Hard to explain how bad economic crisis is, says Cable

StevieJ

mbga9pgf wrote: »

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.

You are correct there, who knows what would have happened if the Tories had been in power with thinking like this :eek:

• A vast range of regulations on the financial services industry should either be abolished or watered down, including money-laundering restrictions affecting banks and building societies. Mr Redwood's group also sees "no need to continue" to regulate mortgage provision, saying it is the lender, not the client, who takes the risk.

http://www.telegraph.co.uk/news/uknews/1560100/Tories-plan-14bn-cuts-to-red-tape.html

ILW

A bankers job is to make as much money for their company and themselves as possible, they were very good at it.

[Deleted User]

ILW wrote: »

A bankers job is to make as much money for their company and themselves as possible, they were very good at it.

Wrong. They made as much money for themselves as possible but the companies themselves went bust* as a result of their actions.

*or would have done if many of them were not propped up by the tax payer directly or indirectly as it was a systemic failure.

flashnazia

Yeah yeah it's all the bankers' fault.

Nothing to do with the idiots who took out loans and mortgages they couldn't afford in the long term.

[Deleted User]

flashnazia wrote: »

Yeah yeah it's all the bankers' fault.

Nothing to do with the idiots who took out loans and mortgages they couldn't afford in the long term.

Yeah, yeah, lol, your average guy on the street was trading derivatives in things he didn't fully understand the true value of.

So you think the bank's employees didn't play the largest part in the banking crisis as well do you?

Is anyone going to answer some simple questions rather than just deny or try and divert blame?

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.

StevieJ

flashnazia wrote: »

Yeah yeah it's all the bankers' fault.

Nothing to do with the idiots who took out loans and mortgages they couldn't afford in the long term.

Missed out there didn't realise the banks were handing out funds willy nilly, no wonder bank robbery incidence has gone down they just fill in a form now.

ILW

[quote=[Deleted User];43820798]Yeah, yeah, lol, your average guy on the street was trading derivatives in things he didn't fully understand the true value of.

So you think the bank's employees didn't play the largest part in the banking crisis as well do you?

Is anyone going to answer some simple questions rather than just deny or try and divert blame?

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.[/QUOTE]
What do you mean by accountable?

[Deleted User]

ILW wrote: »

What do you mean by accountable?

http://www.google.co.uk/search?client=opera&rls=en-GB&q=definition+of+accountable&sourceid=opera&ie=utf-8&oe=utf-8&channel=suggest

Why not answer one of the other questions with words you understand?

ILW

I know what it means, but in practical terms how should it relate to bankers? (Apart from name calling)

[Deleted User]

ILW wrote: »

I know what it means, but in practical terms how should it relate to bankers? (Apart from name calling)

How could that be name calling? Are you trying to just wear me down with stupid questions about a question or is English not your first language?