eric pebble Posted October 2, 2008 Share Posted October 2, 2008 Irony Eric, I was jesting.Blair landing a nice 500k+ job at JPMorgan Teflon Terry former BoE official now multimillionaire after running various banks since retiring from the BoE, can't remember his more senior mates name but he left for the banking world and ended up some very nicely paid jobs. Yup -- Blair - JP Morgan - they survived......... Mmm................... Quote Link to comment Share on other sites More sharing options...
mrpleasant Posted October 2, 2008 Share Posted October 2, 2008 "This scheme will only work while house prices rise." Not only that, but when they go into reverse the results are CATASTROPHIC. Cue Biblical wailing and gnashing of teeth. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted October 2, 2008 Share Posted October 2, 2008 (edited) "This scheme will only work while house prices rise." Not only that, but when they go into reverse the results are CATASTROPHIC. Cue Biblical wailing and gnashing of teeth. My teeth don't gnash!? Bet Gnasher's do though -- him what Dennis has as a dog...... Edited October 2, 2008 by eric pebble Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted October 2, 2008 Share Posted October 2, 2008 http://www.guardian.co.uk/society/2004/apr...ervicesawards10 Lord Burns (aka Teflon Terry) has been the chairman of Abbey National since 2002 Not sure when he left. And what's happened to the Abbey? Quote Link to comment Share on other sites More sharing options...
General Melchett Posted October 2, 2008 Share Posted October 2, 2008 Indeed, the trutch has now been printed in a mainstream newspaper. Now watch everyone ignore it, just like it was the slightly-too-tipsy guest at a dinner party who has criticised the hostess and all the other guests just a little bit too honestly. Quote Link to comment Share on other sites More sharing options...
meow Posted October 2, 2008 Share Posted October 2, 2008 (edited) Holy effing jeebus, you mean lending irresponsibly for a decade has caused this mess?!?!?!? I mean... this is terrible... TERRIBLE!!!!! WHY WEREN'T WE TOLD, WHY WEREN'T WE TOLD!?!?!?!! DAMN YOU, DAMN YOU ALL TO HEEEELLLLL!!!! (Could the guy writing the article have been any slower with his observation?) Edited October 2, 2008 by meow Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted October 2, 2008 Share Posted October 2, 2008 http://ifabonus.co.uk/News/Lords.doc Lord Kingsdown formerly Robin Leigh-Pemberton of BoEDirector, University Life Assurance Society 1967-78; Director, Equitable Life Assurance Society 1979-83; Non-Executive Director: Hambros plc 1993-98, Foreign and Colonial Investment Trust 1993-98 Lord Lamont of Lerwick formerly Norman Lamont, Conservative Chancellor of the Exchequer NM Rothschild and Sons Ltd 1968-79, 1993-95, Adviser: Rotch Property Group Ltd 2001-, Merchant Bridge plc 2004-, Chairman: Director: Rothschild Asset Management 1978-79, NM Rothschild and Sons 1993-95, Jupiter European Investment Trust 1994-2000, Cie International de Participations Bancaires et Financieres 1999-, Banca Commerciala Robank 2000-, Aberdeen European Growth and Income Trust 2000-, Jupiter Finance and Income Trust 2000-, Scottish Re 2002-, RAB Capital 2004- Lord Lawson of Blaby formerly Nigel Lawson, Chair, Central Europe Trust (CET) 1990-; Director, Barclays Bank plc 1990-98 http://www.independent.co.uk/news/business...ton-862071.html Sir Robin Leigh-Pemberton, was a City grandee who acted as chairman of NatWest, before being appointed Governor of the Bank of England in 1983. He held the post for a decade, and was made a life peer as Baron Kingsdown of Pemberton. http://business.timesonline.co.uk/tol/busi...icle2825258.ece Robert (Robin) Leigh-Pemberton, 1983 - 1993Was questioned in 2004 over the handling of the Bank of Credit and Commerce International (BCCI) affair, for which the Bank refused to take responsibility. He was previously Chairman of the National Westminster Bank. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted October 2, 2008 Share Posted October 2, 2008 http://en.wikipedia.org/wiki/Terence_Burns,_Baron_Burns Terence (Terry) Burns, Baron Burns, GCB (born 13 March 1944) is a British economist. He is currently Chairman of Abbey National plc, Chairman of Marks and Spencer Group plc, Non-Executive Chairman of Glas Cymru, a Non-Executive Director of Banco Santander, S.A., and a Non-Executive Director of Pearson Group plc. He was made a life peer in 1998, and is a former Chief Economic Advisor and Permanent Secretary to HM Treasury. He is also President of The National Institute of Economic and Social Research, President of the Society of Business Economists, Chairman of the Governing Body of the Royal Academy of Music, and Chairman of the Monteverdi Choir and Orchestra. Quote Link to comment Share on other sites More sharing options...
