Monday, April 14, 2008

Vince Cable Video – Speaking common sense?

Banks to be 'held responsible'

4 minute long video. VC speaking common sense, rather odd considering he is a politician.

Posted by geed @ 03:52 PM (643 views)
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9 thoughts on “Vince Cable Video – Speaking common sense?

  • northern bear says:

    This guy is the only politician I have ever heard talking sense about the economy. Shame he will never be chancellor.

    Reply
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  • Of course he can’t be Chancellor – he’s the former chief economist at Shell and has a Phd in economics..

    And he went to Cambridge – that totally rules him out..

    ..can’t possibly have an expert doing the job – has to be a lawyer or someone with a degree in politics..(preferably Scottish)

    – Just think where we’d be if the chancellor could add up!

    You’ll be asking for a catholic Pope next!

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  • If he can say ‘Prudence’ in a Scottish accent he might stand a chance.

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  • Interestingly, there is a way of making banks more responsible for their lending – if we had the same system as in the US, mortgage defaulters would be able to ost back the keys and walk away from the mortgage.

    That would soon make the banks think twice before over stretching their customers.

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  • “That would soon make the banks think twice before over stretching their customers.” @paul

    ……didn’t seem to work in the USofA.

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  • As long as central banks will bail these guys out it’s a one way bet – they’d be mad not to take it. Too big to fail.

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  • planning4acrash says:

    He could be the chancellor in a hung parliament.

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  • planning4acrash says:

    Bystander, you forget that bankers lent more recklessly here, that our bubble is bigger and that losses are being revealed earlier over there. The dollar will rise once more before Sterling stops falling, IMHO.

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  • it_is_going_with_a_bang says:

    I think 12 Years is too long for Bank to hold anyone by the B4lls for debt.
    The debt should be removed as though you were bankrupt.
    The only limitation should be on the credit you can get. That should be limited to 5 years or so.
    Why make such a ‘special’ case of mortgages. I can see no special reason for a ‘difference’.

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