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exlehmanxlmonkey

Listed below are comments made by exlehmanxlmonkey between Tuesday, 7th October 2008 and Sunday, 26th October 2008.

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Caught up in a conspiracy theory 8:22pm on 26 Oct 2008 Run this documentary, fine.

Run Zeitgeist or Loose Change.

Then we can all decide for ourselves. A "debunk" only point of view means there is always room for scepticism that the BBC is impartial, and not a true dialectic.

I mean, how many people read these comments :)
Rothschild "won't back down" 4:47pm on 21 Oct 2008 "Make him dance to the left", said Blair to Mandy
Rothschild v Osborne 11:12am on 21 Oct 2008 Does Mandy pull your strings now, Robert?
A fairer society? 4:54pm on 17 Oct 2008 Spin.

A good trader / investment banker working over the past 10 years can retire if they want to.

The "bankers" that have been hurt will be the support staff, dreaming of that golden ticket, whilst leveraging up the family for posh private schools and bigger houses.

Not sure a pensioner on state pension is really going to "catch up".
Dawn breaks on a socialised banking system 11:07am on 13 Oct 2008 I figure this will lead to further markets collapse over the short-medium term.
A global solution needed 3:36pm on 10 Oct 2008 It's dead. There's nothing to be done.

The more interference , the more hopeless obligations the taxpayers are forced into.

Clearly the system is in trouble when so much money is based on the "credit worthiness" of institutions. These ratings have no meaning anymore, so those transactions are trading (soo to be the taxpayers) cash for moondust.

So:

1 Allow central banks to deal directly with corporations.
2 Incarcerate and liquidate any major investment bank or hedge fund.
3 Form a new ecology of banks that are heavily regulated (like those in France)
I sit in one of the dives - as a low, dishonest decade goes splat 2:12pm on 10 Oct 2008 I think the main problem is collective memory. A decent trader / analyst can retire at 30, so most of these guys have seen the golden age, taken the cash, and never known pain.

The traders/structurers I knew were on average about 28, so on leaving Cambridge / LSE @ 22, playing the graduate game, and attempting to make huge bonuses with good "upwards" guesses.

Watch the news now: the younger guys say, well, it can be OK. The older hands, e.g. Soros are saying this is the next apocalypse.

Ironically, the debt bubble coincided with what, in retrospect, must have been obscene amounts of speculation on oil by funds. The almost 50% drop in price must be them attempting to get cash from any source to pay loans to banks that desperately need cash for their CDS liabilities and capital ratio requirements. And this oil price caused inflation, increasing (in the UK at least) interest rate hikes, damaging the low interest rates that these bets were made on.

Strikes me like people playing roulette on the back of future winnings on blackjack funded by future winnings on dice. No serious casino would let this happen. Sadly our house seems to be patting these players on the back, while docking the staffs pay.
OK Prime Minister - what about the long term? 11:02pm on 08 Oct 2008 #18 YummyCarolKirkwood

I agree with you on the state of living beyond ones means, and the UK having no cash.

At 30, i don't own my own home because as a singleton I could never afford a flat (even though I was working at a top investment bank *chortle* ) unless I wanted to go 5* with NR :), so I fully agree with not living beyond ones means.

My point is this could be an opportunity to fix things of the long term. I'd rather not opine about how we got here (choosing CPI and not RPI as the inflation target has been the killer for me).

#19 nice :)
OK Prime Minister - what about the long term? 3:51pm on 08 Oct 2008 I feel this has been a good plan, all in all.

However, what's going to be the political effect when many small businesses go bust?

Will the banks that sign up to the scheme have a clause that says they must reimburse clients who they charge out of business, a kind of insurance for the "real economy"?

The Chancellor announced he intended to stay in for 3 years: if these shares are turning a profit, why would we want to get out? Sounds like Gold Reserves Part 2.

I feel that the country has the opportunity to turn itself into a Banking Industry, the profits of which could be used to buy us out of the PFI garbage that hangs over our heads.

And what better headline: Banking Dividends pay for Schools and Hospitals.

Fundamentally, these banks are, in general, well-run, efficient, organisations, got (probably) on the cheap by the government. If sovereign wealth funds are good enough for other countries, why can't this be the beginning of a real investment fund for the country?
How to blow the head off this crisis? 11:40am on 07 Oct 2008 My question is: why are we so enamoured with the current corporate banking system? Clearly it has caused great inequity in society, but no we are "socialising" the losses (whatever the solution, the tax payer is on the hook in all countries).

So instead of the money supply being
Central Bank -> Corporate -> business

can't the goverment authorise a new system of
Central Bank -> Business

I realise that there would be fewer fat profits, less speculation, more sustainable wages, and more transparency in the banking system. I realise these laudable goals are anaethema to corporate banking, but isn't that how we got here?

This would shore up the "real" economy, destroy the city of london as the world's biggest casino / debt production center, and reassure the populace that massive systematic risk taking, means leeching the system.

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