George Osborne
Nov 27th 2011, 11:22 am
#1
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George Osborne
As far as I remember the banks were told to lend money to small buisnesses as part of the bail outs they recieved. Of course they didn't and now it seems the Chancellor is underwriting bank loans to the tune of billions. Is every government impotent when it comes to dealing with bankers
Just how much power do these banks have
Just how much power do these banks have
Nov 27th 2011, 11:42 am
#2
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Re: George Osborne
Obviously far to much.
The Tories brought in some new regulations in response to the fiasco under the previous govt, but they still don't appear to go anywhere near far enough.
The Tories brought in some new regulations in response to the fiasco under the previous govt, but they still don't appear to go anywhere near far enough.
Nov 27th 2011, 12:03 pm
#3
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Re: George Osborne
For sure they regulated some practices but they still could not get the Banks to lend to small businesses and now they are having to offer the underwriting. What will bring bankers into line. I can certainly understand this anti capital movement that it is spreading and at times i wish it war more pro active.
Tax payers money bailed out the banks and now tax payers money is going to underwrite the loans it gives out, the banks just can't lose. They are becoming despicable
Nov 27th 2011, 1:37 pm
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Re: George Osborne
For sure they regulated some practices but they still could not get the Banks to lend to small businesses and now they are having to offer the underwriting. What will bring bankers into line. I can certainly understand this anti capital movement that it is spreading and at times i wish it war more pro active.
Tax payers money bailed out the banks and now tax payers money is going to underwrite the loans it gives out, the banks just can't lose. They are becoming despicable
Tax payers money bailed out the banks and now tax payers money is going to underwrite the loans it gives out, the banks just can't lose. They are becoming despicable
It's just that they're becoming even more despicable than ever.
Nov 27th 2011, 4:04 pm
#5
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Re: George Osborne
For sure they regulated some practices but they still could not get the Banks to lend to small businesses and now they are having to offer the underwriting. What will bring bankers into line. I can certainly understand this anti capital movement that it is spreading and at times i wish it war more pro active.
Tax payers money bailed out the banks and now tax payers money is going to underwrite the loans it gives out, the banks just can't lose. They are becoming despicable
Tax payers money bailed out the banks and now tax payers money is going to underwrite the loans it gives out, the banks just can't lose. They are becoming despicable
Nov 27th 2011, 4:28 pm
#6
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Posts: 1,590
Re: George Osborne
Well the government has said this week it will provide the indemnity cover for first time buyers, so that's it now, housing sale problems solved.
The banks are on a win win.
The banks are on a win win.
Nov 28th 2011, 9:07 am
#7
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Re: George Osborne
I can certainly understand this anti capital movement that it is spreading and at times i wish it war more pro active.
Tax payers money bailed out the banks and now tax payers money is going to underwrite the loans it gives out, the banks just can't lose. They are becoming despicable
Tax payers money bailed out the banks and now tax payers money is going to underwrite the loans it gives out, the banks just can't lose. They are becoming despicable
Capitalism is the very reason things like the Internet are available to you and billions of others, otherwise you wouldn't likely have a computer, much less access to the internet.
Capitalism is the very reason why you have a mobile (or fixed) phone, a house with heating, electricity, and water. It is the reason why everything you consume is not a product of a monopolistic government social programme, but the product of a free market. We all worry about China, but we're delighted to buy their products at less than half the price of ours. We could do that, too, if we were only willing to accept less than half of what we currently earn and work twice as many hours.
Capitalism is the reason why you can even begin to afford such luxuries. Capitalism is why you enjoy the highest wages in the civilised world.
Those that are fighting the good fight against the fundamental flaws in the financial system appear to have confused the very system which affords them such luxuries with the cause of their discontent. But really, the evil isn't with the system, it's with those running it. They are two entirely different things. Why destroy the entire system? The more rational approach is the fix the flaws, and remove those responsible.
Be careful what you wish for. We could become a perfectly socialist society where everything in our lives is regulated and supplied by some government-appointed moron whose entire agenda is to ensure you don't "capitalise" on any opportunity to improve your life.... Where the gap between rich and poor becomes much more of a canyon than it is now.
