Bankers/Rich/Poor/Bailouts

[truman]

The Bankers are greedy scum of the earth leeches if it wasn't for them morons our once great country wouldn't find itself in the terrible mess it's currently in.

 

The Tories should have clobbered them! but we all know Cameron and Osborne won't don't do that to there fellow rich chums! the Torie scum will continue to let them get away with extortionate bonuses whilst laughing in the faces of millions of hard working families up & down the country it's an absolute disgrace.

 

Remind me again, which party bailed them out...?

[geared]

Remind me again how much a Labour politician is worth these days?

 

You seem to think they still live in a council terrace and drink down the pub with all the miners.

 

You are completely deluded.

[truman]

Remind me again how much a Labour politician is worth these days?

 

You seem to think they still live in a council terrace and drink down the pub with all the miners.

 

You are completely deluded.

 

Who is this aimed at..?

[geared]

Junior1986

 

you were chastising them as well.

[Staunton]

Staunton, that's a lovely story, but the situation you described would only be worsened by the promise of state granted bailouts and protecting the banks' assets using tax payer's money.

 

This is exactly what happened with the great government sponsored finance houses in the US - Fannie Mae and Freddie Mac. Because they essentially had unlimited backing from the tax payer, they could "afford" to lend to anyone.

 

In a free market, banks would not permit unbridled lending because their risk would be fully privatised. They would be more risk averse, in other words. Oh there may be a couple of irresponsible lenders at first, but the market would soon learn what happens to such businesses.

 

That's really the whole point here - we need to let the market evolve so that lessons can be learned. Government bailouts send the wrong message, prop up undesirable institutions at the expense of us all and stunt the evolution of the market.

 

I would happily endorse these points epiphany, they are well articulated and precise. However, when you identify that the free market is not fully functioning, I would agree, but must explain that the free market never will function. The notion is a chimera, and those who propagate the myth do so in order to maintain their power, prestige and wealth. And that comes at a price, a price paid by the rest of us as public services are privatised, many front line workers made redundant, remaining staff have salaries eroded and terms and conditions revised down as lucrative contracts are awarded to aggressive and unaccountable companies in the corporate sector whose tax structures deplete the UK treasury. We bear the burden and the rich just get richer.

[El Cid]

 

I think they had no choice but to do it. As the eurozone one by one countries are collapsing and being bailed out, I can't help but think that we did well staying out of it.

 

They normally let most companies go bust. We no longer have Block Buster and Woolworths. Didnt Iceland let their banks go bust, so it was an option.

[Supertramp]

I would happily endorse these points epiphany, they are well articulated and precise. However, when you identify that the free market is not fully functioning, I would agree, but must explain that the free market never will function. The notion is a chimera, and those who propagate the myth do so in order to maintain their power, prestige and wealth. And that comes at a price, a price paid by the rest of us as public services are privatised, many front line workers made redundant, remaining staff have salaries eroded and terms and conditions revised down as lucrative contracts are awarded to aggressive and unaccountable companies in the corporate sector whose tax structures deplete the UK treasury. We bear the burden and the rich just get richer.

 

You are wrong. See with private companies, if you as a consumer don't like what they are doing i.e. not paying enough tax, don't go there. They will soon fix themselves up or disappear. Simple as peas.

[Staunton]

'Labour isn't working' said the tories. And they were right.

 

'Same old tories, same old lies' said new labour, and they were right.

 

'There is another way', said the liberal democrats (oh, what way is that then?)

 

Let's think of a collective term for these peope who wreck economies and sell off the state to unaccountable corporate interests. We could call them … er ... we could … erm … what about … let's call them … I know, let's call them 'politicians'?

[Junior1986]

Remind me again, which party bailed them out...?

 

I know full well who it was! they are just as bad the Government and vast majority of mp's couldn't care less about the rest of us it's about time the people of our country fought back on a wide range of issues and said enough is enough.

[Staunton]

You are wrong. See with private companies, if you as a consumer don't like what they are doing i.e. not paying enough tax, don't go there. They will soon fix themselves up or disappear. Simple as peas.

 

Hmm, that sounds like a good idea Supertramp. The only problem is – I've been boycotting the likes of Starbucks, McDonalds, Tesco, et al for years, but last time I looked they were all still trading, and continuing to pay low wages to their front line, all structuring their tax arrangements to avoid HM Revenue and Customs and all enhancing their bottom line in the sunny climes of the Cayman Islands and Monaco.