Tuesday, Jul 04, 2006

It's all the fault of the glubberment

Guardian: Lloyd's names seek 1bn compensation from government

The mega rich are blaming the governments lack of regulation of Lloyds for their losses. Can you imagine the fallout if the millions of brits in massive debt got together and made the same accusation? Absolutely nothing, because the people in debt are poor, and the Lloyds names are bred to have money and power, bless them.

Posted by inbreda @ 08:40 AM (513 views)
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1. George Monsoon said...

Hmm..now who will foot the bill if Lloyds are forced to pay out?

Tuesday, July 4, 2006 09:41AM Report Comment

2. Retiredbanker said...

Just listen to the outraged protests whenever the authorities propose intoducing some regulation of "free-market"

When things go wrong however, it seems that these free-wheeling entrepreneurs suddenly seem to think that the
Government should have protected them, and must now compensate them with tax-payers money.

"Privatise the profits, socialise the risks" as the Americans often say.

Nice work if you can get it!

Tuesday, July 4, 2006 03:49PM Report Comment

3. uncle chris said...

Sorry, I've no sympathy for the Lloyds 'Names'. They were turning a tidy profit for many years before the crunch and they knew the risks. Looks like they still have plenty of money to waste on costly legal battles. Farnkly, I don't see much concern about them from ordinary folk who are more worried about baliffs banging on their door and taking their homes away.

Tuesday, July 4, 2006 05:51PM Report Comment

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