Let's not throw the baby out with the bathwater. Just the bathwater, please.
Last edited by amideislas; Nov 28th 2011 at 10:19 am.
Nov 28th 2011, 9:13 am
#8
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Re: George Osborne
Excellent post
Nov 28th 2011, 11:39 am
#10
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Re: George Osborne
I too appreciate the spirit of the "anti-capitalism" movement, but I find it a bit ironic that those who are protesting against it are among the key beneficiaries of the capitalist system - wait ... hear me out.
Capitalism is the very reason things like the Internet are available to you and billions of others, otherwise you wouldn't likely have a computer, much less access to the internet.
Capitalism is the very reason why you have a mobile (or fixed) phone, a house with heating, electricity, and water. It is the reason why everything you consume is not a product of a monopolistic government social programme, but the product of a free market. We all worry about China, but we're delighted to buy their products at less than half the price of ours. We could do that, too, if we were only willing to accept less than half of what we currently earn and work twice as many hours.
Capitalism is the reason why you can even begin to afford such luxuries. Capitalism is why you enjoy the highest wages in the civilised world.
Those that are fighting the good fight against the fundamental flaws in the financial system appear to have confused the very system which affords them such luxuries with the cause of their discontent. But really, the evil isn't with the system, it's with those running it. They are two entirely different things. Why destroy the entire system? The more rational approach is the fix the flaws, and remove those responsible.
Be careful what you wish for. We could become a perfectly socialist society where everything in our lives is regulated and supplied by some government-appointed moron whose entire agenda is to ensure you don't "capitalise" on any opportunity to improve your life.... Where the gap between rich and poor becomes much more of a canyon than it is now.
Let's not throw the baby out with the bathwater. Just the bathwater, please.
Capitalism is the very reason things like the Internet are available to you and billions of others, otherwise you wouldn't likely have a computer, much less access to the internet.
Capitalism is the very reason why you have a mobile (or fixed) phone, a house with heating, electricity, and water. It is the reason why everything you consume is not a product of a monopolistic government social programme, but the product of a free market. We all worry about China, but we're delighted to buy their products at less than half the price of ours. We could do that, too, if we were only willing to accept less than half of what we currently earn and work twice as many hours.
Capitalism is the reason why you can even begin to afford such luxuries. Capitalism is why you enjoy the highest wages in the civilised world.
Those that are fighting the good fight against the fundamental flaws in the financial system appear to have confused the very system which affords them such luxuries with the cause of their discontent. But really, the evil isn't with the system, it's with those running it. They are two entirely different things. Why destroy the entire system? The more rational approach is the fix the flaws, and remove those responsible.
Be careful what you wish for. We could become a perfectly socialist society where everything in our lives is regulated and supplied by some government-appointed moron whose entire agenda is to ensure you don't "capitalise" on any opportunity to improve your life.... Where the gap between rich and poor becomes much more of a canyon than it is now.
Let's not throw the baby out with the bathwater. Just the bathwater, please.
The whole world seems to be being controlled by faceless people, elected by nobody, who are just financial speculators and can destroy the livelihoods and security of huge numbers of people at the click of a mouse. I find it very scary indeed, much more so than the prospect of living in a socialist society.
Nov 28th 2011, 12:16 pm
#11
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Location: In the middle of 10million Olive Trees
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Re: George Osborne
the banks were also told to lend money to people who want to buy a home, but they still keep on tightening the screw on deposits and high percentages.
the only people who seem to borrow money for a house are buy-to-let entrepreneurs who have a dozen or so houses already.
Anyone trying to buy a house will find that the majority of people looking will be these buy-to-leters, whilst they will be lucky to see a young couple who want to buy for themselves.
the banks are up to their old tricks, paying only 0.05% to savers and charging 15% to borrrowers.
the way forward is to become a bank
the only people who seem to borrow money for a house are buy-to-let entrepreneurs who have a dozen or so houses already.
