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Wellcaught

Listed below are comments made by Wellcaught between Monday, 9th March 2009 and Tuesday, 1st December 2009 (14 Hours Ago) .

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Appetite for fat cat taxes? 10:11pm on 01 Dec 2009 182 Foredeckdave

Can I ask you first to read my post carefully.

Secondly it might be worth considering why we are in such an almighty mess. In my view it is as a result of profligate and foolish politicians wasting money in the manner of the Roman Emperors; rather than encouraging investment in projects that will produce returns capable of repaying our debts.
Appetite for fat cat taxes? 5:28pm on 01 Dec 2009 I have three points I would like to make
1)What logic is there in taxing people with valuable houses and not taxing those with valuable share portfolios
2)Why is it morally acceptable to tax someone with a valuable house when a large amount of that value has been generated by the state (who is doing the taxing) devaluing the currency in which the value of the house is measured.
3)Whilst I accept the obligation to pay taxes for the reasonable functions of the state; I do not accept an obligation to pay for the excesses of a bunch of juveniles let loose in a sweet factory.
This government and a lot of previous governments have discovered the delights of putting their hands into the pot, pulling out lots of "other peoples money" and throwing it around to buy popularity and votes.
I see no reason why I should pay for such excesses
Why men are to blame for the crunch 5:22pm on 30 Jul 2009 You are missing one important point.
Men acquire money in order to attract women (mostly)
It's all down to sex you see
Parliament's reputation brought low 07:49am on 10 May 2009 Clearly the Labour party is now dead.
Parliament as a whole is seriously wounded.
323 has given us an appropriate quote.
However we have no Cromwell and we probably would not like him if we had.
Does the Crown have any power left at all?I for one would like to see it use it.
The real problem is the way we select our MPs and the power we give each Party in that process
Couple this with the patronage that the Party leaders have at their disposal and the MP belongs,with one or two honourable exceptions,to the party leadership
The result is very little different from the Rotten Boroughs of the 19th century where the local aristocrat had the gift of the local parliamentary seat.
We need a new way of selection for OUR representatives.
I favour local primaries for the candidates but the time has come to have a debate on the answer and then ask the Crown to find a way of implementing it.
Cleaning up bankers' mess 10:30pm on 02 May 2009 I am old enough to remember when every town of any size had it's own building society.

They were run by local worthies, lent money to local people to buy houses and provided a home for local savings that gave a better rate of interest than the banks.

They knew their properties and they knew their borrowers,you met their directors walking down the street,they rarely made mistakes.

If you wanted a mortgage in the future you did best if you were a depositor from an early age.

The state decided that they needed much closer regulation and put rules in place to control them more closely.

The resulting burden of regulation meant that the part time nature of their management could not cope and the business model was no longer functional.

They merged and were taken over until they became the large societies that we have today

These entities got ideas above their station and a number of them got into difficulty. Northern Rock,Cheshire and Dunfermline followed.

Much better if the state had let the local community look after it's local institutions instead of interfering and wrecking the model.

Local and small is beautifull
Don't believe the hype 07:29am on 02 Apr 2009 I have a small service business that turns over £6M or so and a farm.
I am fortunate enough to have a reasonable cash pile and I have been trying to work out what to do with it; given that the stock market seems to be full of Elephant traps and the banks are either unsafe or not paying any interest worth talking about.
My conclusion, if replicated by other small businesses, may be encouraging or it may encourage you to say "what an idiot".
1)I will pay off my mortgage as the interest I am paying is several times the interest I get from the bank.
2)I am going to invest in some machinery that will save my customers a significant amount of their costs as long as they will give me a contract for a reasonable period.
3)I am going to invest in a grain store for the farm as this will reduce my production costs by far more than the loss of interest in the money and increase the relative value of the farm.
I have been encouraged by the low value of money to spend it; and have discovered that if I can save my customers money they will bite my hand off.
I suppose the purpose of this post is to say that as a holder of capital I have decided that money is worthless and I am better off spending it on things that have value.
You may say that if I only wait I will get these things for less, and you may be right, but I am going ahead anyway.
Green Shoots!
Smith thought she'd be cleared 08:10am on 31 Mar 2009 The solution to the problem of MP's "sleaze", as well as a number of other issues surrounding the duty of MPs, is to have them chosen by their constituents rather than by the party machine
In this way they would need to demonstrate that their actions, in and out of the House, were in their constituents interests rather than their own or that of the party.
We might even start to get democracy back.
Local primaries for candidate selection are a good way of achieving this and will ensure that the party whip is less feared than local opinion.
FSA say 'more capital, less risk' 10:22pm on 18 Mar 2009 The simplest answer is to reinstate the rule where deposit taking banks could not indulge in all the clever things that merchant banks did.They could only take deposits and lend money against normal boring things. Then depositors money was safe from wild speculation.
The madder merchant banks could go bust if they behaved stupidly and no one but their shareholders and those of a gambling nature would suffer,the rest of us could let them do that in peace.
The problem was simply that we allowed those who looked after our hard earned cash to become casino operators
Will Lloyds' chiefs resign? 12:01pm on 10 Mar 2009 158 Batmasterton

I agree
Iagree
Iagree
Will Lloyds' chiefs resign? 11:08pm on 09 Mar 2009 It is pretty clear to me that Blank must have had his arm seriously twisted to prevent what was probably seen as the collapse of British banking at the time.

Cue resignation and peerage.

Undoubtedly the Lloyds TSB shareholders have not only saved the governments bacon but presented them with a pot of cash represented by the difference between the pre and post deal share price.

It seems to me that the shareholders have the ability ,if they wish, to sue the Lloyds board and it's auditors for failure to do proper due diligence.

No need to have a vote to do that just a nice big class action. Given the loss to pensions,whuich must be horrible, it does not seem an unreasonable course of action. Who knows who else may be caught in the net.

It seems odd to me that HMG were not more gentle with the Lloyds shareholders given the service they were forced to perform.

One might call it the Rape of Lucre!!

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