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eric pebble

D Mail: " - Will The Fat Cats Who've Got Us Into This Mess Suffer? - "

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Will the fat cats who've got us into this mess suffer? You bet they won't . . . But WE will

We assumed that they knew what they were doing.

Today, of course, we see that they most certainly did not.

The men and women responsible for the conduct of the West's financial system have landed themselves, and all of us, in an epic mess of which nobody dares to foretell the outcome.

It is scarcely surprising that we feel bitter.

There seems every likelihood that, after they collected huge rewards on the way up, it will be up to us to pay the bills for their follies on the way down.

http://www.dailymail.co.uk/pages/live/arti...&in_check=N

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Pfft, the Mail has been pumping out HPI propaganda for years. They needn't think they can be absolved of any blame by crying foul now the cat is well and truly out of the bag.

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I would absolutely love it if the help that's eventually given to these wheezing ailing banks were allocated according to the bank's and its directors direct payments to the exchequer. I could foresee tax accountants being employed to do their magic the other way round for a change, and trying to shove as much money as possible through the books and into the tax coffers which will be raided to pay for the mess they and TB/GB have gotten us into.

I can but dream, I fear.

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I would absolutely love it if the help that's eventually given to these wheezing ailing banks were allocated according to the bank's and its directors direct payments to the exchequer. I could foresee tax accountants being employed to do their magic the other way round for a change, and trying to shove as much money as possible through the books and into the tax coffers which will be raided to pay for the mess they and TB/GB have gotten us into.

I can but dream, I fear.

Better still jail those that have systematically ignored rules and restrictions concerning mortgage applications. Allowing the NR board to bid for their failed company - whose idiocy has put billions of £ of taxpayers money at risk?!! What a joke.

Edit, spelling.

Edited by chefdave

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So the blame game continues this time from one of the largest hypee's of property. Perhaps trying to distance themselves from the crap informaiton given in the past.

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So the blame game continues this time from one of the largest hypee's of property. Perhaps trying to distance themselves from the crap informaiton given in the past.

We will see more and more of this....

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So the blame game continues this time from one of the largest hypee's of property. Perhaps trying to distance themselves from the crap informaiton given in the past.

You underestimate how sneaky a rag this is. Check this September 2006 article:

http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770

On one hand they can ramp HPI in case they later want to cry crocodile tears on behalf of those who missed the boat ......

House prices have doubled in just four years with the average home in England now topping the £200,000 barrier.

Annual house price growth is running at its fastest rate for 14 months, according to official government figures published on Monday.

but also reserve the right to blame the banks in case they are later shown to be blameworthy .....

There are concerns that banks and building societies are failing to make proper checks on customers' finances before handing out huge mortgages

Analysis of UK economy ability to cope with massive HPI - none

More than a passing reference to irresponsible lending - none

Complete plonkers.

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Will the fat cats who've got us into this mess suffer? You bet they won't . . . But WE will

We assumed that they knew what they were doing.

Today, of course, we see that they most certainly did not.

The men and women responsible for the conduct of the West's financial system have landed themselves, and all of us, in an epic mess of which nobody dares to foretell the outcome.

It is scarcely surprising that we feel bitter.

There seems every likelihood that, after they collected huge rewards on the way up, it will be up to us to pay the bills for their follies on the way down.

http://www.dailymail.co.uk/pages/live/arti...&in_check=N

Yep. Many people on here are happy that the big banks are appearing to 'suffer'. But are they really?

Surely all that's happening is that taxpayers are stumping up mind-boggling sums while banking power is concentrated in fewer and fewer hands.

Despite the chaos, the misery of debt-addled consumers, the instability, the wool-pulling no one in the mainstream has floated the idea of reigning in the power of the banks.

If this was South America we'd have voted in a left-wing populist government, put all our money in nationalised Northern Rock and put up two fingers to the banks and the EU. Instead, we'll all parott our free market-fairy brainwashing and be repeatedly raped by the financial elite.

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In return for Bail outs, it should be a CONDITION of the funds that everybody in the bank group concerned has a 50% wage cut and NO Bonuses, inability to deal their shares and options, for the duration of the Bail out.

That would focus a few minds and get things moving I think.

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Maybe this is an opportunity for a new kind of bank to emerge, one based on an ethical charter.

- No investments in exotic products

- ethical investments (whatever they may be)

- traditional banking

- No fat cat salaries/bonuses, minimal overheads (probably internet only)

Can we turn the clock back 20, 30, 40 years to create a bank as they used to be (ok I know we didn't have the internet option then).

Such a bank would definitely get my business.

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seymour,check out the co-op.I'd leave the ethical stuff alone because

a nothings really ethical

b they make naff all cash

Thank you. I believe that is exactly the kind of bank that could do well in this period.

The fact that that they make 'naff all cash' is seen by me as a positive.

Will I move my banking from NatWest to Coop? - I'm going to think about it after some research.

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Maybe this is an opportunity for a new kind of bank to emerge, one based on an ethical charter.

- No investments in exotic products

- ethical investments (whatever they may be)

- traditional banking

- No fat cat salaries/bonuses, minimal overheads (probably internet only)

Can we turn the clock back 20, 30, 40 years to create a bank as they used to be (ok I know we didn't have the internet option then).

Such a bank would definitely get my business.

This is what is needed, however this would only happen with heavy handed regulation which was removed back in the early 80's. The then tory govt had decided that banks were 'grown ups' and were in the best position to determine lending and risk etc, however within about 5 years we were in the biggest housing bubble ever after the biggest share market bubble since the 20's. I dont think this current government has even considered this as a realistic thing to do on account of falling House prices being something people will actualy vote them out for and certainly an incomming tory goverment wouldnt re-regulate the banks on account of their market 'religion' in fact they will go running to the leaders of the banking industry and ask them for advice. Unless of course we end up with hyperinflation then they might start to see reality.

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This is what is needed, however this would only happen with heavy handed regulation which was removed back in the early 80's. The then tory govt had decided that banks were 'grown ups' and were in the best position to determine lending and risk etc, however within about 5 years we were in the biggest housing bubble ever after the biggest share market bubble since the 20's. I dont think this current government has even considered this as a realistic thing to do on account of falling House prices being something people will actualy vote them out for and certainly an incomming tory goverment wouldnt re-regulate the banks on account of their market 'religion' in fact they will go running to the leaders of the banking industry and ask them for advice. Unless of course we end up with hyperinflation then they might start to see reality.

I don't think this requires heavy handed regulation, it just needs people to vote with their feet.

If sufficient numbers of people moved there accounts and investments to 'ethical banks' (for the want of a better name) then more banks might take up this new approach to banking. Actually I don't believe the big players have any hope of redemption they have seen too much profit from the past and rewarded themselves with huge bonuses for doing sweet FA. Nobody would trust a them given this past record.

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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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