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Don't Tighten Banking Regulations, Pleads Lord

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Lordy Digby Jones says on a news interview that the culprits who caused the problems in the City are gone now, so don't tighten the regs because it'll stifle City prosperity and growth.

it is almost beyond belief that anyone should think the city brigade are to be trusted to run their own show after this - how many miles up the road would it be until a new bunch of wide boys takes over and does the same again? theres already signs of it actually

this country has to forget its love affair with get rich quick schemes once and for all, get some real industry, stop the city casino rebirth that idiots would allow back in the door (if they havent already)

real industries, real safeguards, better to be the agile tortoise to a future thats stable than run like the hare again, cant believe anybody with an iq above that of a pigeon would want to risk it again, or perhaps morons like that wont be happy until we're back to pouring waste out the windows and using vinaigrettes again while they lord it at their country retreats and snigger under their breath at the enslaved workforce

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Indeed, Darling proves he and the NuLab machine have learned absolutely nothing from the last two years of financial meltdown, nada, nichts, nothing.

We might think as taxpayers that we own large chunks of the banking sector, but the truth is that the banks own the government, otherwise why would our politicians be such feeble slaves to them?

Labour must go.

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let's see - regs got too loose and we got a boom, so let's clamp down a little and slap some wrists and try to get a smoother operating market in futre

h*ll no - let's over-tighten those regs, kill the market, and exacerbate the cycle! whoopie I love rollercoasters!

Goldilocks could teach you lot a few lessons about 'just right'.

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Goldilocks could teach you lot a few lessons about 'just right'.

Didn't have you down as a fan of Darling.

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Didn't have you down as a fan of Darling.

hee-hee. fair point.

actually, having read your earlier post I agree with disliking corporatism - where govt gets into bed with organisations, it's just corrupt. That goes for Darling and Brown as much as it does for, say, Ken Clarke.

However, there is a real danger with over-regulating (which I am certain is going to happen as political reactionariness, if there is such a word).

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However, there is a real danger with over-regulating (which I am certain is going to happen as political reactionariness, if there is such a word).

Not as long as the NuLab shills are in government. Rest easy for another 10 months or so.

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Not as long as the NuLab shills are in government. Rest easy for another 10 months or so.

:lol:

excellent

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It's shit - there's a massive lobbying effort underway. The public affairs scum are busy.

http://www.timesonline.co.uk/tol/comment/l...icle6564416.ece

The spivs are out in force trying to defend their dodgy business which the UK taxpayer has to bail out. where has being preminent in finnacial services benefit teh Uk economy?

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Reminds me of The Quiet Coup where govts are confusing the interests of a particular set of oligarchs with the interests of the general economy. The city does provide large tax reciepts for the govt but their negative effects on the rest of the economy more than out-weight the benefit.

Course how else is an ex-politician to make a living other than sucking up to the city with the implicit promise of a job when they get booted out? Jobs for the boys, nothing more.

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Not as long as the NuLab shills are in government. Rest easy for another 10 months or so.

Followed by a Conservative government. Normally the reaction to a massive financial crisis of this sort would be the election of a more left wing party, however in this case it's the supposedly left wing party that caused it (of course, the dress rehersal for this, the late 1980s boom, was caused by conservatives, but labour have topped them with this boom..)

We won't get proper regulation of the system till complete financial collapse, hell freezes over, the sun goes nova or the liberal Democrats get elected, whichever happens first.

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We won't get proper regulation of the system till complete financial collapse, hell freezes over, the sun goes nova or the liberal Democrats get elected, whichever happens first.

Knowing the Lib Dems chances, all on the same day then.

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Indeed, Darling proves he and the NuLab machine have learned absolutely nothing from the last two years of financial meltdown, nada, nichts, nothing.

We might think as taxpayers that we own large chunks of the banking sector, but the truth is that the banks own the government, otherwise why would our politicians be such feeble slaves to them?

Labour must go.

+1

It's shit - there's a massive lobbying effort underway. The public affairs scum are busy.

http://www.timesonline.co.uk/tol/comment/l...icle6564416.ece

they sure are

The spivs are out in force trying to defend their dodgy business which the UK taxpayer has to bail out. where has being preminent in finnacial services benefit teh Uk economy?

answers on a postcard

Reminds me of The Quiet Coup where govts are confusing the interests of a particular set of oligarchs with the interests of the general economy. The city does provide large tax reciepts for the govt but their negative effects on the rest of the economy more than out-weight the benefit.

Course how else is an ex-politician to make a living other than sucking up to the city with the implicit promise of a job when they get booted out? Jobs for the boys, nothing more.

+1

casino britain - no industry just financial gambling and button pushers - what could possibly go wrong?

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Lordy Digby Jones says...

From Wikipedia:

He now serves as Chairman of the International Business Advisory Board of HSBC and is a Corporate Ambassador for Jaguar Cars and Corporate Advisor to JCB. He is also a member of the Advisory Board of Monitise Group plc & Chairman of Neutrino Concepts Ltd.

:lol:

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From Wikipedia:

He now serves as Chairman of the International Business Advisory Board of HSBC and is a Corporate Ambassador for Jaguar Cars and Corporate Advisor to JCB. He is also a member of the Advisory Board of Monitise Group plc & Chairman of Neutrino Concepts Ltd.

