Who Should We Blame For The Crisis?

[Dave Spart]

From trades unions to terror groups, these days everybody seems to want to blame someone for the crisis. If action is to be taken, let's make sure the right groups are blamed and punished according to the degree of their guilt.

Bankers, economists, regulators, estate agents, surveyors, property shows, the media, BTLers, property tycoons, MEWers*, smug home-owners and so on all deserve to take their fair share of the blame. Are there any others? What would be a defintive list? What percentage of the blame do they each deserve?

List put a list together and attribute a proportion of the blame and make a Humble Pie Chart. I'll start.

Bankers 30 (Because they're worth it)

Regulators 10

Estate agents 10

Property shows 10

BTLers/Property tycoons 10

MEWers 5

Economists 5

Surveyors 5

Marketers 5 (Here come the girls falls)

The media 5

Smug home-owners 5

*Is the result of MEWing known as MEWage?

Edited September 16, 2010 by Dave Spart

[57percent]

Regulators/Govt 70

Bankers 20

People 10

[shindigger]

Gordon Brown.

And dont anybody forget it.

[Fudge]

Its not who we should blame but what we should blame.

Capitalism is the problem.

Boom and bust is inherent within capitalism and if you look back through history it has lurched from one crises to another.

This one is a biggy on par with the crises in the 1930's.

So when Mervyn King says as he did the other day things were going great but we let things slip away its rubbish.

We had a massive boom which was based on a housing boom. The bankers in the city made a killing.

Now its all gone bust the average joe is expected to take the pain in the form of job losses, repossessions, pay cuts, cuts to welfare and public services

in order for the bankers to continue receiving their million pound bonuses.

[Milton]

Gordon Brown.

And dont anybody forget it.

Labour Party / Regulators.

[koala_bear]

From trades unions to terror groups, these days everybody seems to want to blame someone for the crisis. If action is to be taken, let's make sure the right groups are blamed and punished according to the degree of their guilt.

Bankers, economists, regulators, estate agents, surveyors, property shows, the media, BTLers, property tycoons, MEWers*, smug home-owners and so on all deserve to take their fair share of the blame. Are there any others? What would be a defintive list? What percentage of the blame do they each deserve?

List put a list together and attribute a proportion of the blame and make a Humble Pie Chart. I'll start.

Bankers 30 (Because they're worth it)

Regulators 10

Estate agents 10

Property shows 10

BTLers/Property tycoons 10

MEWers 5

Economists 5

Surveyors 5

Marketers 5 (Here come the girls falls)

The media 5

Smug home-owners 5

*Is the result of MEWing known as MEWage?

The BBC news yesterday lunchtime (1345) had the MD of Alix partners (specialist corporate restructures etc) talking about retailers after the Next Results and their talk of dark clouds on the horizon.

The interviewers final question:

"So is the Golden age of retail over then?"

Response:

"Pretty much, a lot of it was funded by unsecured credit card lending and mortgage equity withdrawal, there is still £10bn of credit card and £55bn of mortgage equity withdrawal outstanding that has yet to be repaid, until it is..."

It think you need to up the MEWage number in the pie oh and may be a bit more for the marketing as they encouraged people to spend money they didn't have

Edited September 16, 2010 by koala_bear

[non frog]

Old people. (100%)

[DeepLurker]

Everyone but me.

[mikthe20]

Gordon Brown.

And dont anybody forget it.

This - if anyone was in a position to at least prevent it, it was him.

Once it happened, he was also in a position to punish the bankers/debtors by not bailing them out, therefore removing moral hazard and also resetting the market to make assets affordable and the economy stable, and he neglected to do that too - in fact quite the reverse.  [damn, won't let me use a w@nker smiley]  

[Injin]

Savers. Not asking where the money came from, who owned it or paying much attention to what those they gave it to were doing with it as long as the interest rate was vaguely attractive. For moaning about low interest rates in a depression.

