Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: Dusty on 19 September 2008, 12:09:32
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Watching Question Time last night, I thought one of the panelists made an astute observation regarding the banks.
She said, "when the banks make lots of private profit, it's all their good works and their private enterprise. But, when they make bad decisions, and lose lots of money, suddenly its the tax payer who has to bail them out."
In my opinion, no other private companies would be treated to such lavish handouts as the banks have been.
The Banks are more powerful than the Government? :-/
:-* :-*
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I thought it was a very good question time. I particularly enjoyed watching Harriet Harman squrm like she was sat on an ant heap when pressed to state that she wouldn't be standing in the event of a leadership contest. ;D
It is true, though. If any other business took risks like the banking sector have, it would be good riddance when they found themselves bankrupt and in the dole queue. The fact that the state appears to provide a safety net of taxpayer's money for them to fall back on only fuels the risk taking.
I'm all for the state compensating the innocent consumer from failing banks, but the traders, executives, shareholders, etc. can go hang.
Kevin
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I'm all for the state compensating the innocent consumer from failing banks, but the traders, executives, shareholders, etc. can go hang.
Kevin
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i agree.
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Watching Question Time last night, I thought one of the panelists made an astute observation regarding the banks.
She said, "when the banks make lots of private profit, it's all their good works and their private enterprise. But, when they make bad decisions, and lose lots of money, suddenly its the tax payer who has to bail them out."
In my opinion, no other private companies would be treated to such lavish handouts as the banks have been.
The Banks are more powerful than the Government? :-/
:-* :-*
Problem is, in reality Governments dont govern the countries..
There are other back of the stage players that dominate the country and governments, these and banks are their play areas for money..
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And to add further we are the modern working slaves of the total system..Who believes thats a democratic game ;D ;D
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There was a comment on Radio 4 tonight regarding the States - but equally true here.
This has to be followed up with regulatory change to stop it happening again. Or we've just let most of them get away scott free and it will all happen again.
The CEO of Lehman is still in place FFS :o
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In a free market economy,theoretically the government should not get involved,but in practise when things get as bad as they are at the moment there isnt any realistic option.
the city of london ,basically genereates the wealth that u.k. plc lives on. over 30% of the national wealth is earned /created there.
If it disappeared tomorrow we would be a very poor country.
I have no sympathy for the stupid banks who lend money to stupid people who cant afford to repay it.and when the banks which are being badly managed get swallowed by more efficient competitors,and the people who mortaged themselves to oblivion in a housing bubble which will inevitably burst start suffering for it,then the individuals concerned shuold not expect to be bailed out by anyone,but the actual institutions must be for the overall good.
I think that the news that the incompetent to$$er who ran HBOS got £2 million worth of shares is a disgrace.he should have been run out of town and told never to show his face again.......rant over :D
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When the banks make big profits it is all their own work.When they f**k it all up they go running to their mummy (the taxpayer) to kiss it better.
The banks are a disgrace.
I feel sure that some of the CEO have been given huge bonuses for their incompetence.....in the real world they should be sacked with a size 14 boot up their arse. :-/ :-/
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anyone who was brave enough to put their money into the banking sector a few days ago would have made a lot of money quickly.
but hindsight knows everything,which is why share dealing isnt as easy as it looks.if it was we would all be doing it. ;)