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lmcgarry

Listed below are comments made by lmcgarry between Wednesday, 8th July 2009 and Wednesday, 21st October 2009.

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What the governor had to say 11:32am on 21 Oct 2009 A return to a style of Glass Steagel is the only hope of redistributing and diminishing systemic risk in the banking system. There is a reason we didnt have a collapse of this style till the total repeal of the act designed to prevent a repeat of the 20s and 30s. There are already a lot of bankers and economists arguing against this sort or return to separation of activities. But it has to happen if the taxpayer is to stop being the back stop to the financial industry. The consumer can then choose how to use his money, and what sort of risk they want to see it taking.
Sharpening elbows 2:23pm on 21 Jul 2009 The biggest problem has been the Labour addiction to equality of education. not everyone is made the same, nor can they achieve the same things in life. PEOPLE ARE DIFFERENT. So the bizarre situation arises. This government has done everything it can to reduce opportunity for good students from poorer backgrounds to excel(grammar schools etc etc). they now wish to penalize those who have given up on the disastrous public sector education and scrimp and save to give them a proper education where they can excel and find the best in themselves. All the while the PM talks of competing on the national stage for jobs industry etc. We hobble our work force education and then crow about competing with nations who do all they can to giuve their childred the very best eduaction they can and dont shy away from competition in schools. Thius must be the joined up government Tony Blair and Gordon Brown spoke of. Fools
Nobody comes out well of this... 11:20am on 09 Jul 2009 so the labour revenge / spin machine is out for revenge. while all the points you make are absolutely valid, it is highly likely the public at large will also see the dab hand of the dark arts behind it ( sorry Harry Potter mania in my house) with Peter Mandelson playing Lord Voldermort and Alistair Campbell et al his desciples. Labour could easily come out of this looking bad too.
Bankers more confused 3:29pm on 08 Jul 2009 shambles
Governor snubbed 1:37pm on 08 Jul 2009 Anyone get the feeling that GB is exerting a lot of pressure to keep the roll of the FSA strong. How would he look if it was downgraded or abolished by Darling. The opposition, and anyone with a brain actually, would instantly blame the FSA - quite rightly too _ for contributing to the mess, and blame Brown for creating it and by association for the financial nightmare we face. All accurate accusations, just more easily leveled id the FSA went the way of the dodo, as it probably should.
Treasury patches up regulatory system 07:38am on 08 Jul 2009 Yet another enormous error on the part of this government. Having been complicit in Clinton's destruction of the Glass Steagall act ( the act of congress brought in after the great depression, to seperate the activities of investment and commercial banks and prevent another great depression) and the build up of the systemic risks which lead to the last great depression, we decide we will leave well enough alone. Seperating the investment banking and high street banking operations and removing the "too big to fail" institutions is the only way to bring back a safe level of risk to our banking system, by diversifying the type of business they do. We repealed Glass Steagall and low and beholdd we are in the greatest financial crisis since the depression. So what changed. Even our dull witted PM and Chancellor must be able to read a history book.

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