More bank regulation?

Thrugelmir

TruckerT wrote: »

I think there is a contradiction there (somewhere) - the influential voice right now is the voice of the banks

And the largest bank in the world is 84% nationalised............

TruckerT

Thrugelmir wrote: »

And the largest bank in the world is 84% nationalised............

....and 93% of statistics are made up on the spot! Which bank, which nation, what does 'largest' mean?

TruckerT

pqrdef

TruckerT wrote: »

....and 93% of statistics are made up on the spot! Which bank, which nation, what does 'largest' mean?

It's bad luck to speak its name, but we can just mention it as "the Scottish bank".

TruckerT

pqrdef wrote: »

It's bad luck to speak its name, but we can just mention it as "the Scottish bank".

Is there a big trade union presence?

TruckerT

hallmark

TruckerT wrote: »

Most people are not enormously rich, and neither do they tell governments what they need to do

TruckerT

And the same applies to most bankers.

hallmark

pqrdef wrote: »

In the Freddie Mac/Fannie Mae lawsuit against the banks, including some British banks, it's alleged that those involved in the subprime racket were aware of the potentially calamitous consequences of what they were up to, but carried on regardless. Is that what you want to defend?

No, and I'm sure that banking has it's fair share of scumbags. Am just saying that the constant vilification of bankers by MPs is hypocritical in the extreme. They're simply siezing on a soft target because any lazy Question Time MP or Union rep knows they only have to start slagging "greeeeedy bankers" to get a few claps from the audience (not much else any of them say get's applause).

Many members of the public who slag bankers were only too delighted to take advantage of precisely the cheap loans & mortgages that led to the credit crunch.

pqrdef

hallmark wrote: »

Am just saying that the constant vilification of bankers by MPs is hypocritical in the extreme.

That's politics. Get it wrong and you set yourself up to be always good for a cheap shot.

The bankers didn't cause the depression - that was caused by the emergence of China and America's mismanagement of its industrial decline. The bankers merely saw the opportunity presented by circumstances and set out to milk it, with a complete lack of any sense of social responsibility.

hallmark wrote: »

Many members of the public who slag bankers were only too delighted to take advantage of precisely the cheap loans & mortgages that led to the credit crunch.

Of course. But it's not their job to be financial experts. It's the bankers who get paid to run the business.

TruckerT

hallmark wrote: »

Many members of the public who slag bankers were only too delighted to take advantage of precisely the cheap loans & mortgages that led to the credit crunch.

If somebody stops you in the street and hands you a wad of money, what do you do?

If you have any sense, you walk on by, and possibly call the emergency services

But what if he or she wears a suit, and wears a badge from your trusted High Street Bank?

We trusted them, and, in return, they milk us dry

TruckerT

hallmark

TruckerT wrote: »

If somebody stops you in the street and hands you a wad of money, what do you do?

If you have any sense, you walk on by, and possibly call the emergency services

But what if he or she wears a suit, and wears a badge from your trusted High Street Bank?

We trusted them, and, in return, they milk us dry

TruckerT

I'm not sure that analogy bears much resemblence to the truth which was people lying left right & centre on self-cert mortgages.

Yes the banks let them but that doesn't make it "all the banks fault" which is what lots of people like to claim. If I kick you in the face & you let me that doesn't make it your fault.

TruckerT

hallmark wrote: »

I'm not sure that analogy bears much resemblence to the truth which was people lying left right & centre on self-cert mortgages.

Yes the banks let them but that doesn't make it "all the banks fault" which is what lots of people like to claim. If I kick you in the face & you let me that doesn't make it your fault.

This is going to become a very garbled 'mixed metaphor'!

If you were kicking me in the face, and your foot started to hurt, then you would probably realise that it was time to stop

The banks were actually kicking themselves in the face, but still they carried on

TruckerT