• Welcome to the ShrimperZone forums.
    You are currently viewing our boards as a guest which only gives you limited access.

    Existing Users:.
    Please log-in using your existing username and password. If you have any problems, please see below.

    New Users:
    Join our free community now and gain access to post topics, communicate privately with other members, respond to polls, upload content and access many other special features. Registration is fast, simple and free. Click here to join.

    Fans from other clubs
    We welcome and appreciate supporters from other clubs who wish to engage in sensible discussion. Please feel free to join as above but understand that this is a moderated site and those who cannot play nicely will be quickly removed.

    Assistance Required
    For help with the registration process or accessing your account, please send a note using the Contact us link in the footer, please include your account name. We can then provide you with a new password and verification to get you on the site.

The failure to curb banks if a failure of Government itself

Dont need one mate. As a right winger an long time supporter of Maggie Thatcher, i've made so much money i ant give it away. Loans are for poor people.

I have an image of Harry Enfield playing a plasterer in the late eighties. :happy:
 
Last edited:
That article is typical of the trash that columnists of all newspapers produce more often than not. He says nothing; there is not a single suggested regulation that he would like to see.

I do sometimes wonder whether the nature of the regulation even matters to such people just as long as there are some regulations imposed.
 
That article is typical of the trash that columnists of all newspapers produce more often than not. He says nothing; there is not a single suggested regulation that he would like to see.

I do sometimes wonder whether the nature of the regulation even matters to such people just as long as there are some regulations imposed.

Exactly. Like it or not the Financial services sector brings in a lot of tax revenue and employs a lot of people.

Without it what would we do-go back to making Austin Allegros?
 
look, if you don't want the banks to speculate , then expect them to make enough money to cover their costs by the day to day banking operations.

But don't expect free banking, free overdrafts, interest free offers , cheap loans etc.

Some years ago they found out a way of making money which meant that they could offer free banking services to the public , which inturn gave them more funds to invest, then they found they were rather good at it.

A couple of them got caught up in some risky deals in America, Joe public (the one getting free banking / overdrafts etc for years) panicked and pulled their money causing the banks to seek help.

If you don't like the way they operate , find a bank who does not operate in the futures , deritavies etc markets and bank there .

Then come on here and complain about bank charges , interest rates etc
 
Dont need one mate. As a right winger an long time supporter of Maggie Thatcher, i've made so much money i ant give it away. Loans are for poor people.

Nor do I fortunately.But that's not really the point,is it?We keep on hearing that small and medium sized businesses are the lifeblood of the country(both in the UK and here).If that's true and they can't get a loan when they need it,where's the recovery going to come from?
 
Last edited:
look, if you don't want the banks to speculate , then expect them to make enough money to cover their costs by the day to day banking operations.

But don't expect free banking, free overdrafts, interest free offers , cheap loans etc.

Some years ago they found out a way of making money which meant that they could offer free banking services to the public , which inturn gave them more funds to invest, then they found they were rather good at it.

A couple of them got caught up in some risky deals in America, Joe public (the one getting free banking / overdrafts etc for years) panicked and pulled their money causing the banks to seek help.

If you don't like the way they operate , find a bank who does not operate in the futures , deritavies etc markets and bank there .

Then come on here and complain about bank charges , interest rates etc

The Co-op are pretty good.At least they have an ethical banking policy.That's why I bank with them(in the UK).I notice they weren't one of the banks that Joe Public had to bail out last time round either.:soapbox:
 
look, if you don't want the banks to speculate , then expect them to make enough money to cover their costs by the day to day banking operations.

But don't expect free banking, free overdrafts, interest free offers , cheap loans etc.

Some years ago they found out a way of making money which meant that they could offer free banking services to the public , which inturn gave them more funds to invest, then they found they were rather good at it.

A couple of them got caught up in some risky deals in America, Joe public (the one getting free banking / overdrafts etc for years) panicked and pulled their money causing the banks to seek help.

If you don't like the way they operate , find a bank who does not operate in the futures , deritavies etc markets and bank there .

Then come on here and complain about bank charges , interest rates etc
Your being to kind to the banks there , they really were very close to destroying the whole structure of western finance , and many knew for years what was happing and the ridiculous nature of their speculations and money making . It was a failure on the part of many governments world wide to curtail it . No one objects to profits just not those who are akin to a man who gets log pile to keep his house warm then burns the forest to teh ground and denies people to his logpile with out paying a vast sum of money . By witch time he has enough money to leave the areas and his neighbours now have no forest or fuel to burn or cook with .
 
Your being to kind to the banks there , they really were very close to destroying the whole structure of western finance , and many knew for years what was happing and the ridiculous nature of their speculations and money making . It was a failure on the part of many governments world wide to curtail it .

Not true. Two issues. Long before the crisis Nick Leeson showed what it was like to have inadequate internal controls in place. Yes there have been the odd case since amounting to nothing less than fraud but in the main compliance and controls were in place pretty much across the board post Barings both internal and regulatory. Nobody and I mean NOBODY truly understood a CDO and similar assets. Even the greatest minds all the way to the top and way beyond compliance and regulators were sucked in under a massive mis-selling of the product. It is no good looking back with rose tinted glasses. It was only when a few bright people started speculating against these instruments and others started raising concerns to the authorities that the scale of global exposure of liabilities against next to no assets started to become apparent. If they'd have stepped in then the world would actually be in a much worse position than it currently is. The unravelling of the markets was actually done with careful consideration and planning over a course of months while support facilities for key players under strict conditions were put in place. There was actually no need for Lehmans to go under but unlike Bear Stearns there was no $1 offer available and their exposure was bad, but not as bad as others at that time. By forcing the issue the Fed calculated that if they lost Lehmans the Market would survive. Had they not forced the issue a bigger player would have inevitably have gone and for markets that would have been akin to Armageddon.

