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Fsa Banking Regulator Leaves (clive Briault?)

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This dude:

http://www.fsa.gov.uk/pages/about/who/board/briault.shtml

It doesn't look like someone junior.

In it from the beginning too. Just adds evidence to my suspicion that the FSA have been corrupt from the outset.

And here's his speech about risk and sub-prime in Britain - just before the Northern Rock incident.

http://www.fsa.gov.uk/pages/Library/Commun...7/0420_cb.shtml

Edited by A.steve

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This dude:

http://www.fsa.gov.uk/pages/about/who/board/briault.shtml

It doesn't look like someone junior.

In it from the beginning too. Just adds evidence to my suspicion that the FSA have been corrupt from the outset.

And here's his speech about risk and sub-prime in Britain - just before the Northern Rock incident.

http://www.fsa.gov.uk/pages/Library/Commun...7/0420_cb.shtml

SKY are reporting he was in charge of the team looking after Northern CRock. Fall guy to protect head of FSA/Gieve.

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Who put the FSA in charge of regulating the banks?

The Bank of England had been doing the job well for generations.

Only a man of monumental incompetence would have made the change.

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SKY are reporting he was in charge of the team looking after Northern CRock. Fall guy to protect head of FSA/Gieve.

Sounds like Sky don't like Sir John Gieve.... I only know what I saw of him in the treasury select comittee meeting. My impression was of an unprepared man struggling with a hangover... he said little of interest and didn't appear to have much of a clue. I wondered if he was merely the figurehead as opposed to someone credible. The committee didn't give him a hard time either - which I thought was weird...

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SKY are reporting he was in charge of the team looking after Northern CRock. Fall guy to protect head of FSA/Gieve.

he had a big department then- 2 subordinates? certainly worth his x00K salary.

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Who put the FSA in charge of regulating the banks?

The Bank of England had been doing the job well for generations.

Only a man of monumental incompetence would have made the change.

Brown (under Blair) did this - at the time of the 1998 Bank of England Act.

I remain undecided...

Maybe this move was genius (since it provided a decade of illusionary wealth that buoyed up support for government) - all be it corrupt and malevolent.

Maybe, on the other hand, Brown is a dangerous egotistical retard - and no-one credible noticed and shouted loudly enough in the media.

Both are pretty wild accusations... but I see no other possibilities.

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This dude:

http://www.fsa.gov.uk/pages/about/who/board/briault.shtml

It doesn't look like someone junior.

In it from the beginning too. Just adds evidence to my suspicion that the FSA have been corrupt from the outset.

And here's his speech about risk and sub-prime in Britain - just before the Northern Rock incident.

http://www.fsa.gov.uk/pages/Library/Commun...7/0420_cb.shtml

Wow, that speech is f*cking prescient.

Placing a one way bet on rising house prices as a mechanism guaranteed to bail out both borrowers and lenders is not a sensible course of action - even a slowdown in house price rises could expose a number of seriously over-indebted borrowers.

AND it wasn't "just before the Northern Rock incident"; it was in April 2007.

Looks like they fired the wrong guy.

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Wow, that speech is f*cking prescient.

AND it wasn't "just before the Northern Rock incident"; it was in April 2007.

Looks like they fired the wrong guy.

Yes, I thought it worth posting. :P

I consider "same year" to be "just before" - 4 months before - or there about. Probably too late to actually make much of a difference.

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Yes, I thought it worth posting. :P

I consider "same year" to be "just before" - 4 months before - or there about. Probably too late to actually make much of a difference.

Yes, fair enough, I suppose. And to be honest, the Northern Rock board members were probably too caught up in the miracle business model they'd invented to listen to the predictions of this Cassandra anyway.

It's a great speech though, lovely stuff about stress-testing business models for changes in funding and asset values!

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Who put the FSA in charge of regulating the banks?

The Bank of England had been doing the job well for generations.

Only a man of monumental incompetence would have made the change.

