onlyme2 Posted June 17, 2014 Share Posted June 17, 2014 I missed this one. The filth at the central bank want to put the taxpayer on the hook for even more of their special interest mates' gambles. This is scandalous. Every single person responsible for these decisions should be made financially inclusive of all all losses that arise, or jailed if they cannot make them good. http://www.ft.com/cms/s/0/df222bd2-f2cd-11e3-85cd-00144feabdc0.html#axzz34t0u9GRJ The Bank of England has decided upon a significant extension of the range of institutions it is willing to lend to as it responds to the rise of shadow banking and the rapid evolution of the financial system. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted June 17, 2014 Share Posted June 17, 2014 I missed this one. The filth at the central bank want to put the taxpayer on the hook for even more of their special interest mates' gambles. This is scandalous. Every single person responsible for these decisions should be made financially inclusive of all all losses that arise, or jailed if they cannot make them good. http://www.ft.com/cms/s/0/df222bd2-f2cd-11e3-85cd-00144feabdc0.html#axzz34t0u9GRJ The Bank of England has decided upon a significant extension of the range of institutions it is willing to lend to as it responds to the rise of shadow banking and the rapid evolution of the financial system. aaaah.... the cosy security of the taxpayers teat. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted June 17, 2014 Share Posted June 17, 2014 Abenomics by any other name would smell as foul. Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted June 17, 2014 Author Share Posted June 17, 2014 aaaah.... the cosy security of the taxpayers teat. Can always print some money, call it something else, lie about inflation and the public will be none the wiser that everything that they have earned in the past and everything that they will earn has been devalued.. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted June 17, 2014 Share Posted June 17, 2014 Shadow banking system in need of a buyout. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 17, 2014 Share Posted June 17, 2014 Shadow banking system in need of a buyout. Shadow banking system is going to destroy us all. Do they actually want it all to collapse so they can have a war/revolution/destruction across the world ? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 17, 2014 Share Posted June 17, 2014 not sure why the issue here...I mean, its not like they are banks or anything, just huge corporates which are also able to borrow and securitise through the BoE. The shadow banking system is a term for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks. Former Federal Reserve Chair Ben Bernanke provided a definition in April 2012: "Shadow banking, as usually defined, comprises a diverse set of institutions and markets that, collectively, carry out traditional banking functions--but do so outside, or in ways only loosely linked to, the traditional system of regulated depository institutions. Examples of important components of the shadow banking system include securitization vehicles, asset-backed commercial paper (ABCP) conduits, money market mutual funds, markets for repurchase agreements (repos), investment banks, and mortgage companies." Shadow banking has grown in importance to rival traditional depository banking and was a primary factor in the subprime mortgage crisis of 2007-2008 and global recession that followed Quote Link to comment Share on other sites More sharing options...
zugzwang Posted June 17, 2014 Share Posted June 17, 2014 not sure why the issue here...I mean, its not like they are banks or anything, just huge corporates which are also able to borrow and securitise through the BoE. The shadow banking system is a term for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks. Former Federal Reserve Chair Ben Bernanke provided a definition in April 2012: "Shadow banking, as usually defined, comprises a diverse set of institutions and markets that, collectively, carry out traditional banking functions--but do so outside, or in ways only loosely linked to, the traditional system of regulated depository institutions. Examples of important components of the shadow banking system include securitization vehicles, asset-backed commercial paper (ABCP) conduits, money market mutual funds, markets for repurchase agreements (repos), investment banks, and mortgage companies." Shadow banking has grown in importance to rival traditional depository banking and was a primary factor in the subprime mortgage crisis of 2007-2008 and global recession that followed They do almost all the things that banks do except their reserves aren't guaranteed by the central bank. Which ought to make them safe to the average depositor but doesn't because the traditional banks are always massively exposed to them. Quote Link to comment Share on other sites More sharing options...
wonderpup Posted June 17, 2014 Share Posted June 17, 2014 At this rate we will have to give up our favorite bone of contention on HPC- the evergreen 'Socialism V Capitalism' debate- because it's becoming harder and harder to detect the difference between a capitalist system totally dependent on state support and the socialist creed it's supposed to be an alternative to. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted June 17, 2014 Share Posted June 17, 2014 At this rate we will have to give up our favorite bone of contention on HPC- the evergreen 'Socialism V Capitalism' debate- because it's becoming harder and harder to detect the difference between a capitalist system totally dependent on state support and the socialist creed it's supposed to be an alternative to. Nooo. Along will come a neo-liberal poster to tell us the State is to blame for everything, even though the State is being lobbied to conduct these policies, by so called capitalists and has to some extent been captured by them. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 17, 2014 Share Posted June 17, 2014 the State could say no. Quote Link to comment Share on other sites More sharing options...
Ah-so Posted June 17, 2014 Share Posted June 17, 2014 Peer-to-peer lenders are also part of the shadow banking system. But I doubt they will get access to central bank cash. Quote Link to comment Share on other sites More sharing options...
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