:lol:

:lol::lol:

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Lordy Digby Jones says on a news interview that the culprits who caused the problems in the City are gone now, so don't tighten the regs because it'll stifle City prosperity and growth.

it is almost beyond belief that anyone should think the city brigade are to be trusted to run their own show after this - how many miles up the road would it be until a new bunch of wide boys takes over and does the same again? theres already signs of it actually

this country has to forget its love affair with get rich quick schemes once and for all, get some real industry, stop the city casino rebirth that idiots would allow back in the door (if they havent already)

real industries, real safeguards, better to be the agile tortoise to a future thats stable than run like the hare again, cant believe anybody with an iq above that of a pigeon would want to risk it again, or perhaps morons like that wont be happy until we're back to pouring waste out the windows and using vinaigrettes again while they lord it at their country retreats and snigger under their breath at the enslaved workforce

Actually when you look at all the arguments and whats being proposed its quite possible that regulations will be changed in a knee jerk manner which damages the nation long term. Digby Jones is a bright boy and his arguments will be being made not in support of bankers but in support of industry.

When you get these sorts of issues there is always a danger that the govt over regulates in response which does no one any good.

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Lordy Digby Jones says on a news interview that the culprits who caused the problems in the City are gone now, so don't tighten the regs because it'll stifle City prosperity and growth.

it is almost beyond belief that anyone should think the city brigade are to be trusted to run their own show after this - how many miles up the road would it be until a new bunch of wide boys takes over and does the same again? theres already signs of it actually

this country has to forget its love affair with get rich quick schemes once and for all, get some real industry, stop the city casino rebirth that idiots would allow back in the door (if they havent already)

real industries, real safeguards, better to be the agile tortoise to a future thats stable than run like the hare again, cant believe anybody with an iq above that of a pigeon would want to risk it again, or perhaps morons like that wont be happy until we're back to pouring waste out the windows and using vinaigrettes again while they lord it at their country retreats and snigger under their breath at the enslaved workforce

the banks and finance are the most heavily regulated, the FSA has employed over a thousand administrators for 10+ years and still we have a credit boom not because of lack of regulation but because of the central bank and on the direct orders of politicians who want to get re-elected and who want to spend crazy sums of money. regulating banks and finance wont make ONE BIT OF DIFFERENCE, it is merely a con trick to divert your attention from the real thieves (the Bank of England and the Treasury)

Edited by punter

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When you get these sorts of issues there is always a danger that the govt over regulates in response which does no one any good.

I'm willing to give over-regulation a shot, anything has to be better than leaving things as they are.

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I'm willing to give over-regulation a shot, anything has to be better than leaving things as they are.

the finance sector has been the most heavily regulated in the world, it's not a lack of regulation that we have these problems it's because the GUBBERMENT I.E THE REAL THIEVES/SCUM regulate too much and then worse, they dont let the bastards fail! so now they tell us we need more regulations, perhaps another 1000 employees of the FSA to keep an eye on things. total fallacy.

Edited by punter

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the finance sector has been the most heavily regulated in the world, it's not a lack of regulation that we have these problems it's because the GUBBERMENT I.E THE REAL THIEVES/SCUM regulate too much and then worse, they dont let the bastards fail! so now they tell us we need more regulations, perhaps another 1000 employees of the FSA to keep an eye on things. total fallacy.

Which is why retail and investment banking need to have clear blue water between them, as VC says, too big to fail, too big to operate.

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Which is why retail and investment banking need to have clear blue water between them, as VC says, too big to fail, too big to operate.

Something like, oh I don't know, the Glass Steagall Act?

But but but wouldn't that stifle innovation?

:lol:

(as you can see I am in a good mood today).

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Lordy Digby Jones says on a news interview that the culprits who caused the problems in the City are gone now, so don't tighten the regs because it'll stifle City prosperity and growth.

it is almost beyond belief that anyone should think the city brigade are to be trusted to run their own show after this - how many miles up the road would it be until a new bunch of wide boys takes over and does the same again? theres already signs of it actually

this country has to forget its love affair with get rich quick schemes once and for all, get some real industry, stop the city casino rebirth that idiots would allow back in the door (if they havent already)

real industries, real safeguards, better to be the agile tortoise to a future thats stable than run like the hare again, cant believe anybody with an iq above that of a pigeon would want to risk it again, or perhaps morons like that wont be happy until we're back to pouring waste out the windows and using vinaigrettes again while they lord it at their country retreats and snigger under their breath at the enslaved workforce

Taylor estate agent in Yate Bristol sent me details of two properties nearby with £20k reductions (175k less 20k and 110k less 20k). I said they were still grossly over valued and people needed to get real in view of poor economic conditions. Agent also said lenders and borrowers were still happy with earnings multiples of 5.5x and above. So it seems like business as usual and no sign of the promised regulation.

I like to piss off as many Agents as possible by making low offers just to help the cause.

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Which is why retail and investment banking need to have clear blue water between them, as VC says, too big to fail, too big to operate.

it won't make a blind bit of difference if you still have a central bank and someone like Gordon Brown demanding a boom to get re-elected, setting ultra low interest rates and creating bubbles. Retail and investment banking is totally irrelevent, the best regulation is to let them fail and re-organize but no, we can't do that can we... we must regulate, bail out, order because WHITEHALL and you know best (do you f**k)

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