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The Masked Tulip

Some Bloke Having A Go At Uk Banks And Subprime Mortgages On Fivelive

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A chap - I think his name was Christopher Clark??? - from Nottingham business school just had a wonderful 'rant' on Fivelive about the banks, what a mess they had caused and how the people who caused it were still in their jobs earning 250K a year.

He went on and talked about the banks and UK subprime mortgage lending and said that people should be worrying about whether they could afford their mortgage if interest rates rose to 14 percent due to all the QE because QE will cause inflation.

The presenters just let him rip and didn't really challenge him. Well done him.

Well worth a listen when it turns up on iplayer.

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A chap - I think his name was Christopher Clark??? - from Nottingham business school just had a wonderful 'rant' on Fivelive about the banks, what a mess they had caused and how the people who caused it were still in their jobs earning 250K a year.

He went on and talked about the banks and UK subprime mortgage lending and said that people should be worrying about whether they could afford their mortgage if interest rates rose to 14 percent due to all the QE because QE will cause inflation.

The presenters just let him rip and didn't really challenge him. Well done him.

Well worth a listen when it turns up on iplayer.

Huh!! :rolleyes::rolleyes:

Yup...... He is just telling us about the poison laid down since the late 90s early 2000's...... thanks to

PREDATORY LIAR LOANS --

THE Greatest Financial Time-Bomb in all History -

THE Greatest PonziScam/Financial Fraud in all History -

& you can thank Gordon Idiot-Brown & all his merry men for allowing it all to happen.... :rolleyes:

Edited by eric pebble

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Not listened to it but a scottish politician decided to cover the banking system's losses with public money, thereby making the banks reliant on public bailouts until eventual collapse. The banking system owns us and UK plc, we're slaves. The political system is responsible for everything, why is nobody having a go at the politicians that sold us to the banks.

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Not listened to it but a scottish politician decided to cover the banking system's losses with public money, thereby making the banks reliant on public bailouts until eventual collapse. The banking system owns us and UK plc, we're slaves. The political system is responsible for everything, why is nobody having a go at the politicians that sold us to the banks.

It's not so much the bailouts, it's the failure to fix things after the bailouts.

I'ts quite mad.. the taxpayer has got these guys off the hook for billions, but only wants 'arms length' management.

The banks should have been broken up - at the very least RBS, Natwest, LLoyds, Bank of Scotland and Halifax should be separate entities, and for each of these the investment banking sections hived off. The retail networks would be OK to privatise pretty quickly, the investment banking arms needed re-sizing.

All bonuses should have been scrapped until the banks were back to being fully private. Only viable businesses should be paying bonuses.

Fact is the politicians basically handed over the cash and asked for nothing in return. And the coalition carried on with the same..

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A chap - I think his name was Christopher Clark??? - from Nottingham business school just had a wonderful 'rant' on Fivelive about the banks, what a mess they had caused and how the people who caused it were still in their jobs earning 250K a year.

He went on and talked about the banks and UK subprime mortgage lending and said that people should be worrying about whether they could afford their mortgage if interest rates rose to 14 percent due to all the QE because QE will cause inflation.

The presenters just let him rip and didn't really challenge him. Well done him.

Well worth a listen when it turns up on iplayer.

If you send him an email to let him know your view, you might get a response:

http://www.ntu.ac.uk/apps/staff_profiles/staff_directory/135699-0/26/profile.aspx

You might like his blog:

http://economicperil.com/author/economicperil/

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It's not so much the bailouts, it's the failure to fix things after the bailouts.

I'ts quite mad.. the taxpayer has got these guys off the hook for billions, but only wants 'arms length' management.

The banks should have been broken up - at the very least RBS, Natwest, LLoyds, Bank of Scotland and Halifax should be separate entities, and for each of these the investment banking sections hived off. The retail networks would be OK to privatise pretty quickly, the investment banking arms needed re-sizing.

All bonuses should have been scrapped until the banks were back to being fully private. Only viable businesses should be paying bonuses.

Fact is the politicians basically handed over the cash and asked for nothing in return. And the coalition carried on with the same..

+1

One of the most disappointing aspects is the failure to call non-exec directors to account.

Wiki:

"Non-executive directors have responsibilities in the following areas, according to the Higgs Report, commissioned by the British government published in 2003;

Strategy: Non-executive directors should constructively challenge and contribute to the development of strategy.

Performance: Non-executive directors should scrutinise the performance of management in meeting agreed goals and objectives and monitoring and where necessary removing senior management, and in succession planning.

Risk: Non-executive directors should satisfy themselves that financial information is accurate and that financial controls and systems of risk management are robust and defensible.