Shareholders - same deal. The search for profits and no responsibility.

Borrowers - 11x your income for a pile of bricks is ******ing numb.

Commercial Bankers - for staying silent and just pocketing their bit. For running to the state when it all went wrong. Hypocritical tossers.

Central bankers - for bankrolling wars in the middle east by householder debt and enslaving hundreds of millions to a fantasy. These guys should rot in a pit of fetid semen.

Lots of now dead men - cheers Keynes and co for creating a system you knew would fail "in the long run we are all dead." Yeah, thanks for that buddy.

Free marketeers - for getting into bed with the statists and the banksters. Those guys have the same interest in the free market as Ming the fricking Merciless. Morons. Good job on handing evil men lots of wealth and discrediting the actual free market, probably for a generation, Milton and company.

Economists - for treating their profession as a type of lawyerism. No search for actual factual answers, almost all pushing a product or political view (and lying that they aren't doing exactly that.) What was it? Out of the 15,000 professional economists in the west, 6 spotted the housing bubble? Or more likely only 6 thought it was worth mentioning, the rest were too busy pocketing the cash from "new paradigm" *****ery.

Regulators - for wanting a job in goldman sachs/anybanks trough when their days as a lawgiver were over. Regulation is ******** but they could at least have tried to give it a go.

meh....

[shindigger]

This - if anyone was in a position to at least prevent it, it was him.

Once it happened, he was also in a position to punish the bankers/debtors by not bailing them out, therefore removing moral hazard and also resetting the market to make assets affordable and the economy stable, and he neglected to do that too - in fact quite the reverse.  [damn, won't let me use a w@nker smiley]  

Yup.

"The People" were encouraged to be greedy and stupid in order to propogate votes.

He could have saved the stupid from themselves by raising rates at several points along the curve, but he chose to push more drugs for votes.

This is all about one inadequate mans thwarted ambition and desperation.

The utter utter ****.

[Riedquat]

This - if anyone was in a position to at least prevent it, it was him.

Once it happened, he was also in a position to punish the bankers/debtors by not bailing them out, therefore removing moral hazard and also resetting the market to make assets affordable and the economy stable, and he neglected to do that too - in fact quite the reverse.  [damn, won't let me use a w@nker smiley]  

Completely agree with Brown's guilt in this but don't let everyone who took advantage of his idiotic policies off the hook. They need to be strung up alongside him. If you let a burglar out of prison who should still be there and he burgles someone's house then just because some moron let him out doesn't mean he isn't guilty either.

[sbn]

Yuup - Gordon Brown

Everyone else was just behaving as they normally would if they are allowed to get away with it. The corruption went right to the top - one good man at the top could have stopped it all

[douggggy]

(love of) credit cards, root of all evil that is Britain in 2010

can`t afford it ... then save up for it !!!!!!!!!!!!!!!!!

[darwin]

Gordon Brown.

And dont anybody forget it.

Twice over, in fact.

Gordon Brown as Chancellor and Gordon Brown as Prime Minister.

[ccc]

I am always amazed at how easily the general public* get off with this. Saw some chump bird on the TUC thing last night whingeing about King. Which may be fine by itself but she came out with the standard nonsense

"It's all their fault they should admit that it had nothing to do with any of us"

I find the general public's attitude to this just as nasueating as Politicians,bankers, property developer and all the usual suspects.

* Those who went along with the ********. Must be tens of millions.

[PopGun]

Savers. Not asking where the money came from, who owned it or paying much attention to what those they gave it to were doing with it as long as the interest rate was vaguely attractive. For moaning about low interest rates in a depression.

Shareholders - same deal. The search for profits and no responsibility.

Borrowers - 11x your income for a pile of bricks is ******ing numb.

Commercial Bankers - for staying silent and just pocketing their bit. For running to the state when it all went wrong. Hypocritical tossers.

Central bankers - for bankrolling wars in the middle east by householder debt and enslaving hundreds of millions to a fantasy. These guys should rot in a pit of fetid semen.

