Tuesday, Feb 10, 2009
Yep! Crash knows what he's doing !
The Independent: James Crosby: For the opening bat of consumer lending, it's a privilege to prop up the economy
Article re: - James Crosby - Published 3 days after the disastrous Interest Rate reduction in August 2005. "Everyone looks to HBOS as a bellwether of the health of the UK financial sector. It is by far the country's biggest housing lender" - "For good measure, a PricewaterhouseCoopers survey found that HBOS paid more tax to the Treasury than any other UK plc, bar BP. Giants like BT paid a third of HBOS" - "The only deal he would be tempted by in the UK would be to merge with one of the big four, and the competition authorities would not allow that." - Crosby states "As bankers, when we lend money it's rather important for us to get it back,". In 2006 this he was Knighted, on the Labour government's recommendation, by the Queens. Then Crash Gordon made him Deputy of the FSA later in 2006.
10 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Dellboy said...
I love this line:
"We're a diversified financial conglomerate, not a bank," Crosby argues ...
"Bank Bailouts" or "Diversified Financial Conglomerate Bailouts" - either way it is tragic.
2. voiceofreason said...
Well, looks like the fox was well and truly looking after the hens here.
Crosby --- fires the whistleblower --- then runs the regulators.
Oops !
then Danny Gabay from Fathom Consulting was on Five Live this AM going on about the new alternative to the MPC, the MCF ? And how we need to start printing money now.
In other words, we need to bail out the irresponsible debtors with the prudent saver's cash.
Plonker !
3. shining wit said...
This whole sorry mess needs investigating completely. I suggest nothing less than a full public inquiry.
If Gordon Brown was not complicit in the actual ruining of the banking system then he must be, by virtue of his almost sole responsibilty as chancellor, for designing the FSA, making the major appointments to the body, and then allowing his own, monopoly rules to be disregarded in order to save HBOS, when he had appointed James Crosby to be the deputy chairman, when this same man had personally sacked the man in charge of risk assesment at HBOS, beggers belief, and makes Crash a complete and utter fool.
PM's questions should be lively tommorrow, unless Crash doesn't turn up of course.
4. tyrellcorporation said...
This really is turning out to be an epic scandal but where are the press and where is the opposition???
5. Morpheus said...
Arrest gordon brown for treason !
6. paul said...
Wow this is dynamite.
For good measure, a PricewaterhouseCoopers survey found that HBOS paid more tax to the Treasury than any other UK plc, bar BP. Giants like BT paid a third of HBOS's bill.
Aha. So this is what Cynicus Economicus was talking about when he wrote about the finance merry-go-round! The banks are funding the government and the government is funding the banks! This explains why Brown is so complicit!
(this is an illustration of a WOW moment)
We have the source of the rot! Brown's promoted Crosby to keep HBOS afloat to channel taxpayer money into government coffers via taxation on any retail/investment profits! This is why they WON'T separate out the retail and investment sides of the banks (I know HBOS is only retail) - because the former is making money for government coffers and letting the latter collapse would remove their funding. Crosby has agreed to this comfy little arrangement, Brown has 'fixed' it by ordering a mandatory merger (running roughshod over competition laws) and then promoted Crosby to be deputy at the FSA.
Stop the press! Expose the rot!
7. shining wit said...
tyrellcorporation @ 3...
"but where are the press and where is the opposition" - Well the opposition had their clothes stolen by the new emporers, and the press, per-lease!
The BTL market, was pretty much exclusively, made up of the 'professional' classes. Every little piggy as had their snouts in the trough. They have all, to put it simply, been caught out because they thought they could get out in time.
Mostly, they didn't -.....Who do you think is going to go bust first - Kirsty, Phil, Gary McCausland, I see Antony Barrel Thompson is still blaming the banks. I'm praying it's Gordon Ramsay myself. All four would be too much to ask for but you never know.
8. troy said...
"Welcome to the Apocalypse and Unveiling of the Truth."
"Friends, Skeptics and Nimrods… lend me your ears. I come to exhume the truth not to bury it. The lies that men tell are the flesh of their mortality… the truth is a fire in their bones. Sooner or later the day comes. Sooner or later critical mass is reached. The pressure of what is hidden becomes stronger than what conceals it. Then comes the mad scramble of the lie makers who are revealed in their efforts by the industry of their madness. Cracks appear in the casing and the whole ugly affair bursts forth like a new born child, smacked on the ass and crying for the attention of the world."
Les Visible http://smokingmirrors.blogspot.com/2009/02/wel-come-to-apocalypse-and-unveling-of.html
regarding the press, from comments section :-
hi les, everyone,
half of me wants to believe, that the unravelling of lies is is our hope for the future. i fear however, that it is just another planned event.
lets remember, the same people still control the media outlets. i'm getting an alarming number of news stories flashing my way from "the daily mail" (an insidious nationalistic tory uk rag) no less. and lets be realistic, if the PTB wanted to make it impossible for us to seek the truth, i'm sure they could.
i think the questions we should be asking ourselves is........why are we being drip fed an alternate version of "reality" now?
and why is it getting into the mainstream?
jeff
9. bluebeach said...
SW@2
"This whole sorry mess needs investigating completely. I suggest nothing less than a full public inquiry."
It certainly does, little mention of it in the mainstream..... We need full investigation no less. This man is seen as the leading light in finding a way out of this DEPRESSION.....the DEPRESSSION that he and his other snouts created....
BRING ON A FULL INDEPENDANT INQUIRY...NOW......before he really stuffs us all..... "fox looking after the hens"...how true VOR@1
10. Andrew said...
This is interesting about James Crosby, take your pick
http://en.wikipedia.org/wiki/James_Crosby