Also -- I just wonder how much Lobbying has been going on over the last decade, in the background. In the USA, banks, credit card co:'s, mortgage co:'s - have apparently spent HUNDREDS OF MILLIONS of $'s to LOBBY both the Senate and Congress to quietly change laws in THEIR FAVOUR -- and in this climate the SUB-PRIME CULTURE grew -

i.e. THE LIAR LOAN INDUSTRY.

it was ALL DELIBERATE, CALCULATED AND PLANNED --- and don't think it hasn't been and isn't the case here in the UK: The whole of the BTL Phenomenon was PLANNED and LOBBIED FOR -- and they are also STILL seriously hyping the "Equity Release" scams -- JUST AS ANOTHER WAY TO MILK PROPERTY for "PROFITS". If you were to peel away the facade - and look beyond -- the whole MONEYLENDING "BUSINESS" is RIDDLED WITH FRAUD, CORRUPTION, GREED, CHEATING AND LYING.

Edited by eric pebble

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"Equity Release" scams

Thinking about "Equity Release" - it seems obvious why this is in the favour of mortgage lenders - even if they give a fair deal...

We've an ageing population who own the majority of the best property - but, likely, have scant savings and pension provisions when compared with the valuation of their properties. The last thing that mortgage lenders want to see is these homes on the market... and equity release seems an excellent way to delay this happening... especially if it traps the owners in a property that they can't afford to sell.

What interests me, however, is the mechanism by which these schemes operate. Equity release has to be more "dangerous" activity than secured lending - since, in the latter, you assume that the the principle will be repaid without resorting to sale of the asset. How does equity release affect the balance sheets of lenders?

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Also -- I just wonder how much Lobbying has been going on over the last decade, in the background. In the USA, banks, credit card co:'s, mortgage co:'s - have apparently spent HUNDREDS OF MILLIONS of s to LOBBY both the Senate and Congress to quietly change laws in THEIR FAVOUR -- and in this climate the SUB-PRIME CULTURE grew -

i.e. THE LIAR LOAN INDUSTRY.

it was ALL DELIBERATE, CALCULATED AND PLANNED --- and don't think it hasn't and isn't here in the UK: The whole of the BTL Phenomenon was PLANNED and LOBBIED FOR -- and they are also STILL seriously hyping the "Equity Release" scams -- JUST AS ANOTHER WAY TO MILK PROPERTY for "PROFITS". If you were to peel away the facade - and look beyond -- the whole MONEYLENDING "BUSINESS" is RIDDLED WITH FRAUD, CORRUPTION, GREED, CHEATING AND LYING.

Exactly, its a scheme to turn your personal potential wealth into a debt and interest, with a win win for the banksters.

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Exactly, its a scheme to turn your personal potential wealth into a debt and interest, with a win win for the banksters.

It is quite amazing how far this has all got ---- the BANKERS are UTTERLY VORACIOUS -- they will stop at NOTHING to "make money" --- they would feed their mothers to the lions for "money"......

Edited by eric pebble

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Maybe this move was genius (since it provided a decade of illusionary wealth that buoyed up support for government) - all be it corrupt and malevolent.

Scary --- I think the latter.

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Sounds like the fall guy

"early retirement" no doubt. In a similar way to those in the Police that decide to retire before facing nasty internal disciplinary proceedures. Protecting the nice civil service pension......

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"early retirement" no doubt. In a similar way to those in the Police that decide to retire before facing nasty internal disciplinary proceedures. Protecting the nice civil service pension......

That's the thing..... All these public "servants" have massively feathered their nests --- And look at people like Balls MP and his wife -- 2 or 3 houses bought with OUR MONEY --- and ON TOP OF THAT they take this and MASSIVE FAT PENSIONS for ex-cabinet ministers off into the sunset...... BALLS -- The Creepiest. most LOATHESOME SNAKE IN THE GRASS.....

Edited by eric pebble

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This dude:

http://www.fsa.gov.uk/pages/about/who/board/briault.shtml

It doesn't look like someone junior.

In it from the beginning too. Just adds evidence to my suspicion that the FSA have been corrupt from the outset.

And here's his speech about risk and sub-prime in Britain - just before the Northern Rock incident.

http://www.fsa.gov.uk/pages/Library/Commun...7/0420_cb.shtml

Too good a report --- too close to the truth --- so bin the author......

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  • 293 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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