Lots of now dead men - cheers Keynes and co for creating a system you knew would fail "in the long run we are all dead." Yeah, thanks for that buddy.

Free marketeers - for getting into bed with the statists and the banksters. Those guys have the same interest in the free market as Ming the fricking Merciless. Morons. Good job on handing evil men lots of wealth and discrediting the actual free market, probably for a generation, Milton and company.

Economists - for treating their profession as a type of lawyerism. No search for actual factual answers, almost all pushing a product or political view (and lying that they aren't doing exactly that.) What was it? Out of the 15,000 professional economists in the west, 6 spotted the housing bubble? Or more likely only 6 thought it was worth mentioning, the rest were too busy pocketing the cash from "new paradigm" *****ery.

Regulators - for wanting a job in goldman sachs/anybanks trough when their days as a lawgiver were over. Regulation is ******** but they could at least have tried to give it a go.

meh....

+1

What savers contributed to the crisis? Say it isn't so........

They worked hard for their STR fund...........

[winkie]

Yuup - Gordon Brown

Everyone else was just behaving as they normally would if they are allowed to get away with it. The corruption went right to the top - one good man at the top could have stopped it all

He chose to ignore what was clearly happening because it suited him, then went on to blame everyone else, then tried to tell us he saved us all from a financial depression with the actions he took, not only that he saved the world also.

...reminded me of this, quite comical.

Edited September 16, 2010 by winkie

[shindigger]

I am always amazed at how easily the general public* get off with this. Saw some chump bird on the TUC thing last night whingeing about King. Which may be fine by itself but she came out with the standard nonsense

"It's all their fault they should admit that it had nothing to do with any of us"

I find the general public's attitude to this just as nasueating as Politicians,bankers, property developer and all the usual suspects.

* Those who went along with the ********. Must be tens of millions.

Agreed.

But Brown fed them the drugs.

"Please like me..... have some free money".

[Injin]

Agreed.

But Brown fed them the drugs.

"Please like me..... have some free money".

behave.

Brown was picked by the guys in the back, they always are.

Shiny happy salesmen blair on the way up, broody dour twit brown on the way down.

If it wasn't him it'd be someone else just like him doing the same damn thing.

[Executive Sadman]

Lots of people were idiots, mostly within the law though. Estate agents, while being irresponsible in their constant cheerleading, were/are within their right to do so. Some, however, criminally so. Namely countless mortgage advisers, as shown on Eric Prebbles SKY video FRAUDULENTLY advising clients to LIE about their incomes.

We cant build debtors prisons, there would simply be too many inmates, however, i would truly like to see a couple of thousand mortgage brokers LOCKED UP FOR A VERY LONG TIME.

[Toto deVeer]

President Woodrow Wilson?

[Alan B'Stard MP]

If it wasn't him it'd be someone else just like him doing the same damn thing.

I always fancied myself as a career polly.

Pearly whites scrubbed clean by the house maid at No. 10 before the photo call.

I wouldn't want dead babies to mar my posterity.

[shindigger]

behave.

Brown was picked by the guys in the back, they always are.

Shiny happy salesmen blair on the way up, broody dour twit brown on the way down.

If it wasn't him it'd be someone else just like him doing the same damn thing.

Yeah, probably right.

But i still hate the ****.

As a frontman he was hardly the best. And also the bit whe the shiny salesman was in charge on the ay up, Brown was still pulling the levers of the economy along with his equally mental sidekicks Cooperballs.

There is a fundamental flaw in new labour, they still dont accept responsibility for any of the mess.

Despite all the new world chunterings, new labour were ******ing evil retards and remain so.

Mentalists.

[DeepLurker]

Gordon Brown.

And dont anybody forget it.

In the interest of balance, let's not forget Her Majesty's Most Loyal Opposition, who did sod all opposing.

(Let's face it, Dave is in power only because he's not Gordon...)