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wangbang

Listed below are comments made by wangbang between Tuesday, 14th October 2008 and Wednesday, 8th April 2009.

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Tories to break up banks? 4:56pm on 08 Apr 2009 Hi RP

I think the problems that the existing bank had created so far was quite like caner in our body. Cancer can only grow or just shrink with proper treatment, or cut them out. So if you are a good doctor, what will you advise??? It appears that Osbourne did make some sense. Unfortunately, cancer can very likely come back to haunt even after operation or/and treatments. Very much like our dire economy. I am a believer in maintaining good health in holistic way because it gives you a chance to prevent illness or cancer by maintaining good diet and plenty of correct exercise. (I practise Tai Chi every morning and evening and maintain a very healthy diet. I have not seen doctor in my last twenty years and I am 56 now and hope to live till 100)

I hope what I say above make sense to everyone who is layman. Not financial guru. They have been now downgraded to sub-bench. You need a good doctor................. not a good Chancellor or economist. Let the nature take its course. CO2 emission apparently has been reduced since the crises has started. Use less fuel and waste less. Don't go back to the old way.
Rock blew whistle on economic flop 1:52pm on 20 Mar 2009 Hi Robert

Actually before Labout was in power. The then Tory's had a few scare as well. What happened to them credit card booms and resulted in the black Friday................... Why people did not learn? Could be because they were too ignorance? They blamed on the sophistication of these new financial instruments and hedge fund etc but it is nothing new. The labout Government just dont get the right advice. Why Chinese people in Hong Kong like saving their money even though interest there is so low? I do, my parents did and my grand parents did and that's why Standard Chartered and to certain extent, HSBC are surviving as they built their empire mainly from the Far East. By the way I came from Hong Kong fourty years ago. Saving is a habbit, a cultural things. It won't be changed overnight. Look at the kids nowadays. They borrow up to the heel. Problem is borrowing habbit started from the top ie the Head of the State, the family etc.
FSA say 'more capital, less risk' 4:58pm on 18 Mar 2009 At last back to basic. But I wonder if the auditors do their job properly in the first place by assessing business risk properly at time of auditing these big banks, would we be able to avoid all these problems? Tory's Lord Lawson managed to utter something sensible by suggesting that the auditors have been giving their helping hands to cook the Bank's book. I do agree with him. Who will argue with your meal ticket provider who might have paid them millions for audit fee?

All investors together with these big global Credit Agency are living and breathing with their hearts set on trusting the audited accounts of these big banks. If Madoff's accountant is sent to jail, I wonder whether these auditors should also be having the same fate????????

New regulation????? Please sort out the auditors first. Don't you see big audit firm still doing other consultancy work for the same big institution other than audit. How can they have independent?

I have been doing audit myself in my last thiry years. I know!!!!!!!!!!
The Goldman infallibility myth 10:30am on 16 Mar 2009 Thanks for telling us RP. In other words, Lehman did not insure their doo doo with AIG while Goldman S. did. Same applied to RBS and HBOS???? Barclays save their skin by getting AIG insured against their doo doo.

To me the global financial institution are all so tied up with each other that none of them should collapse nor any of them should survive in the opposit end of the argument.

Communism vs capitalism

Let the government controls all financial institutions. Then, at least, investors will not lose all their hard earned money. Of course, corruption might become a problem if run by the mandarin in the Government.
How to stop bank nationalisation 8:31pm on 14 Oct 2008 Good piece of work, Bob. I am so cheese off as I am holding over 15k Lloyds shares and seeing its value disappearing since the Board decided to merge with HBOS. You lot heard about Chinese Takeaway????? This is worse than that. I wish the Lloyds board stopped being silly by picking up such a moribund. It is bad bad bad news and let the Government nationalise it, as it might as well this is the last big Mortgage provider in waiting for nationalisation anyway. I invest Lloyds for long shot and hoping for regular dividends not floundering with poor acquisition decision by some Whimp who listening to Gordon Brown.

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