments, but they haven't.0 -
which is exactly the point that banks and by default their shareholders have probably too much power.
it's lovely saying that they should do something about it but actually doing it is a bit harder... if it was so easy it would have been done already by any of the 4 governments, but they haven't.
They manage it with Glaxo/Boeing/Others, why not with the banks ?
Of course, there is the often used threat that the big banks will move out of the UK, but that's where the FSA/gov need to be a bit clever. Give the banks tax incentives if they behave themselves, and fines if they don't.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
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jeeeez, as i said before a fool trying to call someone else a fool is a bit stupid.Graham_Devon wrote: »Did you not learn how to construct sentences?
As I said earlier, stop trying making yourself look like a fool.
it's conrad's thread !!!!!!, stop trying to spoil it by making it into another graham devon show.0
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