OnlyMe Posted June 30, 2007 Share Posted June 30, 2007 Taking the piss. http://news.bbc.co.uk/1/hi/business/6253752.stm Bank of England fears bank risks Bank of England building The City could be vulnerable to financial shocks The Bank of England has warned that risks to the financial system have increased as a result of globalisation. ........... Mr Jenkinson's comments follow remarks by Mervyn King, the governor of the Bank of England, on Thursday, where he expressed concern about the banks' involvement in "highly leveraged lending" such as investing in hedge funds. The worries centre around the growing practice of banks buying up a package of credit risks, such as mortgage debt, on the grounds that they are spreading the risk. The credit derivatives market has grown 20-fold in the past five years, from $1 trillion in 2001 to $20 trillion in 2006, and leveraged loans have increased three-fold in the same period. Quote Link to comment Share on other sites More sharing options...
gfromls Posted June 30, 2007 Share Posted June 30, 2007 talking of the BOE, rates won't go up on thurday, but i can't say why. Quote Link to comment Share on other sites More sharing options...
Fancypants Posted June 30, 2007 Share Posted June 30, 2007 Taking the piss.http://news.bbc.co.uk/1/hi/business/6253752.stm Bank of England fears bank risks Bank of England building The City could be vulnerable to financial shocks The Bank of England has warned that risks to the financial system have increased as a result of globalisation. ........... Mr Jenkinson's comments follow remarks by Mervyn King, the governor of the Bank of England, on Thursday, where he expressed concern about the banks' involvement in "highly leveraged lending" such as investing in hedge funds. The worries centre around the growing practice of banks buying up a package of credit risks, such as mortgage debt, on the grounds that they are spreading the risk. The credit derivatives market has grown 20-fold in the past five years, from $1 trillion in 2001 to $20 trillion in 2006, and leveraged loans have increased three-fold in the same period. ok boys, there goes the horse. Now, let's set up a lengthy and convoluted consultation process with a view to making some preliminary recommendations about the agenda for a meeting concerning the current open status of the stable door. Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted June 30, 2007 Author Share Posted June 30, 2007 (edited) ok boys, there goes the horse. Now, let's set up a lengthy and convoluted consultation process with a view to making some preliminary recommendations about the agenda for a meeting concerning the current open status of the stable door. I nominate Barker, she's good at producing lengthy reports for the politicians to wipe their arses on. Edited June 30, 2007 by OnlyMe Quote Link to comment Share on other sites More sharing options...
Panda Posted June 30, 2007 Share Posted June 30, 2007 talking of the BOE, rates won't go up on thurday, but i can't say why. Why, why can you not say? Quote Link to comment Share on other sites More sharing options...
South Lorne Posted June 30, 2007 Share Posted June 30, 2007 Why, why can you not say? ....the only reason for no is political...i.e. if Gordie does not want it......! Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted June 30, 2007 Share Posted June 30, 2007 ....the only reason for no is political...i.e. if Gordie does not want it......! So, he wants Sterling to tank instead? Quote Link to comment Share on other sites More sharing options...
South Lorne Posted June 30, 2007 Share Posted June 30, 2007 So, he wants Sterling to tank instead? ...he is unaware....have you seen any statements from his office where he fears for the economy.....remember maths is not his strong point......he desires the 'feel safe from high interest rates' warmth to glow among his subjects.......he is after all a politician.....we can only hope the MPC take the right action.....! Quote Link to comment Share on other sites More sharing options...
gfromls Posted June 30, 2007 Share Posted June 30, 2007 why was there a cut in august 2005. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted June 30, 2007 Share Posted June 30, 2007 why was there a cut in august 2005. .....to revive a bit of 'feel good'.....hopefully the MPC will do their duty and ignore this time.... Quote Link to comment Share on other sites More sharing options...
PotNoodle Posted July 1, 2007 Share Posted July 1, 2007 why was there a cut in august 2005. Whatever the reason, it seems to be generally accepted now, that that was a very poor decision. It sent out a signal that rates had peaked and were on their way back down again..... which was not the case. If they were uncertain of a rise, they should at least have held. I doubt they would make that mistake again, for all their weakness. The doves might hold, the hawks will raise. No-one, to my knowledge, is even dreaming of reducing. Quote Link to comment Share on other sites More sharing options...
bugged bunny Posted July 1, 2007 Share Posted July 1, 2007 That last cut came about a month after the July 7 bombing in London. Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted July 1, 2007 Share Posted July 1, 2007 talking of the BOE, rates won't go up on thurday, but i can't say why. Better get on to Betfair, then. You'll make a fortune. Quote Link to comment Share on other sites More sharing options...
StainlessSteelCat Posted July 1, 2007 Share Posted July 1, 2007 (edited) That last cut came about a month after the July 7 bombing in London. I've been wondering about this too. And we've just had what look like another bunch of attempted terrorist attacks. Personally it wouldn't surprise me if rates went down in July or August to restore the feel good factor. Edited July 1, 2007 by greencat Quote Link to comment Share on other sites More sharing options...
Disillusioned Posted July 1, 2007 Share Posted July 1, 2007 I don't think attempted bombings would have an effect on the decision. If there is a successful attempt then you're probably right. Quote Link to comment Share on other sites More sharing options...
gordonbrown Posted July 1, 2007 Share Posted July 1, 2007 So, he wants Sterling to tank instead? You never know maybe even below $2.00? I doubt it though, the BOE have been the most hawkish of all the central banks when it comes to interest rates. Quote Link to comment Share on other sites More sharing options...
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