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Everything posted by fluke

  1. My complaint to OFCOM http://www.ofcom.org.uk/ is the address for your complaints Programme title: Location, Location, Location: A Survivors guide Date(s) of broadcast: 17/11/2008 Time(s) of broadcast: 9pm Channel / station: Channel4 Subject: Misleading Financial Advice Description: This shameless programme, which has encouraged so many into Negative Equity is still distorting the public perception of housing. Misleading figures were given on prices, giving an uninformed viewer the impression that they have fallen by 1%, when in fact falls are already over 15%. Channel4 should be ashamed to be associated with such ludicrous financial deception, and Ofcom should reprimand them for deceiving the public.
  2. I can understand people investing in Icelandic banks, but what I can't understand is why the Isle of Man subsidiary or the Channel Island ones? Was that for some tax evasion reason, or was there some genuine reason why people would have money in those places?
  3. Sorry to read that, I think mine will be gone in the next month too
  4. I think it is prudent for them to be rescued *BEFORE* they become insolvent... shareholders made the mistake of investing in badly managed banks, now they pay the price unfortunately.
  5. Hornby will resign too, after the merger complete I think.
  6. How can you say, Iceland had a plan to rescue Kaupthing that would have worked AND Iceland is broke in the same message. They were broke, their rescue plan could not have worked.
  7. Councils inevitably have large sums of money in bank accounts: 1) Pensions funds 2) Operational funds (ie, the difference in timing between collecting money and spending it) Kent have a 2.6 billion budget, so as a %age 50 million is a small exposure for them.
  8. Most likely their company will go under, but they will have paid themselves a few million quid that can't be touched, so will still be able to run a few nags.
  9. All this talk of toast is making me hungry. Off to the toaster.
  10. Politicians and Business people think they understand the implications of their decisions, but they do not. The complex interactions of society and finance are beyond any individual comprehension. Thus they continually make the same mistakes because the consequences take so many years to come about. When a crisis arises many people attempt to take advantage of it, extreme theories and politics become more popular.
  11. There really should be a crime of reckless mismanagement. It seems reasonable that if a major public company goes under, the board should receive public punishment, including jail time and appropriation of assets. After all, causing mass redundancies and knock on business failures is by far the most negative thing that an individual can do to damage his own society. A thief just messes up the lives of tens of people, or hundreds at the most, a CEO can take down thousands, and the former certainly goes to jail, so should the latter.
  12. Worth noting that the reason the Irish Government have done this, is because one of their largest banks was about to go bust. This promise has probably saved it through the inflow of extra cash, for the time being... http://business.timesonline.co.uk/tol/busi...icle4863865.ece
  13. QUOTE (Durch @ Sep 30 2008, 05:59 PM) What is it about hard times that makes people shave their hair into Mohicans and sit revving motorbike engines loudly as they grin showing their discoloured and smashed teeth? Sounds like there will always be work for motorbike mechanics and hair dressers! And chemists to supply the hair dye, and drivers to transport the bike parts, and the hair dye! And my god, to be a dentist in such a place, you would be a KING! So, now we have a KING, dentists, drivers, mechanics, chemists and hair dressers. Pretty much half way to a fully functioning society already... Just after the first world war millions of people died and society carried on, I suspect that a few fat bankers getting their sums wrong may cause a bit of mayhem, but most people will struggle through. Keep your stiff upper lip chaps!
  14. A vehement opponent of the bail out for sure! She is however also against free trade according to Wikipedia.
  15. From the times: http://business.timesonline.co.uk/tol/busi...icle4842838.ece B&B carved out a niche in lending to buy-to-let landlords and to borrowers who could not, or would not, provide evidence of their earnings. These self-certified mortgages, dubbed “liar loans”, are going bad in much higher numbers than ordinary mortgages.
  16. Some good graphs on there, this one is to do with US bank reserves:
  17. From the times: http://timesbusiness.typepad.com/money_web...08/09/post.html Now it is ramping price drops
  18. The UK housing market is going down without any shorting. Shorting just rides on the back of normal sellers and buyers.
  19. Can't get excited about short selling. If you like a company then buy it, if not then sell it or don't buy it to start with. Shares will still go up and down quite happily. Selling stuff you don't own is so open to manipulation, especially given all the herd like nature of speculators.
  20. Alot of this is shorts squeezed until they squeek, so a bit of a one off fun.
  21. One hell of a lot of people who like short selling are getting smashed this morning......
  22. I expect the deal would be on the Northern Rock basis, before Lloyds pulled out, it wanted govt guarantee to cover losses, assume same would apply here.
  23. I like the map for comments, that's fantastic.
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