Wednesday, 4 November 2009

Public Debt, Private Profit.

"You Limey taxpayers are the best. Snooze"

Can someone explain to me why MY grandchildren are going to be paying a banker in the US after he lent money to a black man in a string vest in Ohio who could never repay it?

Taxpayer picks up the Toxics

17 comments:

Anonymous said...

"We're doing it, because if the banking system collapsed, every single one of us, the economy would come down with it. I don't think anyone would argue you ought to let that happen,"

There is nothing more to say.

Old Holborn said...

How much did the Co op bank need?

Not a fucking penny.

bofl said...

the banks should have been allowed to go bust........

it happens every day in business.....

in fact many banks deal in 'distressed debt'......

companies are restructured and if viable will be taken over by someone WITH money......

it is called capitalism.....

but brown and badger are total incompetents and have never worked in finance..they have been out manouvered by the banks all the way along............

the trouble is that finance is an ever evolving field........and brown and badger are miles behind.the fsa is the same........
all slapping each other on the backs while knowing nothing about what the banks were really doing......the banks hid many of their activities,as did AIG!!!

they should all be prosecuted as they have done exactly what nick leeson did and he got a prison term and cancer!!!!! yet he only lost less than £1billion!!!!!

but as usual ..all the top manangers said 'dont blame us' and ot away with it.

lasha said...

That is the major rub - the banking system wouldn't neccessarily collapse but they have convinced themselves and media tarts that it certainly would, and that they must strut about the globe splashing our future earnings around while wearing their pants on the outside thinking they are superheros.

It's not so much deluded as a mechanism - so long as the argument is 'We can't let the banking system collapse' people don't ask too many questions. Fear is the weapon of choice. Why won't they show their working out?

It doesn't help that at every step the Bankers are many paces ahead of the Government, exaggerating the effect a few very bad banks going under could have, picking holes in the Government's legislation and conditions of support. But that is the nature of successful people.

Until this cancer is removed from British banks they will lurch along hoovering up taxpayer money. Do we now have zombie banks, just like the Japanese have? Until we start seeing prosecutions the problem will not be on the way to being sorted. As one commentator on the telly said recently we won't see any prosecutions of bankers because the politicians and regulators would have to go down too and that can't be allowed to happen.

Mercury said...

Like i SAID, no one would prop up the bakery, why prop up the bank?
That fella on the lawn looks like one of our exports..

Anonymous said...

The first comment on this thread represents the general voice of Joe Public, who simply has not questioned the possibility that if the banks collapse, another bank, who has money, and is boyant due to sound banking practice (if there is such a thing) will simply step in and take over the bad one and although the country would still be in a bit of a mess, we would harbour nothing like the level of debt we now have, and the value of the pound would still be slightly more than a groat.

follow the money said...

I would love to give you the answer AGAIN OH but unfortunately you are incapable of digesting facts.

Ask Guthrum, surely he has the answer - not!

From now on you will have to think it through, do your own research, real research that is and you will find the truth - it's not even hard to find.

You are going to have to do it alone from now on OH for i am sick of holding your ignorant sheep like hand.

Anonymous said...

The first comment on this thread came from the mouth of Captain Darling himself I the real Anonymous simply copied and pasted, as you do.
So you are absolutely spot on the fake Anonymous.
And no I do not talk to myself any more I have a piece of paper to prove it.

scunnert said...

The collapse of the banks was not an unforeseen and unavoidable calamity. Restoring the money lost at the subprime casino was not a duty and responsibility of the nation but an act of theft perpetrated by the ultra rich against the populace at large.

BTW - not one Canadian bank needed bailed out. Funny that.

Anonymous said...

Bill Clinton (Obama's acorn mob helped) pushed through legislation to FORCE banks to lower the bar. The socialist thinking behind this was it wasn't very fair that banks turned down a lot of applications from ethnic minorities. Banks turned down applications from bad risk people. It was based on their credit score,not skin tone. Now we are paying for social engineering.
Urban11

Anonymous said...

The yanks have always taken Limeys for suckers,especially when it comes to money

Rogerborg said...

Well, we finally paid off our WWII lend-lease in 2006, so I guess they reckoned it was time to stitch us up for another few trillion.

Edgar said...

Declare bankruptcy. Tough luck on the creditors. Problem solved.

Anonymous said...

My supportive comments get continuously sent to oblivion at /dev/nul OH. You might like to change your host away from Google.

Anonymous said...

To see more reasons behind support by UK taxpayers look at:-

http://exiledonline.com/as-the-billionaires-plunder-alabama-ustroops-occupy-townsillegally/

Roger Dodger said...

What is the relevance of the man being black?

Nail hit squarely on the head OB. The Co-Op was running fine.

What we need is more banks. I repeat MORE BANKS.

Capitalism requires failure. When banks are too big to fail we are all gang fucked.

banned said...

Government robs us blind via taxes and fines, gives our stolen money to failed criminal bankers at next to zero interest. Bankers lend our stolen money back to us with outrageous interest, when they feel like it and after they have rewarded themselves bonuses. simple.

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