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wrightjohn

Listed below are comments made by wrightjohn between Monday, 21st July 2008 and Friday, 16th October 2009.

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Pause for thought 2:33pm on 16 Oct 2009 What worries me is the exposure of the British banks effectively owned by the British Government to the refinancing of this debt and also to the toxic stuff. The losses will have to be added to national debt as we are currently in deficit and will add to the balloon. The credit crunch has been hidden rather than solved. Who else can the banks turn to?

Can any indication be given of the liabilities we are facing or are they simply open ended? Who will fund this second wave of the banking crisis?
Banks should be boring 10:19pm on 13 Oct 2008 What shall we do?

Retrospectively ban the C D S dealings and anything in the unregulated area.

Open GOLDLINK, a government owned bank deposit backed by whats left of the gold reserves so it is trusted. The money flows in a circle from private to Goldlink back to private.

Divorce Treasury from private bank liabilty,although I cannot see how.

Put money into key areas of designated business that must survive ; probably small and medium businesses based on cost effectiveness.

Sleep well, Robert.
Momentous Monday 9:46pm on 13 Oct 2008 Do you play chess Robert?

The treasury part own the banks and are liable for their debts.
Amongst others, thecredit default swaps.

Checkmate.
Smack smack - we're dead 2:16pm on 02 Oct 2008 To hault the death spiral make the credit default swaps retrospectively illegal. STOP ANY PAYOUTS. GOVERNMENTS CAN DO WHAT THEY WANT. IF THEY THREATEN TO BRING DOWN THE SYSTEM THEY ARE ILLICIT.DO IT NOW
B&B collapse to cost City £9bn 1:13pm on 29 Sep 2008 Looking at the total picture would it help or hinder to make credit default insurance void? It should never have been allowed and is fraudulent and therefore illegal. The debt we might handle, the payouts....
RBS takes silver medal 12:11pm on 08 Aug 2008 Sitting at home last year with half an ear on the news I could tell the A B N takeover was a step too far. That was before I knew it was riddled with subprime exposure, which has added greatly to R B S losses. If I had walked in on the board meeting and said don't do it I would have been laughed at, because obviously I know nothing about complicated financial instruments. Simple business common sense appears to have been thrown out of the window along with the banks assets with the people who made those decisions shouldering no responsibility. Immediate resignation by anyone supporting that takeover would be a step, because they should have been able to foresee the downside of the credit cycle and the poisoned sub prime units. Or shall we just forget about it as usual. Exactly wnhat does it take to bring a bank down, these days? This makes Nick Leeson look like an amateur.
HBOS humbled 2:59pm on 21 Jul 2008 Check out Merryll Lynch, Citigroup and many other major bank results and wonder ye in amazement at the multibilllion dollar hits they are taking. All avenues of support such as the Far East, reserves and loans are slowly being exhausted and now the desperate measure of raising funds by rights issue is beginning to fail because surprisingly investors refuse to buy shares at a premium to the market. Only asset sales remain and if a large majority of institutions are dumping subsiduaries and shares in a fire sale there is only one way values can go. The government has its fingers in the dam but there is only so much support that can be given. Praise be that there are some souls out there willing to buy... but not with their own money, obviously. Please could someone give me an upside to this..quickly?

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