Tuesday, Mar 17, 2009
Too Little Too Late - Go Now!
SKY: PM On Banking: 'I Should Have Been Tougher'
"Gordon Brown has conceded that tougher action to curb the financial markets should have been taken 10 years ago when he was still Chancellor". Wow!
Posted by alan @ 09:58 AM (666 views) Add Comment
8 Comments
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1. paul said...
Keep watching ... I suspect this is the veiled apology and the only atonement is to make the FSA income multiple proposals reality. The cat is out of the bag on this one - once the solution is acknowledged it is very difficult to pretend that the solution is no longer valid.
2. str 2007 said...
Gb could have put more pressure on the rest of the world.
'mmmm didn't do much in his own country to curb reckless lending though, did he.
3. Daniel said...
“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
4. Daniel said...
“I want us to do even more to encourage the risk takers”
Gordon Brown
Mansion House speech, 17 June 2004)
"No More Boom and Bust" Gordon Brown
"I will not let House Prices get out of control" Gordon Brown
5. mark wadsworth said...
It looks as if Call Me Dave's half-4rsed apology of last week has finally stampeded The Goblin King into action, maybe he's finally realised the quickest way out of this mess is to get house prices down as fast as possible (short of replacing as many taxes as possible with Land Value Tax and/or liberalising planning laws).
6. Daniel said...
“Our system of principles- and risk-based regulation provides our financial services with a huge competitive advantage and is regarded as the best in the world… when others argue that it is the UK which is making the mistake by allowing an excessively light touch in our regulation - or specifically criticise the regulation of the AIM market – I also disagree… To revert to more heavy-handed, detailed or mechanistic regulation which put process before substance would divert us from proper risk- assessment and stifle innovation.
We do not intend to fall into that trap........."
Gordon Brown
Speech to the City of London Corporation, 25 October 2006
LIES LIES AND MORE LIES...................
7. japanese uncle said...
Nothing to say, but should like to repost the following:
-------------------------------------------------------------------------------
Property boom and bust, nay the whole economic cycle is more or less staged by those who are in control of every economic and political (and military) parameter. How can you expect the BoE to behave in the interest of the public, while it is not owned by the taxpayers of this country, but by a few powerful international financiers who also run the FRB. And there is always 'incompetence defense' available for those bosses for every disaster. This is the conclusion after my having observed the economic, political and geopolitical developments associated with the demeanor of the big financial players including central banks for the last couple of decades. The so called experts smugly talk about the global inflation as triggered by the oil price hike almost like a natural phenomenon. Give it a break! Oil price is one parameter that can be most closely manipulated by a handful of financial tycoons who also control the Majors, (which is exactly why they are called the "Majors") . Artificial Inflation and subsequent interest rate rise to bust the economic (and property) bubble, in which those who can afford to play the game, whether corporate or individual can make stinking profit, all at the cost of those lamb to the slaughter.
One interesting thing though, is the latest Guardian/ICM poll revealing that only 20% of the public believe what the Bliar Government says about the recent yet again terror threat across the Atlantic (Just remember those six poor North-Africans arrested in the ricin terror hullabaloo in 2003 were all released without charge!). People may not be that stupid as they appear, after all.
Wednesday, August 23, 2006 08:20:50 AM
Crash G seems stupid enough not to have ousted Silky Teflon in time, before his (or his real master's) 'mother of all boom-and-busts' economic non-policy reveals its full effect. He will be remembered only as Crash Gordon (may I humbly claim my credit as godfather?), who unknowingly (yes, he knows nothing, sadly. Had he known any little about economics, he could not possibly have been complacent without rushing to oust the Silky at much earlier date, with the deadline of his bogus policy quickly approaching) unleashed the biggest economic bubble since the dawn of history. Bad timing indeed.
Tuesday, April 8, 2008 06:58PM
8. crunchy said...
3. mark wadsworth said...It looks as if Call Me Dave's half-4rsed apology of last week has finally stampeded The Goblin King into action.
crunchy-One of the smartest "Call Me Dave" moves yet. A real gem!