Quote by GnV
Absolutely correct Dave - Guls is the archetype Pub doomsday merchant - all doom and gloom and never offering a theory as to how to get a solution. Everyone has theories and opinions and it is healthy to debate the merits and downsides of them all. Unfortunately Guls simply posts the same Doomsday theory in every post he makes without even a whiff of a suggestion as to a theoretical response. I have known other people on other forums do this and it was as a result of quoting something they had read and/or seen which looked good but they did not fully understand it therefore were unable to debate it.
If pressed, Guls will probably subscribe to the theory that the whole Irish situation can be resolved over a glass (or two) extra of Guinness per day as the extra tax and duty paid will contribute significantly to the debt reduction. :grin:
Perhaps, But tell me what kind of system do we have where those responsible for the majority of the problems facing western economies i.e. Financial services institutions are bailed out with taxpayer money, subsidised via 0 percent interest rates while the common man's savings are eroded through inflation?
To add insult to injury, top executives and traders at these firms are actually being rewarded by companies removing off their balance sheets billions and paying it to themselves as bonuses - while divdends are cut and Enron style accounting is used on their balance sheets to show "profits".
Although the poster did not offer a solution, he is pointing out what is wrong. My point is if the vast majority of the public were aware of the scale the fraud that was occurring, and it was not mistakenly described as "banker bashing" there would be riots in the square mile every day.
Do you honestly believe there was no other solution? How about if the government made whole all deposits (not credit) in these banks(Yes 100..percent) and let the banks fail. That would have cost a fraction of this "bailout".
Interestingly, RBS has a £53bn in exposure to Irish debt and Lloyds/HBOS has 27bn, which is why our government is giving money to Ireland. Of course Cameron and co will spin it as helping out our merry Irish neighbours (in fact most Sun and Dail Mail readers and editors will believe this) but really it's bailout Part Deux for Lloyds and RBS. Of course in November when RBS made a loss of , compensation ratio increased from 25 to 34 percent of revenue..good work lads.
I wish what I was writing were absolute lies, but you couldn't make up a story in economic terms more morally repugnant than the truth. Labour or Conservatives? What does it matter? Money is their God, so the Bankers will always run this country.
Sorry for a moment..I forgot this was a swingers site!
