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laughingblacksheep

Listed below are comments made by laughingblacksheep between Monday, 13th April 2009 and Thursday, 7th May 2009.

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Not so stressed 8:54pm on 07 May 2009 This message was brought to you by HM Treasury and I Gordon Brown endorse it. I see we are still publishing mindlessly HMT press releases.... Why doesn't the BBC just link to the HMT website and save a salary and pension cost
Barclays' painful deal 11:07pm on 13 Apr 2009 Sagamix, the rest of the world ISN'T in the same doo doo. Guess where the unit of AIG that wrote all the CDSes was based? The division of Bear Stearns? Citigroup? Where most of the "shadow banking" world is based? Where Credit derivatives were invented? Where the unit of UBS that lost all that money was based? I give you a clue it is ALL in one country.

Other countries are NOT in the same "doo doo" as the UK. That is purely and simply a lie that Brown is trying to palm off onto you. I always wondered who was simply that dumb to believe him but I guess now I have met them. The UK will have the worst deficit of any developed country with the exception of the US - who in case you didn't notice fought two very expensive wars the UK made an insignificant contribution to. It has the quickest rising debt level, it has the highest personal debt level of any country, it is raising - or rather trying to raise - more debt than in its history. EVERY SINGLE independent analyst expects the UK to be the last to come out of recession and to have a deeper and longer recession than anyone else. Thanks to Mr Brown under the most optimistic scenario, you are going to be paying thousands of pounds extra in tax - which with the exception of the US no one else is going to.

But hey why bother with facts when you can parrot the same crap over and over?
Barclays' painful deal 10:57pm on 13 Apr 2009 #243, are you armagediontimes and sagamix holding a shaved chimp convention? FSA has a register of all investment bankers and you can get struck off it and you need to pass an exam to get on it. Guess someone thought of your brilliant idea several decades ago!!
Barclays' painful deal 10:54pm on 13 Apr 2009 MrSupergeek, care to do a quick calculation showing exactly how all the bailouts come to 3 trillion GBP? Throw in interest too. Remember the 3 trillion is a LOW-end estimate.

One of the basic requirements for earning those millions is basic numeracy. If you can't count - and judging by what you and sagamix are claiming neither of you can - then it you'll find the job a little tough....
Barclays' painful deal 10:50pm on 13 Apr 2009 #236, armagediontimes methinks kettle and pot. How the hell has the US committed 13 trillion USD? A microsecond's thought would show this cannot even be in the ballpark as US GDP is around that amount.

PFI profits would be at best in the 100s of billions not trillions and i am afraid you are sorely mislead about where money gets spent in the public sector. Less than 1 in 6 public "servants" are doctors, nurses, firemen, teachers, policemen. So around 500billion would be the contribution to them. Lets net that off - still 2.5trillion GBP of worthless public sector spend. Lets assume that every single guarantee the government gives is monetized and every single share it owns becomes worth zero. That is still comfortably 1+ trillion contribution to the economy. I guess you missed out on the fantastic new education that GB splurge apparently paid for.
Barclays' painful deal 10:41pm on 13 Apr 2009 #235, well we can't all aspire to your razor sharp insight into investment banking. Needless to say your example was simply not how the world of banking works:

1) To make the investment of 85million the trader needs to borrow that money either internally or externally. This is a risk adjusted cost.
2) He will then get renumerated based on a risk weighted return. In your example he will probably not get much credit for the increase as it would have to be a "risky" bond.
3) Finally he would not get 5% of the "profit".

and so on and so on. Guess when moaning about the "bonus culture" it helps to not have a clue about how banking actually works. Then pesky facts can't get in your way.
Barclays' painful deal 3:33pm on 13 Apr 2009 #220, there have been two bubbles under Brown. Have a look at the FTSE.

The point is that he spent like crazy and now there is no money left. Lets do a deal - why don't you return the 3 trillion out of the 6 trillion spent on public sector that the finance sector contributed and then we'll return the few hundred billion LENT to the banking sector. Sound good?
Barclays' painful deal 3:27pm on 13 Apr 2009 #227, Crash happened because there was an artificially low interest rate and because there was a property bubble. Both are due to GB. End of story.
Barclays' painful deal 3:25pm on 13 Apr 2009 #212, how simple... almost as simple as i suspect you are. Pity this isn't how it works in the real world.
Barclays' painful deal 07:18am on 13 Apr 2009 #200, the behaviour of the banks is to retrench and rebuild their tattered balance sheets - aka credit crunch. The behaviour of the government is to try and force the banks to lend at bubble rates in the middle of a crash. You think that even short-term that is a good or bad idea? If lending when prices are going up was "stupid" and "obvious", does lending when prices are crashing make sense?

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