Ex-bank bosses face ban from working in City

[Staunton]

Well he was until he resigned.

 

What pleasing news! Thanks for that Anna Glypta.

[Mister M]

I've read what you've said Anna - but it's very difficult to escape the conclusion that the Tories wouldn't have done anything different.

For example as late as 2007 George Osborne welcomed a report by John Redwood which stated "We see no need to continue to regulate the provision of mortgage finance, as it is the lending institutions rather than the client taking the risk."

 

Cameon, Osborne and other Tories welcomed the granting of BoE independence.

 

Cameron is on record as saying "The success of the City helps to drive the UK economy and provides huge benefits for our wider society... It is also highly innovative. You cannot simply set in stone a tax or regulatory regime for the City as it is today because it's always changing, adapting and mutating. [We need] to build a flexible economy with low tax, light regulation and open markets...

 

"Many on the left-of-centre still seek to solve problems through more taxes, more laws and more regulations… But we, on the centre-right, prefer to step out of the way of business."

Indeed at the time many Tories wanted less deregulation, not more.

[Staunton]

In 2011 Alan Milburn was getting frustrated with the tories, who he thought were not being quick enough with their privatisation of the NHS. 'Get on with it' was Mr Milburn's demand.

 

As Labour Secretary of State for Health, Milburn introduced the NHS Foundation trusts, to function as a halfway house between the public and private sectors within the Primary Care Trusts.

 

Mr Milburn is now on the board of Bridgepoint Capital, the company set to profit from the privatisation of the NHS, and due to take over the 'supported living' contracts in Rotherham, Doncaster and Humberside, as bobbyblade pointed out on his 'Privatisation of NHS thread.

 

These 'politicians' are all at it!

[taxman]

So, are we agreed that all these bankers who caused so much trouble really aren't worth their monumental salaries? Or are there still some poor saps who believe that the country will collapse without their massive brains?

[erebus]

So believe the hype, believe the propaganda that somehing will be done....well maybe....someday if they ........well its all lies, all to pacify the mob, that heads will roll, as if!

 

Remember Fred the guy who Shredded Northern Rock, the guy with a knighthood and millions in his pay off, plus his pension go;d ladened pot. He was also going to be sorted out, maybe removing his knighthood, what happened?????

 

Well people got het up, shouted a bit, and then events passed, adn all the children went back to sleep...

 

Nothing changes, the ideology continues, the actors change roles and the audience continues to support the show.

[Mister M]

In 2011 Alan Milburn was getting frustrated with the tories, who he thought were not being quick enough with their privatisation of the NHS. 'Get on with it' was Mr Milburn's demand.

 

As Labour Secretary of State for Health, Milburn introduced the NHS Foundation trusts, to function as a halfway house between the public and private sectors within the Primary Care Trusts.

 

Mr Milburn is now on the board of Bridgepoint Capital, the company set to profit from the privatisation of the NHS, and due to take over the 'supported living' contracts in Rotherham, Doncaster and Humberside, as bobbyblade pointed out on his 'Privatisation of NHS thread.

 

These 'politicians' are all at it!

 

Alan Milburn is shocking. He is very concerned about social mobility apparently. Well he's certainly interested in his own mobility! Stephen Byers and Patricia Hewitt are new labour privatisers too

It's interesting that many of the 'New Labour' MPs who sought to 'modernise' the 'NHS' by bringing in private finance , are the ones that are benefitting financially from its commercialisation . They are pack of traitors.

[taxman]

to the banking problem

[Anna Glypta]

I've read what you've said Anna - but it's very difficult to escape the conclusion that the Tories wouldn't have done anything different.

For example as late as 2007 George Osborne welcomed a report by John Redwood which stated "We see no need to continue to regulate the provision of mortgage finance, as it is the lending institutions rather than the client taking the risk."

 

Cameon, Osborne and other Tories welcomed the granting of BoE independence.

 

Cameron is on record as saying "The success of the City helps to drive the UK economy and provides huge benefits for our wider society... It is also highly innovative. You cannot simply set in stone a tax or regulatory regime for the City as it is today because it's always changing, adapting and mutating. [We need] to build a flexible economy with low tax, light regulation and open markets...

 

"Many on the left-of-centre still seek to solve problems through more taxes, more laws and more regulations… But we, on the centre-right, prefer to step out of the way of business."

Indeed at the time many Tories wanted less deregulation, not more.

 

Well not really. The Tories wouldn't have made the Bank of England independent. They wouldn't have set up the FSA to (fail to) regulate the financial industries. They wouldn't have set on an extra 100,000 public sector worker to pay out of tax revenues and wouldn't have awarded massive pay rises to the public sector either.

I note the guy who blew the whistle on the failures at HBOS put half the blame on the lack of regulation by the FSA.

 

Yesterday Standard and Poor reaffirmed ourAAA credit rating but said they would have to review that decision if the government relaxed its austerity measures in line with Labour's ideas. The last time they did that was in April 2010 when they said we would lose our AAA rating if Labour financial rescue plan were to be implemented following the General Election.

[I1L2T3]

Well not really. The Tories wouldn't have made the Bank of England independent. They wouldn't have set up the FSA to (fail to) regulate the financial industries. They wouldn't have set on an extra 100,000 public sector worker to pay out of tax revenues and wouldn't have awarded massive pay rises to the public sector either.

I note the guy who blew the whistle on the failures at HBOS put half the blame on the lack of regulation by the FSA.

 

Yesterday Standard and Poor reaffirmed ourAAA credit rating but said they would have to review that decision if the government relaxed its austerity measures in line with Labour's ideas. The last time they did that was in April 2010 when they said we would lose our AAA rating if Labour financial rescue plan were to be implemented following the General Election.

 

Under the Tories we had numerous regulatory failures after 1986. Barings, BCCI, the Polly Peck scandal. Why Labour thought it could give the financial industry even greater freedom I'll never know. Then again Labour had to get them onside somehow for 1997. Maybe it was the price they had to pay.

 

We've lost our AAA rating. It seems a bit sad and desperate to cling to the crumb of comfort that we haven't been downgraded by all the agencies yet. Although I'm surprised the spin machine didn't think of that one yet.

[tinfoilhat]

So, are we agreed that all these bankers who caused so much trouble really aren't worth their monumental salaries? Or are there still some poor saps who believe that the country will collapse without their massive brains?

 

Whilst I think several big wigs of the financial sector need to do jail time, the financial sector does give us alot of tax revenue. If we are going to kill it, what will replace it with?