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Newsnight

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newsnight.... rogue traders

When are they ever going to ask the real question: Rogue traders; do they exist?

I don't believe they exist myself but I wouldn't mind being one. They seem to be very popular and folks write books and make films about them.

If I had a boss who didn't know I'd stolen/traded billions of dollars from under his nose I'd be offski. My old boss used to breath his stinking garlic and wine breath on me from six inches even when I was just writing about how to lose money - never mind actually losing it.

The media are suckers.

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Guest Shedfish

to be fair the prog. so far has cut past a lot of the crap.. opening gambit was

"how close is the banking system to collapse"

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...and as soon as i said that it wandered off. i don't think the panel even know what the programme is about - i don't

sorry everyone, back to 'Ashes to Ashes'

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...that 'panel' was embarrasing -

i would not have been surprised if the camera panned out to reveal a gorilla on the table, and an elephant in the corner

(cut to Chris Morris, saying "a fact - alone and tumbling through infospace - only this can make it a news")

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When are they ever going to ask the real question: Rogue traders; do they exist?

I don't believe they exist myself but I wouldn't mind being one. They seem to be very popular and folks write books and make films about them.

If I had a boss who didn't know I'd stolen/traded billions of dollars from under his nose I'd be offski. My old boss used to breath his stinking garlic and wine breath on me from six inches even when I was just writing about how to lose money - never mind actually losing it.

The media are suckers.

...do you think Nick Leeson's bosses at Barings understood the process ....do you thinks they are the only bosses in banking who are a bit simple about the process...?.....get real ....the detail is not for top fat cats ..... <_<

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...that 'panel' was embarrasing -

i would not have been surprised if the camera panned out to reveal a gorilla on the table, and an elephant in the corner

(cut to Chris Morris, saying "a fact - alone and tumbling through infospace - only this can make it a news")

Absolutely, unbelievable lineup of witless tailors dummies on autocue, presenter desperately trying to poke them into some semblance of activity but to no avail.

I thought I did spot a grey pachyderm lurking off-shot as the camera panned round, but my eyesight is notoriously suspect...

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Absolutely, unbelievable lineup of witless tailors dummies on autocue, presenter desperately trying to poke them into some semblance of activity but to no avail.

I thought I did spot a grey pachyderm lurking off-shot as the camera panned round, but my eyesight is notoriously suspect...

...would you expect the producers of Newsnight to understand the process and communicate it.....no .....humpty dumpty would be a challenge for them..... <_<

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...would you expect the producers of Newsnight to understand the process and communicate it.....no .....humpty dumpty would be a challenge for them..... <_<

such a shame - the report started off jugular-bound at speed. maybe none of the people they wanted on would touch it with a stick, and they just had to go and drag a couple of random hedge fund boys out of some bar. we deserve more than this constant bullsh!t

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such a shame - the report started off jugular-bound at speed. maybe none of the people they wanted on would touch it with a stick, and they just had to go and drag a couple of random hedge fund boys out of some bar. we deserve more than this constant bullsh!t

...yeah even their great JP got his underpants assessment wrong ..as Which have just proved.....some advert for a pseudo programme.... <_<

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...do you think Nick Leeson's bosses at Barings understood the process ....do you thinks they are the only bosses in banking who are a bit simple about the process...?.....get real ....the detail is not for top fat cats ..... <_<

Nick Leeson was a simpleton. He became a 'rogue trader' in retrospect. He couldn't price options but he got to be popular when everyone decided he had meant it all - he only meant it much later when he was in trouble and started trying to average his positions. Barings were a special case. I worked at Barings during that time and I later interviewed (one of) the guys from ING who had previously tried to buy Barings and later got it for a quid. You have no need to instruct me on such things or on how 'real' I should get.

These situations are invariably drawn as clever people doing clever things; as if it's all planned. One of the twits on the panel (the lawyer) must have used the word 'clever' about nine times when they were discussing how a rumour can crush the system.

Each of these events/situations is different but it's a better story to claim that incredibly clever rogue traders are behind everything.

Spreading rumours is how the market works.

I find it beyond disgusting thet the FSA launch an immediate investigation into normal activites that seem abnormal to them because the context has changed.

The FSA should be investigating themselves. They should be investigating the instruments. They should be investigating the ratings agencies and the banks who encouraged fraud against themselves, but instead they pretend they're after clever rogue traders who spread a rumour.

It is preposterous.

I used to get people calling me with rumours every day. The trick is to use the ones with legs.

Our regulatory agencies and our central banking system are the cause of all this.

This is a regulatory crisis. Until they fix the regulations everything will deteriorate. As I barked a long time ago: We will see unprecedented volatility punctuated by periods of calm, during which nitwits will tell us the bottom is in sight.

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The authorities are trying to stem the PUBLIC knowledge of the true nature of the banking crisis.

If the sheeple realise what is happening, confidence in all banks will go.

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Iagree that the panel were a bunch of stuffed shirts but the intro to the feature was very interesting. The male reporter ( cant remember his name) was strolling around the city saying that the question of whether or not the UKs banking system was solvent was now being asked. Then had some old hand city boy who works for a company that invests in banks saying that the credit crunch was going to get worse and would last for years not months. When asked what he meant when he said it would get worse he hesitated ( like he really wanted to spill the beans then realised he shouldnt ) and then said enigmatically "you'll see" ... chilling.

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  • 292 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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