Saturday, Feb 14, 2009
Get ready for the Alastair Darling Bad Bank
Telegrath: Alistair Darling in row over Lloyds losses
Darling asks LTSB to get their nit comb out and go through the HBOS basket case to identify 'their bad assets so they could be removed from the system'.
Posted by enuii @ 02:27 PM (760 views) Add Comment
9 Comments
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1. stillthinking said...
Lloyds shareholders volunteer their remaining capital, and now face losing all upon nationalisation. They have a stronger case than NR shareholders, although the share price does look as though it was collapsing on it's own anyway.
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/shares/3/87114/twelve_month.stm
2. shining wit said...
In my opinion it is becoming inreasingly obvious that:
1. The government are simply not up to the job of preventing a systematic collapse of the UK banking system.
or
2. They are running the shares down so they need to pay less compensation when they nationalised the banks they knew months ago they needed to.
or
3. Putting a former International marxist party supporter in charge of the Treasury was a ridiculously bad idea.
or
4. The former chancellors 'light touch' regulation simply allowed the collapse of the banking system through very bad risk taking
or
5. Allowing the BOE and the MPC to set interest rates was a disastor allowing for easy credit and a vast property price bubble.
or
6. Making former bankers responsible for policing the banks was an accident waiting to happen, especially know the banks they managed have collapsed.
or
7. All of the above ?
Q. What's becoming the most undesirable place in Britain to be right now.
A. Sarah Brown's shoes. The poor girl ! Soo she'll have gone from becoming the PM's wife to being with the most hated man in Britain.
3. shining wit said...
4. Crunchy said...
Darling asks LTSB to get their nit comb.
crunchy-Nit comb? More like afro comb.
5. hpwatcher said...
It is very clear to me that Gordon Brown is well on the way to becoming a figure of national contempt.
His epitath will be ''No more boom and bust''; in short, a disaster of a man who will be remembered like the titanic.
6. iguana said...
I find it a childishly charming idea that HBOS did not know how much they were deeply in the sh1t. Are we to assume that upon a whim the board jointly said "lets sell out to HMG or LloydsTSB or sumfink, after all we are a big bank wiv lots of dosh, they will all want to buy us". It is equally unlikely that the buyers, prodded along from behind by HMG were not aware of how much debt they were to be exposed to, the 'due dilligence' had been done before HBOS held its hands up.
Who is kidding who?
7. inflation is eating my savings said...
September was a different time.
8. Dan said...
Two and a half years ago, this incompetent buffoon felt that there was too much regulation!!!!!
“Last year we set out radical proposals for changing the way we regulate: minimising the administrative burdens of regulation; and ensuring that the realities of regulation, as you experience them on the ground, are transformed -- by moving away from the 'old' blanket approach, of 100 per cent form-filling and 100 per cent inspection that is inefficient and wasteful of your time, to a new approach based on RISK…
And I believe, too, we should consider how we can continue to extend our RISK-based approach, applying the concept of RISK not just to the enforcement of regulation, but also to the design and indeed to the DECISION ON WHETHER TO REGULATE AT ALL… ”
Gordon Brown
Speech to the CBI, 5 June 2006
9. Dan said...
“I want us to do even more to encourage the risk takers”
Gordon Brown
Mansion House speech, 17 June 2004