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Bobfrombev

Listed below are comments made by Bobfrombev between Thursday, 8th January 2009 and Tuesday, 14th July 2009.

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Goldman: Recession? What recession? 3:59pm on 14 Jul 2009
Why didn't MG Rover's inspectors call in cops? 09:50am on 07 Jul 2009 Robert, I have been one of your fiercer critics over the last year or so, I must confess your most recent blog sheds light on the reason Brown chose to restore Mandelson to office.

The observer might see this as a Mandelsonesque rather than a Brownonion action. After all Mendelson is the whipping boy totally disregarded as a person of integrity by the public, well able to deflect missiles aimed at Brown and give Brown the space and time needed to plot.

Just answer this question, why would a forensic accountant, paid per diem, want to introduce the SFO sooner than his hand is forced. Mendelson has made the most of the situation presented to him by a representative of the finanacial establishment.

This one defintely has a Brown smell.
Making banking boring 08:00am on 03 Apr 2009 This summit has addressed the root cause of the problem in the US and UKeconomies, which are based on the need for a financial services sector and a globalised view of manufacture as opposed to the internal manufacturing base which exists in Germany and to a lesser extent France. German,French and Italian investment has largely been in Eastern Europe.

The French, Germans and to various extents all other EU member states have jealously guarded and actively protected their industrial base, whilst we in the UK and US have invested heavily globally in developing economies. Globalisation has brought financial means to the Chinese, Russians and Indians at the expense of manufacturing industries in the US and UK. The UK historically has been the largest foreign invcester in the US even after EU entry.

US money revived Japanese and German fortunes after WWII and was seen as instrumental to World peace, the same money has been used since the end of the cold war to promote global stability. The World Bank, EBRD and the IMF instruments of US financial policy.

We must start to rebuild our manufacturing base if we are to succeed in years to come, otherwise the alternative is poverty in a nation unable to support a population of 60,000,000. A regulated banking system and a government which supports the promotion of industral development is an integral part of the future. The alternative solution includes the growth of the national socialism we saw after WWI.

Like it or not we are part of a global economy, with government there to provide financial stimulation and the banks the development capital required, we need to rejoin the developing world and forget the trappings of Empire.
G20: Sticking plaster not cure 7:31pm on 01 Apr 2009 Unfortunately Robert you are failing to recognise the problem that our post industrial society has created. The western world has seen the provison of financial services and the use of cash as a commodity, as a viable alternative to an economy with a sound manufacturing base. Money being used to reward individual and corporate effort.

Many people who entered the property market did so to get rich quick supported by banks who preferred property investment to other sound commercial and business proposals, which the banks lacked appetite for.

Robert you can start the recovery now, instead of bashing banks and criticizing every solution proposed by our beleaguered politicians, you can promote and encourage the entrepenural skills which have taken this country to greatness in times.

You can look to promote a more positive perspective start to believe that recovery can be achieved by stimulating and promoting entrepenural activity.

The state cannot deliver us from, this situation, no amount of government intervention can replace the entrepeneur. The responsibility of government is to provide the regulation of the financial infrastructure.

There is one fact to recognise, entrepenural activity will continue talent will prevail and if we do not act to change the mood of this country, the entrepeneur will find outlet elsewhere.

You may have tried to destroy the bankling system single handedly but you must not be allowed to kill entrepenural spirit.
China: All about jobs 1:03pm on 04 Mar 2009 At least you are beginning to see the global consequences of your recent journalistic effort. Mr Peston you are so far out of step with reality, we knew it was necessary to make adjustments in the way we approached our financial responsibilities, but I will not forgive you or the rest of the media for taking away the hopes and aspirations of the hard working majority for the foreseeable future. You unleashed this monster and you have done little to assist its recapture.

