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Bremner, Bird And Fortune C4 7pm Tonight

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NOTE TIME

Bird and Fortune reveal how much of our current crisis was foretold.

Is it wrong to say we didn't know what lay ahead?

Sounds like this could be good. What are the odds against a mention for this site?

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Interview with banker sketch from 2006. I paraphrase:

Interviewer: People owe £1bn and you keep on lending. You lend money to anyone and everyone. This can't go on, people won't be able to pay it back and you'll be insolvent.

Banker: No problem, we'll just get a bail-out from the government.

2006!

Nobody saw it coming though aye Gordon? handjob.gif

Edited by mikthe20

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major problem is Bremner's diagnosis of an unregulated financial sector, which is complete rubbish! The FSA is huge, over 1000 employee's and finance is the most regulated industry in the UK - that was exactly the problem, they did all this at the command of Brown and the BOE

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major problem is Bremner's diagnosis of an unregulated financial sector, which is complete rubbish! The FSA is huge, over 1000 employee's and finance is the most regulated industry in the UK - that was exactly the problem, they did all this at the command of Brown and the BOE

What is the 'all this'? All this lack of regulation?

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major problem is Bremner's diagnosis of an unregulated financial sector, which is complete rubbish! The FSA is huge, over 1000 employee's and finance is the most regulated industry in the UK - that was exactly the problem, they did all this at the command of Brown and the BOE

No, the problem is that the financial services industry gets a bit of deregulation, it turns it into a scheme for scamming the public en masse (Say split-cap, for instance. Or endowments. Or PPI etc. etc. etc). Then regulation has to be imposed to try and stop the scamming, hence the size of the FSA. Then they find a new scam, and more people are ripped off and the politicians have to act again.

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No, the problem is that the financial services industry gets a bit of deregulation, it turns it into a scheme for scamming the public en masse (Say split-cap, for instance. Or endowments. Or PPI etc. etc. etc). Then regulation has to be imposed to try and stop the scamming, hence the size of the FSA. Then they find a new scam, and more people are ripped off and the politicians have to act again.

I'd be happy for less regulation provided it cut both ways. So no BoE as the lender of last resort, no bailouts, no fractional reserve lending and no limited liability.

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