The Government has got the wrong idea!

[mossdog]

When Cameron says we are all in this together he doesn't include himself. As well as being a millionnaire he is getting his seventy thousand MPs salary and a further one hundred and fifty thousand PM salary. Paid for by us.

 

On the News quiz last week it was revealed that the Camerons didn't like the kitchen in no 10 so they have had a completely new one put in. I wonder who paid for this. Thats right it was you and me. We are paying out of our poverty to make the rich richer.

 

I predict a riot...

Stop wondering and check the facts instead!It is widely reported that the Camerons paid for their own kitchen,no doubt to stop snipers like you.

[slimsid2000]

do you ever call out gordon browns name when making love to your partner ?

 

that could be rather embarrassing as well

 

 

Well lets assume that i am making passionate love to Nikki Sanderson. I can safely say that in those circumstances frugal Gordon would not be uppermost in my thoughts.

[Wildcat]

Wildcat, you might have missed my question...

 

 

Did you borrow more than the value of your property?

 

It looks like you missed my answer:

 

I will end up paying back more than the value of my property. But I can afford to pay it back.

 

 

The silence speaks volumes. Another "do as I say not as I do" hypocrite.

 

Sad troll Bennett.

 

 

[Tony]

But as I said, that wasn't the question.

 

The amount that you borrow and the amount plus interest that you pay back are different things. I'm guessing from your response that you borrowed more than the value of your property? Nothing is compelling you to answer but it's easy for you to clear up. I won't press you further but conclusions may be drawn.

[Wildcat]

But as I said, that wasn't the question.

 

The amount that you borrow and the amount plus interest that you pay back are different things. I'm guessing from your response that you borrowed more than the value of your property? Nothing is compelling you to answer but it's easy for you to clear up. I won't press you further but conclusions may be drawn.

 

I can't see the relevance of the question but I put a few thousand down on the house to get the mortgage.

 

I didn't think you could get a mortgage for more than the value of the house anyway.

[Tony]

You could and that is one of the main causes of the banking crisis - loans exceeding value. The complete failure to regulate that one glaringly obvious thing is at the heart of that problem.

 

However that is not the same problem as government overspending on things that it could not afford... but the connection is that unless banks / funders continued to lend more than the value of the security which in turn drives up transaction prices which in turn reduces the value of the government debt. The government allowed endless lines of credit to be established to all sorts of people.

 

It is a simple but viciously effective cycle that the Labour government encouraged because it suited their finance model. It relied on a never ending merry-go-round of spiralling debt being fed by ever increasing transaction values.

 

This is a very simple précis but like all pyramid schemes they all collapse in the end, leaving most people out of pocket. I genuinely believe that people in the previous government should be going to jail for their negligence.

[thorphanger]

Rubbish!!............Are you telling me that if the conservatives were in power, the banks wouldn't have been alowed to take risks for large rewards?!?

 

If the conservatives has been in power for the past 13 years this country would not be in the mess that it is in.

[mossdog]

You could and that is one of the main causes of the banking crisis - loans exceeding value. The complete failure to regulate that one glaringly obvious thing is at the heart of that problem.

 

However that is not the same problem as government overspending on things that it could not afford... but the connection is that unless banks / funders continued to lend more than the value of the security which in turn drives up transaction prices which in turn reduces the value of the government debt. The government allowed endless lines of credit to be established to all sorts of people.

 

It is a simple but viciously effective cycle that the Labour government encouraged because it suited their finance model. It relied on a never ending merry-go-round of spiralling debt being fed by ever increasing transaction values.

 

This is a very simple précis but like all pyramid schemes they all collapse in the end, leaving most people out of pocket. I genuinely believe that people in the previous government should be going to jail for their negligence.

I can think of lots of people in previous governments that should be jailed like common criminals,but I agree that the previous government has a higher number than normal that should be thrown in jail!

[Wildcat]

You could and that is one of the main causes of the banking crisis - loans exceeding value. The complete failure to regulate that one glaringly obvious thing is at the heart of that problem.

 

Repossessions might be at a 15 year high, but that cannot be a significant cause of the crisis. It may be a 15 year high, but it is not that high to be a causal factor, like it was in the USA. The repossessions are caused by businesses laying off staff making them redundant because of the credit crisis.

 

However that is not the same problem as government overspending on things that it could not afford... but the connection is that unless banks / funders continued to lend more than the value of the security which in turn drives up transaction prices which in turn reduces the value of the government debt. The government allowed endless lines of credit to be established to all sorts of people.

 

Any examples? or are your examples simply failures to re-regulate where Thatcher had deregulated?

 

It is a simple but viciously effective cycle that the Labour government encouraged because it suited their finance model. It relied on a never ending merry-go-round of spiralling debt being fed by ever increasing transaction values.

 

This is a very simple précis but like all pyramid schemes they all collapse in the end, leaving most people out of pocket. I genuinely believe that people in the previous government should be going to jail for their negligence.

 

That is a very serious allegation, do you have any evidence for this?

 

It strikes me as odd especially considering that the Tories have always favoured deregulation and self regulation. Most notoriously in the form of their investments in Iceland and the way many especially on the right of the party saw the deregulation of the banks and businesses in Iceland as a role model. With that in mind talking about this policy as if Labour was implementing it to suit their own ends seems bizarre when the Tories were the primary advocates and also the earlier point that repossessions are not high enough to be a causal factor only a symptom.

[redrobbo]

You could and that is one of the main causes of the banking crisis - loans exceeding value. The complete failure to regulate that one glaringly obvious thing is at the heart of that problem.

 

However that is not the same problem as government overspending on things that it could not afford... but the connection is that unless banks / funders continued to lend more than the value of the security which in turn drives up transaction prices which in turn reduces the value of the government debt. The government allowed endless lines of credit to be established to all sorts of people.

 

It is a simple but viciously effective cycle that the Labour government encouraged because it suited their finance model. It relied on a never ending merry-go-round of spiralling debt being fed by ever increasing transaction values.

 

This is a very simple précis but like all pyramid schemes they all collapse in the end, leaving most people out of pocket. I genuinely believe that people in the previous government should be going to jail for their negligence.

 

Interesting view-point Tony.

 

But I seem to recall a different financial model under the Thatcher Tory government that perhaps laid the basis for some of the current problems.

 

Thatcher sold off state assets at ridiculously cheap prices (BT, British Gas, etc) - which led to a get-rich quick mentality. Thatcher also allowed the building societies to demutualise and become banks - not one of which has survived to this present day, e.g., Northern Rock!

 

Maybe charges of financial negligence should be made against an even earlier government than the last one?