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dontmakeawave

Listed below are comments made by dontmakeawave between Monday, 2nd November 2009 and Monday, 7th December 2009 (11 Hours Ago) .

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A bonus super-tax 10:00am on 07 Dec 2009 Robert, I realise we have to respond to your article but are we not in a phoney period before the next election. The Government are raising the ante against the Bankers because it suits their purpose. Shame we all cry "Tax them to the hilt for the harm they've done". Rubbish. Look behind the posturing and rhetoric of this discredited Government and you see a shameful (political) positioning of "it wasn't us, it was the Bankers and the USA". Taxing the bonuses is a tactic of diversion. Sure the Bankers took undue risks but they were allowed to because the Government were gleeful of all the tax revenues the Bankers paid and took no heed of their duty of oversight.
RBS board to quit if chancellor vetoes £1.5bn in bonuses 09:53am on 03 Dec 2009 Reading the blogs relating to this article the Clown/Darling axis have won! "It's all the Bankers fault!". No it isn't, the sitting Government played a big role in our problems - let's get a balance. I'd love a payout of a million quid each year - probably more than my lifetime earnings - but 40% goes in taxes. Say RBS makes £4.5 million in profit - that goes to shoring up this shredded bank. So we don't necessarily lose. If we chase these egregious employees and cause them to go to Cuckoo Clock land, the Gnomes of Zurich win. I'd rather have the greedy Bankers this side of the channel paying taxes here. So if you want UK plc to be poorer, chase the Investment Bankers away. Daft I call it!
Shouldn't banks work for us? 11:52am on 02 Dec 2009 "the owners of our banks did nothing to prevent them from taking excessive risks"
Robert, I agree that the Banks failed to control their business (except Lloyds until they were nudged into taking over HBOS) but we did have an overarching authority, the FSA, who should have questioned the business practices in our banking system. The problems in Banking will not be solved just by slapping the wrists of Bankers, calling them naughty and encouraging transparency in bonuses. We need a return to a proper regulatory oversight with one authority monitoring the Banking Sector, using more forensic tools to give insight into risky practices.
Why did Bank of England keep shtoom? 3:03pm on 25 Nov 2009 Ignoring the Shred's Bank, having read all the blogs and the article, I am still somewhat bemused as to why Lloyds took over HBOS. Even if the shareholders didn't know of the large loan to tide HBOS over, the Lloyds Board must have known. Even if their due diligence on HBOS was a bit flakey, surely the large elephant of a loan must have aroused some suspicion that all was not well? If memory serves me Lloyds toned down their offer for HBOS during the run in to takeover the bank. So why did they take it over?
Why did Bank of England keep shtoom? 9:10pm on 24 Nov 2009 Robert it would be useful to know the timeline of all this. Two events impacted many investors. One was the rights issue from HBOS. The second was the takeover of HBOS by Lloyds. At a glance this secrecy of support seems mighty close to these two events. That indicates that investors may have allegedly been misled by this secrecy.
Tough times ahead 10:37pm on 16 Nov 2009 "In the Budget, the chancellor forecast a public deficit of £175bn in 2009-10".
- Houston, we have a problem was a famous phrase from the Space Race. It is no good saying stuff the Bankers, stuff the rich, keep shelling out benefits, don't reduce the Public Sector costs because something has to be done about Government spending. Get real! Regardless of whose fault it was (I have my views) we need to get out of the massive borrowing hole we've dug and are still digging. If you don't want to be taxed to the eyebrows, the Government have got to rein in spending. All parties are in denial because it's going to be savage - probably worse than clearing up the mess left by Callaghan etc in the late seventies. The solution then as now is to cut back the Public Sector otherwise Sterling will go down the plughole and we might as well call ourselves Mugabeland and start producing wheel barrows to cart around trillion sterling notes to buy a loaf of bread! Every month we delay we go £15 billion more into debt!!!!!!!!!
New name for a new economy? 10:34pm on 13 Nov 2009 Do we need a new name for the kind of economy we live in today?

Tripartite myopic Brownian motion economics or Government overspending!

- work it out.
Boxed in 7:49pm on 05 Nov 2009 Stephanie my head hurts. We seem to be creating a virtuous circle of printing money so that Government borrowing can be maintained and the banks can make obscene profits from cheap money. When exactly do we get off this La-La Land playground and get on with the business of addressing the real economic issue, which is that Government spending in Prudenceville is way out of kilter with the ability of the economy to absorb it? Some time soon the Government have to take the medicine to stop us drifting into a Mugabe like utopia, where a cup of C*sta coffee costs a million quid. As to asset bubbles caused by QE the evidence is accumulating. Where I live house prices are back to 2007 levels.
RBS and Lloyds re-made by Europe 09:43am on 03 Nov 2009 Ms. Kroes I presume is Dutch. RBS in their infinite wisdom, thanks to Fred the Shred bought ABN Amro, which is also Dutch and full of more toxic assets than my stomach after a Doner Kebab. Rather than shredding Fred's old stomping ground, she should be rewarding RBS for bailing out the Dutch Banking system - shouldn't she? There is no justice in the world except I foolishly didn't buy shares in RBS - hooray!
Why was David Nutt sacked? 09:10am on 02 Nov 2009 From what I gather, Professor Nutt has been propounding his views on relative risk for at least two years. Suddenly he is sacked. Why? Could it be his views are inconvenient in an election year with an already allegedly unpopular Government?

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