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Fsa Cheif Says "there Must Be Profound Changes In The

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He said banks should now be required to build up "substantial capital buffers in good economic times... so that they can run them down in bad".

Unlike Governments?

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Words fail me.

Their non-actions fail us.

Bearfacts, profound changes indeed.

Create a problem and then guarantee employment for another decade pretending to fix it.

Edited by OnlyMe

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He said banks should now be required to build up "substantial capital buffers in good economic times... so that they can run them down in bad".

Unlike Governments?

It won't happen. In the good times, memory of the bad times fade and people will think that they can't leave all that money siting there doing nothing. So the politicians will be greased, regulations slackened or blind eyes turned, and we go again.. People do not learn.

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The fundamental change necessary is to remove the power to expand the money supply from commercial profit motivated banks.

This is the principal banking function that should be nationalised.

It must be decoupled from the function of allocating/deploying/investing money, which should, as far as possible, be in the private sector.

At present we have these two functions exactly the wrong way around.

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watch what they do, not what they say...

No, you need to read between the lines.

"Banks need to build up their capital in the good times."

We aren't in the good times so there is no need to build their capital.

QED

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It is the perfect time to introduce legal maximum lending rules for individual mortgages. With expected deposits at roughly 25% on average - a new rule to put into place a minimum deposit of 10% would be easy to do and not cause any great trouble. A maximum limit of a certified max of 3.5 times salary could also be introduced.

If lending does 'improve' , as we are brainwashed to think, then there is still a lot of leeway until this new limit is met. Everyone is a winner. Well except for Broon.

It is the PERFECT time for rules like these to be put in place. They are in place already unofficially. Make the new rules LESS HARSH than existing real life 'rules' currently imposed by the Banks - and it would make complete sense, even to the General Public.

Hence it probably won't happen. :(

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We don't need rules, just some justice. If these b*****ers had been taken out side, beaten to a pulp, had all their families assets taken away, then sent to prison untill they paid all this back. Well you wouldn't see this happening again.

Unfortunately it's us who have been punished! <_<

accountability! FFS!

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We don't need rules, just some justice. If these b*****ers had been taken out side, beaten to a pulp, had all their families assets taken away, then sent to prison untill they paid all this back. Well you wouldn't see this happening again.

When the interviwer suggested that maybe the bankers should be 'punished' for what they had done the noble lord could not talk fast enough- apparantly the 30's Depression was not caused by the people who made all the money- it was actualy caused by minor officials in the reglatory structure ( that's what this sack of shite claimed this morning)

Every single one of these vi ***** is corrupt.

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It is the perfect time to introduce legal maximum lending rules for individual mortgages. With expected deposits at roughly 25% on average - a new rule to put into place a minimum deposit of 10% would be easy to do and not cause any great trouble. A maximum limit of a certified max of 3.5 times salary could also be introduced.

If lending does 'improve' , as we are brainwashed to think, then there is still a lot of leeway until this new limit is met. Everyone is a winner. Well except for Broon.

It is the PERFECT time for rules like these to be put in place. They are in place already unofficially. Make the new rules LESS HARSH than existing real life 'rules' currently imposed by the Banks - and it would make complete sense, even to the General Public.

Hence it probably won't happen. :(

5 million self employed have no salary.....how would your scheme accomodate them?

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5 million self employed have no salary.....how would your scheme accomodate them?

Stop being pedantic - you know what I mean !!

For self employed there could be similar tighter rules in place. A certain number of years of full accounts, details of salary paid for same period etc..not far from what they do just now I imagine.

I am self employed myself so I appreciate how fickle it can be.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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