Re: banks/money/etc

pete <no-one@xxxxxxxxxxx> wrote:
On Tue, 30 Sep 2008 12:17:26 +0100, Sir Krustov wrote:
Where and when did the trouble start ? .

ans: america, a few years ago

With banks going tits up or bailed out and billions being lost on the
stock market etc - could the situation have been prevented .

yes - inasmuch as the effect on the UK could've been much smaller

'a stitch in time saves nine'

Do you think it was greed by the bankers who where more interested in
how much money they could make rather than what could happen if they
ignored the warning signs .

More likely greed on the part of the shareholders. Most of the "banks"
that got into trouble used to be building societies and turned into
banks when their owners (i.e. the people who had savings in them)
realised they could make a few £hundred in windfall shares. Once the
socs. had shareholders they had to make greater returns to keep the
share price up - hence the move into risky investments.
The one b/s that resisted the move was Nationwide.

Yep, I've had to vote against demutualisation three or four times in the
past 10 years. Each time I voted against money in the pocket today rather
than security in the future. I win :-)

IIRC, building soc rules limit the risks they are allowed to take in the
money markets. It was this restriction that was lost when a building soc
became a bank.

--
2001 Census: 1 in 7 people in the UK is a declared atheist.
.

Relevant Pages

  • Re: Metronet in trouble
    ... administration and be sold on to an organisation or consortium who are ... be sitting with the respective company's shareholders, not the banks. ... The banks lent Metronet's shareholders the money with full knowledge ...
    (uk.railway)
  • Re: The Economic Collapse is gathering pace.
    ... they have little money. ... The reason why banks are not lending in what the government considers ... responsibility to their ordinary shareholders. ... voting preference shares with the declared intent of keeping at arms ...
    (uk.politics.misc)
  • Re: O/T - Lloyds wins second case against unfair bank charges
    ... I hope the banks do start to ... The charges are a licence to literally print ... It might be a licence to print money but shareholders have become used to ... The sooner bankers and their shareholders get frigged the better IMO. ...
    (uk.media.tv.misc)
  • Extraordinary Times, Intentional Collapse, and Takedown of the U.S.A.
    ... Much has been written about whether a worldwide plan exists to control ... It was this elite, acting through Western banks, which appears to have ... destroy the Russian nation after the fall of the Tsarist regime at the ... Lending of money at interest was often left to the European Jews, ...
    (rec.martial-arts)
  • TURMEL: Ben Franklin, Prof. Flaherty, on Death gamble
    ... adequate money in circulation for the needs of the economy. ... pay, to anyone. ... In 1913, other plates were given to the banks, ... would then have enough money to pay the rest of the loan. ...
    (sci.econ)