Austin Allegro Posted October 2, 2008 Share Posted October 2, 2008 I was enjoying it and was surprised at the Guardian having such a good article until I got to this bit: It falls to the trade union and broader working-class movement to generate alternatives What alternatives are those exactly? Wearing donkey jackets and standing round a brazier all day? Quote Link to comment Share on other sites More sharing options...
meow Posted October 2, 2008 Share Posted October 2, 2008 What alternatives are those exactly? Wearing donkey jackets and standing round a brazier all day? They could all stand around blaming thatcher 'till the cows come home? That seems to be what most of the left do... Good luck to them. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted October 2, 2008 Share Posted October 2, 2008 They could all stand around blaming thatcher 'till the cows come home? That seems to be what most of the left do...Good luck to them. I'm not on the left or the right, I blame everyone including that twit Thatcher. Quote Link to comment Share on other sites More sharing options...
bootfair Posted October 2, 2008 Share Posted October 2, 2008 (edited) IMO the whole idea of the Global Village was a con... What a nice cosy term... We were surely better off when we had real villages, and people had their own employment - eg having their own bakery/shop rather than working in Tesco's... Im naive, but i don't see how all this global "wealth creation" has actually benefited ordinary people, who are now mostly just wage slaves... Edited October 2, 2008 by bootfair Quote Link to comment Share on other sites More sharing options...
eric pebble Posted October 2, 2008 Share Posted October 2, 2008 (edited) I was enjoying it and was surprised at the Guardian having such a good article until I got to this bit:It falls to the trade union and broader working-class movement to generate alternatives What alternatives are those exactly? Wearing donkey jackets and standing round a brazier all day? Edited October 2, 2008 by eric pebble Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 2, 2008 Share Posted October 2, 2008 "It falls to the trade union and broader working-class movement to generate alternatives. Most immediately, unwinding the unsustainable levels of household debt that led to the crisis requires significant improvements in real income distribution. More broadly, public provision of quality housing, education, healthcare and retirement benefits needs to replace provision through capital markets. Achieving these demands will not only help reclaim terrain and wealth lost by ordinary people, but also help put back on the agenda the idea that conscious and democratic economic management is the only way to secure equitable prosperity and growth for all."It's nice to see an article in the mainstream press admit this at last BUT I can't be having this last paragraph!! Labour helped create the problem,now they want them to solve it aswell!! Un-real!!!! :angry: hear hear, they said, by their social meddling, that a bubble was not possible. Now they blame it on the very free market system they corrupted with daft regulation holding interest rates artificially low and encouraging opaque debt-vehicle trading. nice. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 2, 2008 Share Posted October 2, 2008 IMO the whole idea of the Global Village was a con...What a nice cosy term... We were surely better off when we had real villages, and people had their own employment - eg having their own bakery/shop rather than working in Tesco's... Im naive, but i don't see how all this global "wealth creation" has actually benefited ordinary people, who are now mostly just wage slaves... it's just expanding the division of labour. Even a (relative) leftie economist like Stiglitz favuors this, with caveats and corrections. To oppose it so simply is intellectually lazy, as, for that matter, was the conclusion of the guardian article. Quote Link to comment Share on other sites More sharing options...
bootfair Posted October 2, 2008 Share Posted October 2, 2008 it's just expanding the division of labour. Even a (relative) leftie economist like Stiglitz favuors this, with caveats and corrections. To oppose it so simply is intellectually lazy, as, for that matter, was the conclusion of the guardian article. To be honest, yes, intellectually lazy is probably right, I wont pretend to know anything about economics.... Im learning a bit here though, i hope. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted October 2, 2008 Share Posted October 2, 2008 (edited) To be honest, yes, intellectually lazy is probably right, I wont pretend to know anything about economics.... Im learning a bit here though, i hope. One thing you want to learn here bootfair is this: The Vested Interests WANTED to and succeeed in making a killing by; 1 - Hyping up property "prices" ad nauseum so that they could buy and sell continually whilst hyping up property as an "investment" and getting ordinary punters to buy "in" to the scam telling them it was a sure bet to MAKE "MONEY"; hence the ENDLESS & INANE "Property" tv programmes pushing and ramping property... - which made any vaguely sentient human being want to vomit instantly, but which, unfirtunately were lapped up by vast flocks of sheepie... 2 - CRUCIALLY - the Vested Interests saw to it that they would provide the "money" to anyone whose breath steamed up a mirror - so that they could join in the "fun" i.e. Jump on the "Ladder" - and become [presumably unknowingly] part of the Pyramid Selling Scam.. SO - they "PROVIDED" the "MONEY" for this by simply chucking it at them in the form of "LOANS" or "MORTGAGES": BUT THESE WERE UTTERLY FRAUDULENT. It was deeply cynical. The guys "lending" them this "money" were simply nicking it from wherever they could get their hands on it - or - just CREATING it out of thin air by putting together "Loan Agreements" which instantly enslaved all who signed them..... This was all done - nudge nudge, wink wink, by urging people that it was perfectly "OK" for them to stick their "incomes" on the Mortgage/Loan Application Forms as £60k -- when IN FACT their income was nearer £18k pa.............. THIS BECAME THE LARGEST FRAUD & PYRAMID SELLING SCAM OF ALL TIME - MASQUERADING AS THE "HOUSING MARKET" -- And the people who perpetrated AND "sold" these LIAR LOANS didn't give a sh*t -- because they took their "commisions" on the transactions, & "sold" the dud "mortages" to average Jo Punter Bankers who were suckered into thinking they were "OK" -- and the perpetrators bug*ered off into the sunset with their MASSIVE ill gotten gains.... [commisions].... So -- TODAY -- We are left with institutions/"banks" etc etc, left picking up what's left - i.e. the DUD Loans - worth NOTHING.... It all comes to TRILLIONS & TRILIONS & TRILIONS OF £'s and $'s................... They call it the "CREDIT CRUNCH" -- When in fact it is THE LARGEST FRAUD & PYRAMID SELLING SCAM OF ALL TIME - WHICH MASQUERADED AS THE "HOUSING MARKET" ...... * * * * Edited October 2, 2008 by eric pebble Quote Link to comment Share on other sites More sharing options...
eric pebble Posted October 3, 2008 Share Posted October 3, 2008 Oh well.......... Quote Link to comment Share on other sites More sharing options...
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