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warbath

Listed below are comments made by warbath between Sunday, 21st September 2008 and Wednesday, 2nd September 2009.

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Cricket misses the point again 10:54am on 02 Sep 2009 Sport in general, especially in Europe / ROW, often struggles to realise that it is just a branch of the entertainment business and that any athletes or sporting bodies cannot live in a bubble.. broadcasting, advertising and gate sales pay their wages, so if the broadcasters/advertisers/punters say play/run/fight they better start..
Total and the Wimbledon effect 1:15pm on 02 Feb 2009 The full impact of the severe reduction in manufacturing and the rise of service industries as a major employer has probably not hit yet.. despite a global economy and lack of EU trade barriers, within our borders there surely needs to be something be put in 'at the bottom' before it can serviced in the middle..

It is telling that mentions can be made now of a 'People's Bank' and nationalised utilities and where as recent reaction would have been of scorn or 'lefty dreaming' now it is considered a real possibility - hopefully from this ungodly mess some good may come..
Mervyn and leverage 09:33am on 21 Jan 2009 Continued British banking loans? ..computer says:"Nooo.."
How will B&B be rescued? 11:54am on 27 Sep 2008 In the good old days before rampant 'short term greed', home buyers always put down 10% and the mortgage was a maximum 90% - this gave the banks a 10% contingency on house prices. 110% mortgages are obviously a disaster waiting to happen..

Incredibly low borrowing rates where everyone was encouraged, and especially companies almost shamed into massive borrowing and leveraging.. surely there has to be more GDP than debt and that tipping point probably went before 2006 (probably long before that..) so this was another disaster waiting to happen..

Come-uppence is due and certainly, although already heavily regulated, the Gov buyouts should add even more rules - as clearly the culture of many financial institutions is bordering on obscene..

However that said the idea of "stopping all city bonuses" is impractical often large sections of financial institutions are running intelligently and profitably (a friend worked in one euro bank where one dept which employed just 20 people had losses of tens of billions..) so the idea of blanket ban is unfair..
A stinking septic bank 11:30pm on 25 Sep 2008 You can fool all of the people one time..
what a genius, Dubya has feathered his already well fluffy nest and ensured his septic mates are set for the next few months as they gradually withdraw / move their stocks or ensure they are part of the well paid 'consultation'/oversight groups..

His legacy is that whomever succeeds him looks like they will be drinking deep from the world's largest poison chalice..
British banks shorted 09:20am on 24 Sep 2008 Strange Times.. I wonder if Gordon Brown is hoping for more financial collapses as it would seem to strengthen his new role as 'steady hand on the tiller through troubled water..'. Just what we need a dour Scot to hold the naughty economy in line.. Shame that he has allowed them to run free, with unlimited pocket money, for the last 11 years.. where were you then stern father-figure?
The next accident 1:26pm on 23 Sep 2008 When I was a lad the bank manager was the grumpy be-whiskered old man that looked disapprovingly over his half rims as he read out the words 'overdraft' and then told you off for not 'minding your finances'.. But as I got older, the managers changed, got younger, until it was a just a series of spotty youths grinning as the 'computer says yes'.. I suspect it's time for an international 'computer says no..' and the regulator to assume the role of the grumpy old bank manager, no fun, but it did stop you getting into too much trouble..
Bye bye bulge-bracket 11:12am on 22 Sep 2008 What's that old adage: You owe the bank a $100 it's your problem, but if you owe the bank a $100m then it's their problem..
Bye bye bulge-bracket 10:28am on 22 Sep 2008 The thick-skinned, irony proof investment banking business never ceases to amaze..
The banks are like sulky teenagers who have had to go back to their parents to ask for money and maybe move back in their house - although the teens are normally complaining about their parents not giving them any freedoms - all the while telling their friends that it's not going to stop them going out partying and doing what they have the right to do..
And we are supposed to give them our money..? yeah right!
Paulson's monster 1:59pm on 21 Sep 2008 Nice legacy, whoever wins in November will have the repercussions of the 'Monster' looming over whatever they try to do during their administration.. I bet even some staunch Republicans are thinking " Hey, give the poison chalice to Obama, let him sup on that cup..".

I wonder if the Fed will demand a 'promise not to do it again' note from the banks, like the Japanese did in 2002? ..because that really worked.. NOT!

How long does the cycle of nationalised debt and privatised profit run before someone wises up?

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warbath