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Ikantbelieveit

Listed below are comments made by Ikantbelieveit between Tuesday, 3rd February 2009 and Monday, 20th July 2009.

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Tory plan to sanitise banks 5:22pm on 20 Jul 2009 This was my comment from the last debate about the FSA.

Bankers more confused
08:08am on 09 Jul 2009
[55. At 08:08am on 09 Jul 2009, Ikantbelieveit wrote:
This all sounds like change for change sake.
It will cost us millions to dismantle the FSA and create a new body that will have the same people running it. I haven't got a solution but "better the devil you know" comes to mind.]

My call to all political parties.. Dont dismantle the FSA! It'll be a waste of our money, just put people in charge of the FSA that have crystal clear objectives and authority to fine the banks and then name and shame them when they get out of line.
Bankers more confused 08:08am on 09 Jul 2009 This all sounds like change for change sake.
It will cost us millions to dismantle the FSA and create a new body that will have the same people running it. I haven't got a solution but "better the devil you know" comes to mind.
Bank of England wins victory - but for what? 5:15pm on 06 Jul 2009 We obviously need further regulation and I'm not sure if Mervyn's idea is the right onen (it could be).

But any regulation that cannot be understood by the general public is obviously too complex and likely to be abused.

For everyone's sake lets hope they just make it simple so everyone can understand it, and if it all goes Pete Tong we'll know who to blame.
Treasury wants to cut pensions tax break 5:16pm on 20 Apr 2009 Either we all get paid exactly the same amount of money regardless of what your job is, or, we just accept that some people will get a higher wage and are taxed more for the priviledge.

What is fair? I would say if the government wants to raise additional tax revenue then everyone's tax burden should be increased proportionally to what they pay at the moment?
Treasury wants to cut pensions tax break 12:33pm on 20 Apr 2009 #13 & #33

spot on...
We are the monolines now 1:47pm on 23 Mar 2009 So finally we get to the end game... The Credit Rating Agencies are the Evil ones.

If they had valued properly, then it's likely that the originating banks that packaged the tranches of CDO's would not have been able to sell them on to other banks due to the lower rating and higher risk they posed.

We should Nationalise the Credit Rating Agencies, they should not be private companies as there is an obvious conflict of interest.
Rock blew whistle on economic flop 2:07pm on 20 Mar 2009 I'm fed up with all this credit crunch stuff...

I suggest we have a regulator that regulates the regulators... ohh stupid me that's the government's job isn't it.. LOL

I have a simple answer to all this... based on the following..

1) We all owe the banks money
2) All the banks owe the goverment money
3) The government have used our cash to save the banks

Therefore the answer is: Lets just call it quits and start again..

"Show Me The Money"
Time to hug a banker? 5:16pm on 17 Mar 2009 Bob,

I don't think it's appropriate time to ask this question and imply that we need to forgive the Bankers.

Quote from the film "The Outlaw Josey Wales" - "Don't p.ss down my back and tell me it's raining"
FSA admits huge mistakes 1:30pm on 26 Feb 2009 The FSA were/are incompetent fools and they are only now closing the barn door after the horse has bolted.

And another thing in Roberts report… neither the Bank of England nor FSA had formal responsibility for system stability. If it wasn't clear then it's obvious to me that the person who setup the bodies didn't do a very good job.....

Remind me who setup the tripartite.. Oh yes it was our very own incumbent Prime Minister.

Never mind the bankers getting bonuses and big pensions what about Tony and Gordon, shouldn't we claw back some of their salary/pension/bonus/expenses!
We've lent £185bn to banks 4:46pm on 03 Feb 2009
Robert you say the banks have lost £45 billion.. no they have not..

the assets with which the banks customers customers have borrowed against have been reduced in value.

The loss is essentially the customers (albeit in the first place), the banks customer is the one that will have to pay for a loan that is valued higher than the asset.

The bank only looses when the either the customer cannot pay or the asset cannot be sold to repay the debt.

The likely scenario is that a percentage of that £45 billion will be lost, but that is dependant on how many customers default.

What you are saying is that all the banks customers will default.. I don't think so!

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