Friday, July 18, 2008
Darling considering fiscal reform
Darling said that more banks could be vulnerable to collapse. He said "The real problem we are facing today is a consequence of the fact that too many banks at a very senior level didn't understand the extent of the risk to which they had become exposed."
IMO: Ha-ha to "don't understand", the bastards are laughing and lining their pockets as anyone can see but PRESS ON MR. DARLING, and take strong measures to safeguard investors and others from the big banks and from the EU. Politics aside. This is NOT THE US BUT THE UK AND WE CAN STILL ACT HERE.
IMO: Northern Rock has gone now and whilst it has been effectively nationalised, the Govt seem to be trying to wind it down. The smaller B&B is in limbo and naturally, existing banks are loathe to cooperate except in their own interest. The FSA (often referred to as spineless) has not acted effectively and I would say were not empowered enough to take enough action to stop many evils like miss-selling and othe Bear-Stearns like tactics. This is partly the fault of the judiciary and the laws, but needs Govt action much more than the some of the provocative habeas-corpus breaching actions of the Govt in other directions does. This is difficult, but regular readers of papers like "Private Eye" will see that Brown's own off-balance sheet activities, perhaps regrettably necessary under New Labor, should not be allowed to set the scene for every Tom Dick and Harry like the large irresponsible international banking concerns. This strictly is not a socialist issue but a matter of common sense which should concern us all, and we should not allow the troughies in Westminster, and far worse the troughies in the EU to set the scene. The EU (as was recently exposed specifically in Bulgaria) are apparently often not simply troughies but out and out crooks. That is simply to say that the EU should be cleaned up and we should not be forced by nincompoops to suffer from its excesses. Maybe more later.
Darling said that more banks could be vulnerable to collapse. He said "The real problem we are facing today is a consequence of the fact that too many banks at a very senior level didn't understand the extent of the risk to which they had become exposed."
IMO: Ha-ha to "don't understand", the bastards are laughing and lining their pockets as anyone can see but PRESS ON MR. DARLING, and take strong measures to safeguard investors and others from the big banks and from the EU. Politics aside. This is NOT THE US BUT THE UK AND WE CAN STILL ACT HERE.
IMO: Northern Rock has gone now and whilst it has been effectively nationalised, the Govt seem to be trying to wind it down. The smaller B&B is in limbo and naturally, existing banks are loathe to cooperate except in their own interest. The FSA (often referred to as spineless) has not acted effectively and I would say were not empowered enough to take enough action to stop many evils like miss-selling and othe Bear-Stearns like tactics. This is partly the fault of the judiciary and the laws, but needs Govt action much more than the some of the provocative habeas-corpus breaching actions of the Govt in other directions does. This is difficult, but regular readers of papers like "Private Eye" will see that Brown's own off-balance sheet activities, perhaps regrettably necessary under New Labor, should not be allowed to set the scene for every Tom Dick and Harry like the large irresponsible international banking concerns. This strictly is not a socialist issue but a matter of common sense which should concern us all, and we should not allow the troughies in Westminster, and far worse the troughies in the EU to set the scene. The EU (as was recently exposed specifically in Bulgaria) are apparently often not simply troughies but out and out crooks. That is simply to say that the EU should be cleaned up and we should not be forced by nincompoops to suffer from its excesses. Maybe more later.
# posted by uv : 10:21 PM
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