Friday, May 01, 2009
BBC and Treasury Committee point out the obvious.
BBC News: Bankers made 'astonishing mess'
Hmmm, long after many on the forums here knew where fractional reserve lending was going to get us the Treasury Committee makes the same conclusion. The only difference being people on here aren't paid out of my taxes to note the inevitable risk that comes with handling financial products that are not understood or asking for a bonus for the same conclusions.
Next on the treasury committee's list "Do bears defecate in the woods?"
Posted by symo @ 08:46 AM (452 views) Add Comment
5 Comments
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1. will said...
We all know the Bankers made a mess, but what exactly are the Treasury Select Commitee going to do about it. We want action not just acknowledgement.
2. nomad said...
The word decimate comes from the practice among Roman generals to punish poorly performing soldiers - one in ten would be eliminated. Often, this would be achieved by selecting groups of ten then choosing one by the short straw or any other method, the chosen one then being clubbed to death by his nine comrades.
Sounds good to me!
3. icarus said...
nomad - but here the selection process would be fixed.
4. general congreve said...
THEY DID WHAT? Why has no one been talking about this???
5. mander said...
Bankers done their job and very quick. In 10 years time they lent for 100 years. Capitalist world is very developed and so much money is not needed. There is no appetite for creating a better world because it must be technologically advanced and it is too complex for bankers.
Banks should have been nationalised and the money start to be driven where there is potential development and where it makes economic sense by the wisest people of a country (not the politicians)
The sooner we will admit that property was the worst place to have put our money into the better will be for everyone of us...