People: Non-executive directors are responsible for determining appropriate levels of remuneration of executive directors and have a prime role in appointing and where necessary removing senior management, and in succession planning.

NEDs should also provide independent views on:

Resources

Appointments

Standards of conduct

Non-executive directors are the custodians of the governance process. They are not involved in the day-to-day running of business but monitor the executive activity and contribute to the development of strategy."

Having met a few NEDs, they all seem to be of the cut-glass accent, hand made shoes, exceptionally well connected public school type. Therefore, it is no shock that their peers in number 10 and 11 have done nothing to make them accountable.

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It's not so much the bailouts, it's the failure to fix things after the bailouts.

I'ts quite mad.. the taxpayer has got these guys off the hook for billions, but only wants 'arms length' management.

The banks should have been broken up - at the very least RBS, Natwest, LLoyds, Bank of Scotland and Halifax should be separate entities, and for each of these the investment banking sections hived off. The retail networks would be OK to privatise pretty quickly, the investment banking arms needed re-sizing.

All bonuses should have been scrapped until the banks were back to being fully private. Only viable businesses should be paying bonuses.

Fact is the politicians basically handed over the cash and asked for nothing in return. And the coalition carried on with the same..

This. And it's what I'm absolutely furious about also.

I can understand the gov didn't want wholesale bank runs on nearly every single bank and monetary collapse.

But that did not prevent investigations, break-ups, criminal proceedings, and jail time, for large numbers of bank senior executives.

A UK Pecora Commission if you will.

The gov was in such a strong position vs the banks at that time, that it could have forced such things through as a condition of the bailouts without as much as a wimper of complaint. The banksters would have complained after of course, but once such things were in motion it would have been much more difficult to stop.

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A chap - I think his name was Christopher Clark??? - from Nottingham business school just had a wonderful 'rant' on Fivelive about the banks, what a mess they had caused and how the people who caused it were still in their jobs earning 250K a year.

He went on and talked about the banks and UK subprime mortgage lending and said that people should be worrying about whether they could afford their mortgage if interest rates rose to 14 percent due to all the QE because QE will cause inflation.

The presenters just let him rip and didn't really challenge him. Well done him.

Well worth a listen when it turns up on iplayer.

I heard it, it was fantastic! Such a pity if it's not available on iPlayer.

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A chap - I think his name was Christopher Clark??? - from Nottingham business school just had a wonderful 'rant' on Fivelive about the banks, what a mess they had caused and how the people who caused it were still in their jobs earning 250K a year.

He went on and talked about the banks and UK subprime mortgage lending and said that people should be worrying about whether they could afford their mortgage if interest rates rose to 14 percent due to all the QE because QE will cause inflation.

The presenters just let him rip and didn't really challenge him. Well done him.

Well worth a listen when it turns up on iplayer.

..hah ..hah ..love it ...the presenters are all cushioned by BBC tax funded salaries (not the real world)..and would not have a clue about what he was talking about ...they are all thick lefties....again somebody talking reality hits the nail on the head ......but most will not realise it until they discover we are no better than a 'banana republic'..at least these 'republics' are aware..and restrict their spending accordingly ...our lot including the 'tax payer over funded broadcaster' ...are not .....does the Canadian understand what he has taken on...?.... :rolleyes:

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I heard it, it was fantastic! Such a pity if it's not available on iPlayer.

Amazing isn't it - a chap spells out the obvious about banking, QE, HPs and inflation and only the first part of the prog he was on gets uploaded to iplayer but not the bit containing what he said? Funny that.

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Amazing isn't it - a chap spells out the obvious about banking, QE, HPs and inflation and only the first part of the prog he was on gets uploaded to iplayer but not the bit containing what he said? Funny that.

...that is why the BBC must be shut down ..purveyors of misinformation..... :rolleyes:

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Amazing isn't it - a chap spells out the obvious about banking, QE, HPs and inflation and only the first part of the prog he was on gets uploaded to iplayer but not the bit containing what he said? Funny that.

Yeah, it's the global conspiracy that transmits the programme live to anyone listening to the radio but obscures it to the half dozen people who might try to listen on iplayer.

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Yeah, it's the global conspiracy that transmits the programme live to anyone listening to the radio but obscures it to the half dozen people who might try to listen on iplayer.

...it's not a 'global conspiracy' ..the rest of the world are brighter...it's just the lefties at the BBC conspiring as usual .... :rolleyes:

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I have a friend that temped long term at the BBC, and after a while said the employee's were not Alan Sugaresque, rather children of the Establishment that could not hold a job down.

..yeah ...all Oxbridge pseudo lefties.... :rolleyes:

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