Hard to explain how bad economic crisis is, says Cable

ILW

Just waiting for your suggestion of a solution, as opposed to just ranting.

[Deleted User]

ILW wrote: »

Just waiting for your suggestion of a solution, as opposed to just ranting.

I'm asking a set of very simple questions. It seems you have no answers or anything to contribute. Again.

justjohn

Crisis is due to greed, capitalism and the distribution of wealth. And the protection of the wealthy. Bank should not have been bailed out they should have been taken over. Our economy is up the creek not just because of the banks or a certain political party.

This is the long term effect of the wealthy gaining a larger share of the pie / market and keeping it.

There are many countries in our position and you cannot blame labour for that.

The economy no longer has enough players, banks have merged and many other companies are far too large for there own good or the countries good. We would be able to ride out this recession allot better if the business's and banks were more fragmented.

well thats my tuppence worth lol

Loughton_Monkey

"Britain is no longer one of the world's price setters."
"We are actually a poorer country."
"Britain was operating a model that failed..."

Vincie is my favourite nominee for the Nobel Prize for 'saying the bleeding obvious 5 years after everyone else'.

This was all true far, far before the so-called 'banking crisis'.

ermine

saying the bleeding obvious 5 years after everyone else

He's still a few years ahead of the lumpenproletariat getting the message though, so maybe he has his purpose

ermine

Bank should not have been bailed out they should have been taken over

I thought some of them were? According to this the UK Government has an 83% share in RBS, that's a controlling share. The remarkable thing in that is that we aren't a zillion miles away from breaking even. I favour the handing them to taxpayers idea - I'd probably sit on mine for a bit if that happened

ILW

I believe that giving all taxpayers some actual shares in the bailed out banks would solve many of the political problems.

[Deleted User]

ILW wrote: »

I believe that giving all taxpayers some actual shares in the bailed out banks would solve many of the political problems.

So in your view getting a tiny percentage of some mismanaged banks with greedy but incompetent staff is fair compensation for a major recession, 2.5 million unemployed, and an economy so fragile a double dip is a possibility despite record low interest rates.

You should apply for a job at one of them, if you aren't already in one.

ILW

The banks were one of the major sources of growth before the recession.
They were producing massive amounts of tax revenue.
The reason for most of the cuts was overspending by the government.
The banks were not perfect but are only partly to blame for the current situation.
And yes I would like some shares and I believe that many would become mini capitalists if they had them.

Loughton_Monkey

ILW wrote: »

I believe that giving all taxpayers some actual shares in the bailed out banks would solve many of the political problems.

A nice and sentimental thought, but neither practical or necessary.

The Government didn't [technically] bail out the banks. The tax payer did. Every single one of us. All we have to do is wait for repayment of that loan, and automatically the tax payers - every single one of us - benefits.

We didn't waste £hundreds of millions issuing every taxpayer with an "IOU" so when it is solvent and can repay, why spend another £hundreds of millions issuing shares to every single tax payer?