foxy lady Posted February 16, 2011 Share Posted February 16, 2011 They gambled money they didn't have, on the housing market amongst other things, drastically inflating prices until the bubble burst. They lost billions then they passed the debt on to us. Banks are Global so they didn't just damage our economy but the economies of lots of countries. We are now paying the debt back which has caused the recession, cuts in services etc. If that wasn't enough they then used the bailout money to continue gambling, this time on the commodities market which is causing another bubble to build, hence the rising food prices and inflation worldwide. This, at the present time, has forced another 44 million people already on the breadline into poverty, and if inflation continues to rise, they will soon be unable to afford food at all and will starve. No lessons have been learned, no meaningful safeguards put in place so the banks will continue until the next crash which will come sooner rather than later. It is doubtful we will recover a second time and the only way out (if you can call it that...) will be massive quantative easing on a scale that will ruin the economies of most countries and lead to Zimbabwe style inflation. There will be no usable money system, and everything will grind to a halt. This is no ordinary boom and bust scenario. World leaders are <REMOVED> themselves. The rioting and civil unrest in so many countries is a direct result of the circumstances which bankers have caused, and it remains to be seen how many are left standing at the finish. When you can no longer afford to feed your family and they are at risk of starving, what will you do? No they didn't. Not one of the banks mentioned took a single penny from the UK government or passed one penny of debt to us either. Those banks simply got on with being bankers, paid billions in taxes, employed hundreds of thousands of people who paid billions more in taxes, and paid dividends to shareholders who paid billions in taxes. So just which economy are they supposed to have damaged? Link to comment Share on other sites More sharing options...
Anna B Posted February 16, 2011 Share Posted February 16, 2011 No they didn't. Not one of the banks mentioned took a single penny from the UK government or passed one penny of debt to us either. Those banks simply got on with being bankers, paid billions in taxes, employed hundreds of thousands of people who paid billions more in taxes, and paid dividends to shareholders who paid billions in taxes. So just which economy are they supposed to have damaged? Really? So to what do you ascribe the current world wide unrest and economic downturn? Link to comment Share on other sites More sharing options...
truman Posted February 16, 2011 Share Posted February 16, 2011 Really? So to what do you ascribe the current world wide unrest and economic downturn? People don't like being told the party's over? Link to comment Share on other sites More sharing options...
foxy lady Posted February 16, 2011 Share Posted February 16, 2011 Really? So to what do you ascribe the current world wide unrest and economic downturn? Well I'm not sure that anyone is trying to pin the unseating of Mubarak on the shoulders of Bank Santander. Most of the finacial problems in the world are down to folks spending beyond their means. That would include individuals in this country who are unable to pay their debts, companies who are unable to pay their debts, and governments who have spent more than the country can afford. When the above folks defaulted on loans they left their debts with the banks that had lent the money to them. In a few instances it brought those banks to their knees. Fortunately other banks are continuing to turn out healthy profits which contributed to the recovery. This is important because 20/25% of the UK's GDP comes from the financial sector. Link to comment Share on other sites More sharing options...
Bulgarian Posted February 16, 2011 Share Posted February 16, 2011 Not only that but there is another crash coming which will finish off all but the very very rich. We are about to become a third world country thanks to the bankers and politicians, and there seems to be nothing we can do about it. I think you need a lie down in a dark room love, it's not that bad. Link to comment Share on other sites More sharing options...
Anna B Posted February 16, 2011 Share Posted February 16, 2011 I think you need a lie down in a dark room love, it's not that bad. I really hope you're right.... Link to comment Share on other sites More sharing options...
WeX Posted February 16, 2011 Share Posted February 16, 2011 This gets my goat. Bankers have increased their pay to more then compensate for the lower bonuses! Link to comment Share on other sites More sharing options...
truman Posted February 16, 2011 Share Posted February 16, 2011 This gets my goat. Bankers have increased their pay to more then compensate for the lower bonuses! And what did you expect..? It's not rocket science is it? Link to comment Share on other sites More sharing options...
Bulgarian Posted February 16, 2011 Share Posted February 16, 2011 I wish I worked for a bank Link to comment Share on other sites More sharing options...
Magilla Posted February 16, 2011 Share Posted February 16, 2011 I wish I worked for a bank Go and work for one, what's stopping you? Link to comment Share on other sites More sharing options...
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