Hard to explain how bad economic crisis is, says Cable

WardwarkOwner

http://www.bbc.co.uk/news/uk-politics-13480971

Maybe the failure to get this message across is why the genuine hatred and contempt for the bank's incompetent employees isn't as widespread as it should be.

mbga9pgf

Replace "banks incompetent employees" above with "Labour Government" and I would agree with you

WardwarkOwner

mbga9pgf wrote: »

Replace "banks incompetent employees" above with "Labour Government" and I would agree with you

Politicians of all colours are not without blame for their soft stance on the banks, but the VAST majority of the damage was caused by the people that work for the banks.

ermine

And we, the proletariat who vote in politicians that whisper to us that we can have it all because we're worth it had absolutely nothing to do with the debt binge at all? So we didn't borrow money that we counldn't pay back, and take out interest only mortgages with no intent to pay down the principal, just so we could get a bigger house?

It all boils down to greed. The bankers have it in spades, for sure, but they weren't the only ones. Be careful what you vote for, you may just get it. The Great British House Price !!!! Up started with Thatcher selling off the council houses to buy some votes. It just got worse from there on. It wasn't all the bankers wot made us do it.

mbga9pgf

WardwarkOwner wrote: »

Politicians of all colours are not without blame for their soft stance on the banks, but the VAST majority of the damage was caused by the people that work for the banks.

Utter b0llox. The governments responsibility was to regulate. Tony Blair/Gordon Brown's w@nk fantasy was a deregulated bank system that allowed the average joe to borrow at previously unheard of rates, right up to their eyeballs. Labour government, not the banks. The bankers cant fart without the regulators say so, so why were they not prevented from causing damage?

Or, are we to imagine that Gordon Brown with full access to GCHQ info on companies, annual trading reports and widescale reports of 125% mortgages with northern rock didnt know what was really happening? Horse Sh*t.

You are right though, the only person close in power to heeding the warning signs and had the balls to say so was old vince cable. The Tories can take some of the blame, but Labour were at the reigns and should hold the vast majority of the responsiblity.

WardwarkOwner

mbga9pgf wrote: »

Utter b0llox. The governments responsibility was to regulate. Tony Blair/Gordon Brown's w@nk fantasy was a deregulated bank system that allowed the average joe to borrow at previously unheard of rates, right up to their eyeballs. Labour government, not the banks. The bankers cant fart without the regulators say so, so why were they not prevented from causing damage?

Or, are we to imagine that Gordon Brown with full access to GCHQ info on companies, annual trading reports and widescale reports of 125% mortgages with northern rock didnt know what was really happening? Horse Sh*t.

You are right though, the only person close in power to heeding the warning signs and had the balls to say so was old vince cable. The Tories can take some of the blame, but Labour were at the reigns and should hold the vast majority of the responsiblity.

I'm not defending the politicians but to suggest that the bank's employees didn't play the largest part in the banking crisis is, to use your words, bollox.

How can the very same people that chased their bonuses regardless of the cost to the organisation that they worked for not be accountable?

Are you suggesting the banks shouldn't have management and procedures in place, that are regularly reviewed, to stop their staff f*cking up in the most spectacular way? The end result being massive damage to the banks they work for and economies throughout the world.

The fact that they did this to most major western economies pretty much underlines that, although our own politicians are easily bought and don't do enough, they are clearly not the main culprits.

mbga9pgf

Did the bankers choose to deregulate glass-stegal? Do some research. Look when GS was introduced and when it was repealed. No coincidence imho.

PasturesNew

It's not hard to explain, even in txt spk it's possible: WER FUKD

WardwarkOwner

mbga9pgf wrote: »

Did the bankers choose to deregulate glass-stegal? Do some research. Look when GS was introduced and when it was repealed. No coincidence imho.

I'll bet they lobbied for it.
I take it you have no answer to the questions I asked?

Do you work for a bank by any chance? No wonder you're defensive.

StevieJ

ermine wrote: »

And we, the proletariat who vote in politicians that whisper to us that we can have it all because we're worth it had absolutely nothing to do with the debt binge at all? So we didn't borrow money that we counldn't pay back, and take out interest only mortgages with no intent to pay down the principal, just so we could get a bigger house?

.

Less of the WE please

chucky

mbga9pgf wrote: »

Utter b0llox. The governments responsibility was to regulate. Tony Blair/Gordon Brown's w@nk fantasy was a deregulated bank system

apologies for correcting you but financial deregulation was part of the Tory dream starting with Mrs Thatcher deregulating banks and financial services with the 'Big Bang' in 1986, it was a cause of the collapse of Barings and then John Major continued the policy to which Blair and then Brown subsequently continued in the same direction...