Anna B Posted April 27, 2012 Share Posted April 27, 2012 Which is fine until they start lending money they shouldn't be (i.e. breaking capital controls), excessively sourcing lending funds from the markets, using complex financial instruments to gain leverage etc... We're no longer in the happy simple times when what a bank lent was carefully controlled and based on the capital it held. The general disconnect from that happened over a decade ago.[/quote] Trouble was nobody told the public that. Link to comment Share on other sites More sharing options...
green Posted April 27, 2012 Share Posted April 27, 2012 Which is fine until they start lending money they shouldn't be (i.e. breaking capital controls), excessively sourcing lending funds from the markets, using complex financial instruments to gain leverage etc... We're no longer in the happy simple times when what a bank lent was carefully controlled and based on the capital it held. The general disconnect from that happened over a decade ago.[/quote] Trouble was nobody told the public that. Gordon Brown specifically would not allow Alastair Darling to send in teams to the banks to find out how big the problem was. I wonder why? Over in the states however, 100's of bean counters were all over the banks deficits and working out the liabilities. Which is why the biggest banks in the US are now the least leveraged. Link to comment Share on other sites More sharing options...
I1L2T3 Posted April 27, 2012 Author Share Posted April 27, 2012 Gordon Brown specifically would not allow Alastair Darling to send in teams to the banks to find out how big the problem was. I wonder why? Because the 'light touch' meant a massive amount of trust was placed in the ability of banks to more or less self-regulate. Because the banks and associated vested interests would have retaliated and damaged the government. The underlying fault was trusting a finance industry that had effectively turned feral without anybody realising, except of cource the feral bankers themselves who no doubt couldn't believe their luck and thought it was Christmas every day. Let's not forget where this all started though - 1986 - Maggie - big bang. Link to comment Share on other sites More sharing options...
xenia Posted April 27, 2012 Share Posted April 27, 2012 Yep, like Phil said the other day, Xenia has all the insight of a security guard! I am sorry to personalise this, but it does seem as though you are your chums sem to resent anyone who actually works for a living, saves up and invests wisely. What difference does it make what I do to pay for my lifestyle? I WORK, I am entitled to spend my money as I see fit, I am entitled to my opinion (which includes the one that socialists are mired in jealousy, envy and sloth). My insight into socialism comes from a youth tainted by it, bent unions, traitorous politicians. As regards Security Guards, I am proud of what I do, men and women like me protect critical national infrastructure, ensure bombs dont get on planes, protect people, property and profit. I think some of the resentment comes from those who tried to enter our profession and failed. Vote Conservative Toodle Pip Link to comment Share on other sites More sharing options...
green Posted April 27, 2012 Share Posted April 27, 2012 Because the 'light touch' meant a massive amount of trust was placed in the ability of banks to more or less self-regulate. Because the banks and associated vested interests would have retaliated and damaged the government. The underlying fault was trusting a finance industry that had effectively turned feral without anybody realising, except of cource the feral bankers themselves who no doubt couldn't believe their luck and thought it was Christmas every day. Let's not forget where this all started though - 1986 - Maggie - big bang. Yes, its started under Maggie, and i had lots of friends working in the city in the 90's who told me horrifying stories. However, Brown & Blair embraced the City with little or no regard of the problems that were being ignored. Yes, the Tories would likely have done the same, but they werent in power, so we will never know. Brown didnt want us to know the problems, as he had an election upcoming, and most of the people who were involved/oversaw the biggest corruptions, he had promoted to various posts in the FSA etc. It was all about him not wanting to lose face. Ill never forgive the Labour party for the damage they did to this country. They allowed their leader to ride roughshod over us, deny us any debate on the calamity of the situation, and pretended they were saving the world. As long as Balls is in the shadow Treasury they are unelectable. Link to comment Share on other sites More sharing options...
L00b Posted April 27, 2012 Share Posted April 27, 2012 I think some of the resentment comes from those who tried to enter our profession and failed.Not wanting to personalise this either, or go O/T much further, but my Mrs is a SIA-reg'd vetting officer these days. The horror stories abound to such an extent, and with the ever-growing compulsory character of SIA ACS accreditation to get any contracts, that there's bound to be a great many more of these in the coming years...brace yourself! Link to comment Share on other sites More sharing options...
xenia Posted April 27, 2012 Share Posted April 27, 2012 Not wanting to personalise this either, or go O/T much further, but my Mrs is a SIA-reg'd vetting officer these days. The horror stories abound to such an extent, and with the ever-growing compulsory character of SIA ACS accreditation to get any contracts, that there's bound to be a great many more of these in the coming years...brace yourself! No need to brace here my friend, and you can tell your lady wife that I completely agree that the SIA ACS is far from good enough.(but a vast improvement on what there was before). Thats why the firm I work for maintain thier adherence to ISO standards are inspected by the NSI and cant wait for the next upgrade in standards. Link to comment Share on other sites More sharing options...
xenia Posted April 27, 2012 Share Posted April 27, 2012 Not wanting to personalise this either, or go O/T much further, but my Mrs is a SIA-reg'd vetting officer these days. The horror stories abound to such an extent, and with the ever-growing compulsory character of SIA ACS accreditation to get any contracts, that there's bound to be a great many more of these in the coming years...brace yourself! Probably the wrong thread to do it but it would be very interesting if she dis outline a few of the horror stories, people should know! Link to comment Share on other sites More sharing options...
xenia Posted April 27, 2012 Share Posted April 27, 2012 Because the 'light touch' meant a massive amount of trust was placed in the ability of banks to more or less self-regulate. Because the banks and associated vested interests would have retaliated and damaged the government. The underlying fault was trusting a finance industry that had effectively turned feral without anybody realising, except of cource the feral bankers themselves who no doubt couldn't believe their luck and thought it was Christmas every day. Let's not forget where this all started though - 1986 - Maggie - big bang. If Major had won in 1997 it would never have got this far. Brown didnt allow Darlings team in because he hoped it would all go away and he (Brown) would get the job with the IMF. Link to comment Share on other sites More sharing options...
Tony Posted April 27, 2012 Share Posted April 27, 2012 Where were the brakes on the property market? The property market didn't need brakes though, it just responds to demand like any other especially mature commodity. The availability of money to immature spenders was the single problem. It beggars belief that Brown and his entourage actually encouraged it, and that entourage are the current opposition who now behave as if utter wouldn't melt. Link to comment Share on other sites More sharing options...
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