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billywares

Listed below are comments made by billywares between Thursday, 9th July 2009 and Tuesday, 1st December 2009.

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Appetite for fat cat taxes? 09:57am on 01 Dec 2009 It is reassuring to see so many down to earth comments about tax,the credit crunch [altho I think we are in a Debit Crunch really] and,of course,our corrupt banking system sustained by billions of taxpayer debt.
Why is it that Banks are being allowed to retain any of their 'profits'??
My view is that [a] no Bank dividends should be paid to anyone-after all were it not for taxpayer support the shares would be totally worthless [viz Northern Rock and B & B];20% 0f the profits should be used to build up capital reserves and 80% used to repay taxpayer debt;no bonuses of any nature to be paid-why we pay anything to the gamblers who caused the problem I do not know;all employees on more than £50000 per annum to have pay frozen for 5 years.
As for the mansion tax-the suggestion ,the comment about changing the 'bands' seems to be most appropriate.The higher priced properties seem to benefit disproportionately under the present system.
Three-way on the MPC 11:51am on 19 Nov 2009 This is all very interesting -are we all agreed that the experts are seldom right and that they are the ones who cause more trouble than enough.QE - my oh my what will the level of disaster be when that stops.What I never see mentioned is that the 'economy' is more properly measured by 'consumer spending'.As the advert says -simples -no consumer spending is no economy.For proof see the scrappage scheme which produced more sales ie consumer spending.Now see how much capital has been repaid as mortgage costs went down which means lower consumer spending.Disposable income is not increasing ,therefor,there will be no savings and no gratuitous spending.Until consumers feel better-no recovery.
Turner: Not banks' enemy 09:55am on 23 Sep 2009 So many comments that show an understanding of the corrupt banking system yet Lord Adair and his cohorts are guilty of not truly understanding what went on and is still going on.Adairs speech is a pathetic attempt to please his friends in the City and to give false hope to the taxpayer.Bonuses did cause the problem because bonuses arose only from the trading of toxic CDO's understood by noone except the rogues who thought they were the answer to someone elses investment problems.The taxpayer is and will be paying a high price for the Banks forgetting what they were founded to do.
Business still being crunched by banks 10:46am on 23 Jul 2009 I am sure the Bank Executives must be quaking in their cash filled boots-in your dreams everyone.Why do the supposed 'Powers that Be'not understand that their pussyfoot reactions have no effect on the Bankers.The Bankers continue to line their pockets at the taxpayers expense whilst cruelly and uncaringly pursuing individuals and small firms to the extent of near bankruptcy also making 1000's of ordinary employees redundant.Shameful -they should all be dismissed immediately.
Curbing bank executives' enthusiasm 11:09am on 16 Jul 2009 WOW a former adviser to Morgan Stanley and an ex Bank of England Director, needing five months to state the blindingly obvious.Those 'in charge' of the Banks were-and still are-running a cosy little club that trades in Betting Slips and lending policies on a quasi Ponzi basis,designed to generate paper profits to justify unwarranted salaries and bonuses.Which set of guards will watch the guards??? Not the FSA who could not find a keg of beer in a Brewery.
Can non-execs cure banks' madness and badness? 11:01am on 16 Jul 2009 I usually agree with most of your comments but I am amazed at the way you rationalise and excuse the Boards/Executives/Non Exec Directors absolute failure to understand their own business of Banking and Finance.
Buying Amro was a doomsday event which everyone but RBS understood.Similarly trading in CDO's and Credit Swaps [otherwise known as Betting Slips]is a route to failure.Why are these people not being prosecuted for malfeasance??
Does Europe need hedge funds? 12:59pm on 09 Jul 2009 Who needs Hedge Funds - noone.They are organisations trading in betting slips -just like bookmakers who,to their credit, have the moral superiority over hedge fund Managers because bookies quote the odds and do pay up for winners.Short Selling - how is it that people who do not own shares can sell them and why do pension funds seek easy money[they think] by lending shares -when they do my view is that the Pension Trustees are in breach of their duties.Let them all go to Switzerland and suffer the regulators there and save us the expense of policing those who make nothing and help to create financial crises.
Bankers more confused 11:04am on 09 Jul 2009 A total shambles all round-most Bank Directors should be facing prosecution rather than more bumper bonuses.Someone somewhere should be reminding these Bankers that they are now employees of the public.
The problem with the FSA is that it has never understood any part of any section of business that they should be regulating.If anyone not in the insurance business, had ever attended the FSA Seminars on Treating Customers Fairly they would instantly realise why the FSA stumbles to find the front door never mind wrongdoers.Lord Turner clearly does not understand the problem with pensions as evidenced by his recent nonsensical pronouncements [from the shelter of a wonderful pesnion option] and he and Mr Sants should be retired immediately.

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