No it is not a pretty picture but then again geeks and graduate analysts (supposed uber mathematicians) will never have the same powers again and the Market, whether dictated to by regulation or not have their speculative abilities capped. There will be another cycle in our lifetime but that is the nature of capitalism.

Without the benefits the banks have brought to society in the last 20 years we wouldn't be sitting here in a low interest rate world worried about losing the odd luxury. We would not have had many of those luxuries in the first place.

Unfortunately half truths perpetuated by media are devoured by the uneducated. If argue that it is worse for the country not to spell out exactly why we need the banks rather than the sensationalist headline grabbing.

Incidentally I'm not a fan of the massive bonus culture. I am a fan of the idea to have bonus deferred and released only by years of service. The fundamental flaw in that argument is all that will happen is much bigger golden handshakes based on future lost bonuses unless these can be outlawed. Very difficult as legal lawyers will always find a loophole if the business need is there.

Scrap the bonuses and cap salaries = mass exodus. There are many major banks and broker dealers that have already produced relocation scenarios and not just high level wishy washy hyperbole. THAT ladies and gents wiifm be a disaster with implications far beyond the financial sector.
 
Not true. Two issues. Long before the crisis Nick Leeson showed what it was like to have inadequate internal controls in place. Yes there have been the odd case since amounting to nothing less than fraud but in the main compliance and controls were in place pretty much across the board post Barings both internal and regulatory. Nobody and I mean NOBODY truly understood a CDO and similar assets. Even the greatest minds all the way to the top and way beyond compliance and regulators were sucked in under a massive mis-selling of the product. It is no good looking back with rose tinted glasses. It was only when a few bright people started speculating against these instruments and others started raising concerns to the authorities that the scale of global exposure of liabilities against next to no assets started to become apparent. If they'd have stepped in then the world would actually be in a much worse position than it currently is. The unravelling of the markets was actually done with careful consideration and planning over a course of months while support facilities for key players under strict conditions were put in place. There was actually no need for Lehmans to go under but unlike Bear Stearns there was no $1 offer available and their exposure was bad, but not as bad as others at that time. By forcing the issue the Fed calculated that if they lost Lehmans the Market would survive. Had they not forced the issue a bigger player would have inevitably have gone and for markets that would have been akin to Armageddon.

No it is not a pretty picture but then again geeks and graduate analysts (supposed uber mathematicians) will never have the same powers again and the Market, whether dictated to by regulation or not have their speculative abilities capped. There will be another cycle in our lifetime but that is the nature of capitalism.

Without the benefits the banks have brought to society in the last 20 years we wouldn't be sitting here in a low interest rate world worried about losing the odd luxury. We would not have had many of those luxuries in the first place.

Unfortunately half truths perpetuated by media are devoured by the uneducated. If argue that it is worse for the country not to spell out exactly why we need the banks rather than the sensationalist headline grabbing.

Incidentally I'm not a fan of the massive bonus culture. I am a fan of the idea to have bonus deferred and released only by years of service. The fundamental flaw in that argument is all that will happen is much bigger golden handshakes based on future lost bonuses unless these can be outlawed. Very difficult as legal lawyers will always find a loophole if the business need is there.

Scrap the bonuses and cap salaries = mass exodus. There are many major banks and broker dealers that have already produced relocation scenarios and not just high level wishy washy hyperbole. THAT ladies and gents wiifm be a disaster with implications far beyond the financial sector.

Hmm actually the many years bit probably covers way back to the early 80's and anyone with a half understanding of economics knew that the perpetual pursuit of endless profit was idiotic. Also you contradict yourself in saying Geeks and uber mathematics (who mainly work in Physicist and really couldn't give a **** about finical markets , who haven't brought us teh greatest inventions of the last hundred years they just market them in a profitable way (I point you to Tesla and JP Morgan of the 1930's again !). Heres an odd idea a lot of peopel don;t grasp on this forum is , the people who invented the amazing stuff we did , did so for ... the invention of it , their profit was the creation of the product/method/forum etc .

There's no where to go this time unless they want to work and run in China/India , and they already have their own work force . Here's the thing the bankers , financial people also realised that they not as great or important as they think with out mainting their own systems.
Peope i know in teh city are saying no ones going anywhere and they are getting less bonuses and moaning about either smaller or less pay rises . They know the worlds not as easy a place to hide out in any more . Why you you think the UK is trying to turn itself into a tax haven .http://www.taxresearch.org.uk/Blog/...ent-expands-its-plans-to-become-tax-haven-uk/
 

ShrimperZone Sponsors

FFM MSPFX Foreign Exchange Services
Estuary MFF2
Zone Advertisers Zone Advertisers

ShrimperZone - SUFC Player Sponsorship

Southend United Away Travel


All At Sea Fanzine


Back
Top