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Togo Joe

Lord Turner, Chairman Fsa

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Lord Turner, Chairman of the FSA, has come up with the idea that Banks must be forced to build up a capital buffer in good times so they can run it down in bad times.

You know things are bad when the best the Chairman of the FSA can come up with is "saving for a rainy day".

You know things are bad when no-one asks "Why can't the government also do this ?"

You know things are bad when they want you to spend and not save and they want the banks to lend and save.

You know things are bad when the top regulator doesn't understand how banks work.

We have some serious idiots in charge of the madhouse.

Why is Gordon Brown "angry" at the Banks when he behaved in exactly the same way ? Did he ever put anything away for a rainy day ?

So let's get this straight. The government can fritter money away. You can spend like no tomorrow. And I'm to blame and should be forced to save. Now I get it.

Thanks.

TJ

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Lord Turner, Chairman of the FSA, has come up with the idea that Banks must be forced to build up a capital buffer in good times so they can run it down in bad times.

As these are "bad times", I suspect this is just to excuse the current softening in capital adequacy requirements. By the "good times", it may have been forgotton. In any event, it will have little impact on the present events.

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There are no counter-cyclical government economic policies, this guarantees boom and bust.

HPC'rs have resorted to personal counter-cyclical economic policies, i.e. selling up during the boom and saving cash.

Shame that few people built up reserves during the good times. That's human nature and you cant legislate it away.

VMR.

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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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