Anyone trying to buy a house will find that the majority of people looking will be these buy-to-leters, whilst they will be lucky to see a young couple who want to buy for themselves.
the banks are up to their old tricks, paying only 0.05% to savers and charging 15% to borrrowers.
the way forward is to become a bank
Nov 28th 2011, 1:40 pm
#12
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Joined: Oct 2006
Location: West Midlands, ex Granada province
Posts: 2,140
Nov 28th 2011, 1:43 pm
#13
Ex Expat
Joined: Oct 2006
Location: West Midlands, ex Granada province
Posts: 2,140
Re: George Osborne
the banks were also told to lend money to people who want to buy a home, but they still keep on tightening the screw on deposits and high percentages.
the only people who seem to borrow money for a house are buy-to-let entrepreneurs who have a dozen or so houses already.
Anyone trying to buy a house will find that the majority of people looking will be these buy-to-leters, whilst they will be lucky to see a young couple who want to buy for themselves.
the banks are up to their old tricks, paying only 0.05% to savers and charging 15% to borrrowers.
the way forward is to become a bank
the only people who seem to borrow money for a house are buy-to-let entrepreneurs who have a dozen or so houses already.
Anyone trying to buy a house will find that the majority of people looking will be these buy-to-leters, whilst they will be lucky to see a young couple who want to buy for themselves.
the banks are up to their old tricks, paying only 0.05% to savers and charging 15% to borrrowers.
the way forward is to become a bank
Nov 28th 2011, 2:38 pm
#14
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Thread Starter
Joined: Mar 2011
Posts: 1,518
Re: George Osborne
I too appreciate the spirit of the "anti-capitalism" movement, but I find it a bit ironic that those who are protesting against it are among the key beneficiaries of the capitalist system - wait ... hear me out.
Capitalism is the very reason things like the Internet are available to you and billions of others, otherwise you wouldn't likely have a computer, much less access to the internet.
Capitalism is the very reason why you have a mobile (or fixed) phone, a house with heating, electricity, and water. It is the reason why everything you consume is not a product of a monopolistic government social programme, but the product of a free market. We all worry about China, but we're delighted to buy their products at less than half the price of ours. We could do that, too, if we were only willing to accept less than half of what we currently earn and work twice as many hours.
Capitalism is the reason why you can even begin to afford such luxuries. Capitalism is why you enjoy the highest wages in the civilised world.
Those that are fighting the good fight against the fundamental flaws in the financial system appear to have confused the very system which affords them such luxuries with the cause of their discontent. But really, the evil isn't with the system, it's with those running it. They are two entirely different things. Why destroy the entire system? The more rational approach is the fix the flaws, and remove those responsible.
Be careful what you wish for. We could become a perfectly socialist society where everything in our lives is regulated and supplied by some government-appointed moron whose entire agenda is to ensure you don't "capitalise" on any opportunity to improve your life.... Where the gap between rich and poor becomes much more of a canyon than it is now.
Let's not throw the baby out with the bathwater. Just the bathwater, please.
Capitalism is the very reason things like the Internet are available to you and billions of others, otherwise you wouldn't likely have a computer, much less access to the internet.
Capitalism is the very reason why you have a mobile (or fixed) phone, a house with heating, electricity, and water. It is the reason why everything you consume is not a product of a monopolistic government social programme, but the product of a free market. We all worry about China, but we're delighted to buy their products at less than half the price of ours. We could do that, too, if we were only willing to accept less than half of what we currently earn and work twice as many hours.
Capitalism is the reason why you can even begin to afford such luxuries. Capitalism is why you enjoy the highest wages in the civilised world.
Those that are fighting the good fight against the fundamental flaws in the financial system appear to have confused the very system which affords them such luxuries with the cause of their discontent. But really, the evil isn't with the system, it's with those running it. They are two entirely different things. Why destroy the entire system? The more rational approach is the fix the flaws, and remove those responsible.
Be careful what you wish for. We could become a perfectly socialist society where everything in our lives is regulated and supplied by some government-appointed moron whose entire agenda is to ensure you don't "capitalise" on any opportunity to improve your life.... Where the gap between rich and poor becomes much more of a canyon than it is now.
Let's not throw the baby out with the bathwater. Just the bathwater, please.