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Taxpayers To Keep Bankster Pockets Lined For Years

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http://www.bloomberg.com/news/2010-12-15/treasury-aid-for-u-k-banks-to-last-for-years-watchdog-says.html

U.K. Taxpayer Support for Banks to Last `For Years,' Spending Monitor Says
By Gonzalo "Gonzo" Vina - Dec 15, 2010 12:01 AM GMT
U.K. Treasury support for banks is likely to remain in place
for years
, and financing the aid is costing taxpayers 5 billion pounds ($7.9 billion) a year, the National Audit Office said.

Like a dead albatross around our necks........for years.

Who will rid us of these troublesome banksters?

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The bankers are laughing at us, in fact they haven't stopped laughing at us any time during this clusterfook they helped create...

'Fool me once, shame on you; fool me twice, shame on me'

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http://www.bloomberg...chdog-says.html

U.K. Taxpayer Support for Banks to Last `For Years,' Spending Monitor Says
By Gonzalo "Gonzo" Vina - Dec 15, 2010 12:01 AM GMT
U.K. Treasury support for banks is likely to remain in place
for years
, and financing the aid is costing taxpayers 5 billion pounds ($7.9 billion) a year, the National Audit Office said.

Like a dead albatross around our necks........for years.

Who will rid us of these troublesome banksters?

Another of their hidden/not-talked-about-in-public is the CDO timebomb due for maturation in 5-7 years. They're screwing us for everything they can before then so they can do a runner! They know exactly what's coming up in those markets.

Collateralised Debt Obligation - CDO

Similar in structure to a collateralized mortgage obligation (CMO) or collateralized bond obligation (CBO), CDOs are unique in that they represent different types of debt and credit risk. In the case of CDOs, these different types of debt are often referred to as 'tranches' or 'slices'. Each slice has a different maturity and risk associated with it. The higher the risk, the more the CDO pays.

Many CDOs are valued on a mark to market basis and thus have experienced substantial write-downs on the balance sheet as their market value has collapsed.

The 'unassessed' size of the CDO timebomb

In late 2005 research firm Celent estimated the size of the global CDO market at USD 1.5 trillion and projected that the market would grow to nearly USD 2 trillion by the end of 2006.

Synthetic Collateralized Debt Obligation expanded under the tenure of Federal Reserve chairman, Alan Greenspan who later expounded on the previously unrecognized risk of these devices in his testimony to a Congressional investigative committee on April 7, 2010.

So highly paid top City 'brains' in these banking/investment corporations never recognised the risks with the sale of these things!

They are the Ultimate con-merchants plying their occluded lies on the World's populations!

Edited by erranta

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If we had of let the banks fail and just covered the savers it would of been alot cheaper and less damaging to our economy. We've been right royally screwed.

Sounds about right to me, although possibly I'd have rescued the banks anyway, just not the scum who were running them. If we really do need the institutions I see no reason not to keep them but make those who ruined them pay every last penny they've got to keep them going. Then throw them out on the street. They get what they deserve, and their replacements are faced with a big incentive not to screw everyone else over for their own gain if they don't want the same thing happening to them.

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It's our role in life.

We will soon be bending over to pay for bank accounts so they can retrieve the money from the bank levy.

The puppet masters have already started jiggling their Lord Turner strings

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8155331/Free-banking-damages-competition-and-customers-says-FSA-chairman-Lord-Turner.html

This is a bit like Gerald Ratner's "I sell crap" moment. Lord Turner openly admitting that his failed regulation cannot stop banks from misselling products.

The current account ... is essentially a loss-leader ... which banks provide in order to get hold of a relationship on which to sell other products. Because of that, there is a desire for them to sell products that are not appropriate.

That article also included this cracker

Hector Sants, chief executive of the FSA, attacked the Bank of England for being "slow on the uptake" during the financial crisis. "The central bank was slow to really engage with the financial stability question. The level of interest in financial stability issues was very low," he said

FSA blaming someone else for Liar Loans, NR 125% mortgages, etc that caused the crisis?

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http://www.bloomberg...chdog-says.html

U.K. Taxpayer Support for Banks to Last `For Years,' Spending Monitor Says
By Gonzalo "Gonzo" Vina - Dec 15, 2010 12:01 AM GMT
U.K. Treasury support for banks is likely to remain in place
for years
, and financing the aid is costing taxpayers 5 billion pounds ($7.9 billion) a year, the National Audit Office said.

Like a dead albatross around our necks........for years.

Who will rid us of these troublesome banksters?

If its costing £5bn a year, and rates are at 1% thats half a trillion in bailouts.

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Guest UK Debt Slave

http://www.bloomberg.com/news/2010-12-15/treasury-aid-for-u-k-banks-to-last-for-years-watchdog-says.html

U.K. Taxpayer Support for Banks to Last `For Years,' Spending Monitor Says
By Gonzalo "Gonzo" Vina - Dec 15, 2010 12:01 AM GMT
U.K. Treasury support for banks is likely to remain in place
for years
, and financing the aid is costing taxpayers 5 billion pounds ($7.9 billion) a year, the National Audit Office said.

Like a dead albatross around our necks........for years.

Who will rid us of these troublesome banksters?

It will require nothing less than bloody revolution, which ain't gonna happen

So sit tight and resign yourself yto being fleeced and fekked over for the rest of your life.

They have a big fekkn dildo jammed so hard up our backsides, the bell-end is wearing your appendix for a hat

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If its costing £5bn a year, and rates are at 1% thats half a trillion in bailouts.

Thats a Rover car plant or two. Sure it wouldn't be cheaper to just buy Toyota, or Honda, launch a British probe to Mars for the money? laugh.gif

I mean if we actually had this money, we would pour into fusion or alternative energy or something, that would actually be useful. But no lets keep the expensive shIthole properties propped up at unrealistic valuations.

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Thats a Rover car plant or two. Sure it wouldn't be cheaper to just buy Toyota, or Honda, launch a British probe to Mars for the money? laugh.gif

I mean if we actually had this money, we would pour into fusion or alternative energy or something, that would actually be useful. But no lets keep the expensive shIthole properties propped up at unrealistic valuations.

I would go as far as to say its treason against the british people.

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  • 312 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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