My father's career and early life was destroyed by the combined impact of the Great Depression and World War II. The media has been responsible for delivering the prospect of further global social disruption on a far greater scale than previously encountered.
HBOS: Strong men will weep 4:33pm on 27 Feb 2009 Robert, we need positive proactive journalism, you need to change your attitude look for the green shoots. You seem unable to recognise your part in this disaster . Asset values and business confidence are directly proportional to one and other, you know how easy it is to persuade people that we are in a recession or cause a run on a bank. We have now arrived in the recession you and the rest of the media seemed intent on having. You have spread the doom and gloom and generated the climate in which good assets have turned bad and bad assets become more toxic. The balance sheet of all major financial, commercial and industrial companies are effected by your opinions. I think you and the rest of the media should take a holiday for a couple of years and come back when we mortals are ekeing an existence in the "blade runner" environment you so desperately seek for us all. Maybe then and only then will will the cost of your irresponsibility be realised.
Are Barclays' profits irrelevant? 09:10am on 09 Feb 2009 Robert get real smell the coffee, Barclays have presented externally audited accounts which show a profit for the tax year in question, they reflect the value of assets on the last day of that accounting period.

You fail to admit that you have had direct influence on the value of their assets, your blog and daily commentary are underming the confidence in the banks and now you seem to be questioning our system of accountancy. We're paying a high price for Hutton. What exactly are you looking to do create a new verb to "pestonate".

The political reality is that we have had the government of choice, the Laboiur party which until Hutton was totally supported by the BBC. A labour party whose Chancellor began to believe he had discovered financial perpetual motion and overlooked the design of the control system. This is the definition of political expedience.

The question I want you to answer is who is pestontaing who?
Insurance, not nationalisation 1:37pm on 22 Jan 2009 Maybe I have finally seen the light, the entire Western world has moved from it's original industrial foundations to what we loosely refer to as a post industrial economy. The Labour reformers of education placed obstacles in the way progress to higher education standards because they feared the possibilities of Revolution post 1968 and the Green movement fought against adoption of newer technologies and nuclear power in the 1990s.

These Luddites have forced a reliance on diminishing reserves of fossil fuel, which has led directly to our current, soon to be reviewed, Bush led, war on terrorism and ultimately to the out break of a commercial civil war, which has seen London lose out to both New York and Frankfurt as the perceived global financial centre. The recent situation has cast doubt upon the value of Sterling and its future as an international traded currency.

What of the future Britain, will succumb to the Euro. It is clear that we no longer fulfil our "most favoured of the rest role" within the trans Atlantic alliance, we might provide mercenaries fighting the US cause, but I hope this will allow the UK to reduce defence spending as a percentage of GDP and concentrate our efforts on the major problems facing the Nation. I am afraid for we have served our purpose, US forward missile defence bases are now in Poland and other areas of the former Eastern bloc and the US no longer see us as an ally.

We need a European defence capability but that can now be EU funded by the somewhat wealthier European countries who have survived since the last war with minimal defence expenditure.

We should take this opportunity to look upon the current chaos as a the dawn of a new era, one which could see Britain final shed grand international ambition become a fully integrated member of the EU and move forward with optimism.
Does the Bank Rate matter? 1:46pm on 08 Jan 2009 Many years of government
failure to regulate personnal credit, the banks, their reserve levels and mortgage lending policy has led to the current crisis.

Tax payer support is required and will come from the reduction of borrowing, prudence. and accepting lower interest rates on pensions and savings

It has suited Mr Brown and Mr Blair to allow access to cheap money and watch as house price inflation has provided our only economic stimulus.

If the crisis is to be dealt with quickly, the government will need to maintain the tax paying population, tax revenues must be maintained. Otherwise social costs add to the governments burden.

The government has already created money to support the banks and will be forced to print more money, hopefully to develop infrastructure rather than meeting the costs of unemployment benefit over the next year or so.

The dilemma the government faces is ensuring that unemployment is limited and senible long term economic planning introduced.

This will mean that the economy, energy policy, industrial output, health, education and training all the aspects of life New Labour claim to hold so dear will require careful management not knee jerk expedient reaction.
Sterling challenge for UK shops 09:39am on 08 Jan 2009 Mr Peston, the penny has finally dropped, in the days pre-globilisation a weak pound provided opportunities to exporters of UK manufactured goods. In this current climate where manufacturers rely on imported content they are vulnerable to the weakness of the pound. Many original equipment manufacturers are being forced to buy components in Euros on a proforma basis, because both credibility and confidence is low.

As we know emotions play a larger part in financiasl stabilty than the reality.

Whoever foresaw the euro on a par with the pound must have been pleased to see their predictions realised. I may be cynical but I prefer to believe that the weakness in sterling against the euro has been manufactured to reduce the costs to EDF of the British Energy deal.A scenario which I would have expected a journalist of your stature to explore

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