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Everything posted by Tummybanana

  1. Zeitgest Jonny, that's me. I'm not talking about a centralised bank; I'm talking about locally sourced funding from deposits. Somewhere like Rutland would, of course, be screwed, because it only has a catchment of 94,000 adults, but then businesses to work locally would have smaller ambitions. Where this system wouldn't work, of course, would be for larger businesses who want to work outside of their constituency, so this would have to be a system of fledgling loans. Basically, instead of sticking it all under a big volcano, and letting Kaupthing work out where to invest (usually pwoperdy), the Councils invest locally in making their areas and constituents profitable. Banks have proven that they're not competent to make those decisions. Unless you put a clause on any bonuses, which says that executives and ex-executives will receive bonuses ten years in arrears, based on the performance of the company at that time, you'll get your Adam Applegarths and Fred Goodwins, and that American guy Tom Fulp, was it? who sign up, cut a few dodgy deals and leg it from the company before the wheels fall off with a sweet pension. What about - and I'm at the risk of summoning Injin here - other services such as Health, Police and Education? Should they be fully privatised, too?
  2. No. But at least they'd be locally accountable by election, unlike the private sector shower we have at the moment. I can't think of a single bank I'd trust at the moment not to try and cover their butts. Plus, we don't have to pay for all the conversant Threadneedle St architecture, advertising campaigns, sponsorships, and everything else.
  3. Can anyone tell me what the point is in banks anymore? The Dailymash summed it up nicely; we, the taxpayer, are going to give banks money, and in return, they'll lend it back to us at a higher rate of interest. I know that Gordy was sabre-rattling last week and saying that if banks didn't pull their fingers out he'd let councils loan out their funds instead, and I thought - well, why the hell not? Councils will have some knowledge of their local area, they'll know local individuals, they'll know their markets, they can work with local chambers of commerce to decide whether business loans are viable or not, and be able to look at long term prospects for the area rather than someone borrowing money to screw the area and run. Seriously, as far as I can see, Banks are just a private sector administrative process now, whose "investment expertise" argument has been Belgranoed - we shot them just as they were planning to cut their losses and run. Please, anti-socialist ideology aside, can someone give me a reason why we shouldn't just cut out the simonists and as taxpayers lend directly to strong business models and to individuals with good credit ratings?
  4. Who'd win in a straight fight between Clarke and Mandelson? Or, less facetiously, do we think that Clarke - who iirc deregulated the Banking Industry, is Pro-EU, lost in the first round for party leader, and advocated a cut in VAT. . Is a worthy opponent for Mandy: Used to have a moustache, Dubious mortgage practices, On the EU gravy train, deals with Russian Oligarchs, fast-tracked passports? And is Osborne's job safe?
  5. Hmm, 2004: Net recipients of 1.6 billion Euros - 2007: Net recipients of 0.6 billion Euros. Now, call me a cynic who's been burned by badly tarmaced drives, but it looks to me as if the TeaSock has gone: "Begorrah! Next time we'll actually have to contribute to this EU thing! They'll never get our lucky charms!" and Riverdanced away to the strains of Clannad. Or something else not quite so offensive.
  6. How the hell are you defining "Very comfortable?" four geisha girls on tap?
  7. Maybe you'll get lucky and get involved in a hideous car crash, requiring a 3 week stay in intensive care, 6 month's rehabilitation, extensive home care support, home adaptations and a life on DLA. Of course, I say "lucky". . .
  8. Children? Rolling in it? BWAHAHAHAHAHAHAHAHAHAHAHAHAAAA!! Not saying that the tax credit system doesn't pad the blow somewhat, but I'm still . . . BWAHAHAHAHAHAHAHAHAHAHAHAHAAAA!!
  9. I'd love it if Gordon was all "Right, declare your bad investments and toxic debts and I'll back 'em with taxpayers money" then the banks were all "Yeah, we invested in the Palestinian driedel industry, can we have money now." and Gordon was all "FINGERS CROSSED!"
  10. I know it's been touched on, but it's the guy's lack of suitability to drive that gets me. He has a heart attack because he has to get money out of a hole in the wall? What do you think he'll do if he gets cut up by a Saxo in the middle lane of the M4? Er, or would have done, anyway.
  11. 350K house? I imagine that people who can't afford the mortgage on their 750K houses and don't want to rent need to live somewhere.
  12. They're probably in the Banking or Oil Sector, so expect that to drop rapidly.
  13. Ah, yes, the morally repressive days of 2000, when men and women new their place and a gentleman could have a moustache without being considered a sodomite. 3 + 1 is what we took out with Abbey, then HSBC back then.
  14. He forgot the first rule, he moved too soon [instead of staying put or STRing in this market], the second rule. . . if you are going to bluff [About your exposure to liquidity issues] you must be prepared to have your bluff called, and the third rule . . . DUCK! *Twins, if anyone's counting.
  15. http://news.bbc.co.uk/1/hi/business/7831889.stm Proverbs 26:11 springs to mind: "As a dog returneth to his vomit, so a fool returneth to his folly."
  16. Aren't most of the CPI items food, and thus VAT exempt? I reckon it would have worked to give businesses a bit more time IF there hadn't been this insistence on passing the cuts onto the consumer. People are mocking it now (although to a 40K+ retailer it would have made a difference on their take), but wait until next year and see just how much they* squeal. *All right, WE.
  17. Slightly off-target, but not really: There was a guy on R4 this morning who's bought a tract of land the size of Dubai in Southern Sudan from a local Warlord Tribal Leader, with protection from the Sudanese Army. Currently it's being used by local farmers with no paper claim to the land, who farm just enough to supply people of the village. This VC is planning on using the land as a vast agri-business, selling the crops at commercial rate. Do we think there'll be enough to supply local villages afterwards, and that he'll do it at a vastly discounted rate? Or will there just be another trail of bodies to clear up?
  18. On Today this morning, almost as a throwaway piece, one of the Labour policy wonks was talking about looking at implementing Free Childcare within the next five years. On a joint income of around 30K, according to entitledto.org, a couple with two children gets £185 pw to cover childcare costs of £250. Childcare vouchers provide another £60 a week tax rebate, and 12.5 hours is free for over three year olds, so it wouldn't be too costly to implement at that level, certainly. Whether this would only be available for working parents is still up for discussion - I'm guessing that the 12.5 hours would still remain in order for parents to find part-time work.
  19. Right! I'm DEFINITELY not selling him my house now!
  20. Because cutting frontline services never backfires. http://news.bbc.co.uk/1/hi/england/south_y...ire/7826285.stm At the meeting, the Mayor tried to put the blame onto the Social Workers, but the council rightly said that it was BECAUSE of cutbacks that the team were overworked, underfunded, and unsupported.
  21. For some reason, this guy springs to mind when I think of that.
  22. See, this wouldn't have happened if they'd bought outright. Leasing is dead money.
  23. And hey, if it makes them happy - more power to them *Black Panther Fist*. It's when some people in those circumstances start whinging about being in poverty that I get annoyed. In times of plenty, prepare for Want, and all that. The parable of the Grasshopper and the Ants springs to mind, and not the nice Disney one, where the grasshopper gets let into the ants nest on condition that he plays his fiddle to entertain them during the winter.
  24. That's a point - do you reckon he's claiming less expenses on mortgage interest for his second house as a result? £21,293 in 2005/06, what does that work out at in value on an SVR of 5%?
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