The Economic Crisis

[BradNaylor]

Me, I blame the bankers.

Greedy, amoral, perncious twunts...



...the lot of them.


I hope they all lose their jobs and starve.


Any other non-political comments?

Dan

 

[Rich]

I'd love to answer but I dare'nt

Rich.

 

[BradNaylor]

I'd love to answer but I daren't

Rich.

Oh go on, Rich...




...you know you want to!


Dan

 

[Rich]

Yes, and everyone else knows I want to, but the Mods don't like it when I express an opinion and some of the members don't like it also, so for an off topic forum, I'm disappointed that politics are not allowed, even though it is possible to have an alternative view without falling out with each other, we are adults after all.

Rich.

 

[Tusses]

well I agree with the w / sorry / bankers

but dont forget the government !

and the media !

I'm feeling it a bit, hope it doesn't last too long

I'm ok for a bit, but not alot !

just sold an 11K VW camper for 7K :shock:

more of the same to follow until things pick up :evil:

 

[Rich]

C'mon folks, the more that express an opinion the more it will become acceptable and the more we will be able to debate topics in a civilised manner.

Rich.

 

[BradNaylor]

just sold an 11K VW camper for 7K :shock:

Unfortunately Tusses old chap, it's not an 11k camper anymore.

It's a 7k camper.

So you did OK!

Welcome to the new world created by the bankers.

Dan

 

[Grinding One]

I think the bankers are doing the best they can to make money,heck just ask them....loan money to folks to buy tools then forclose on them when they lose their jobs and resell products for more money and charge new guy more interest....works for them....
On the other note Governments just print more money were not broke we still have ink and paper

 

[RogerS]

Agree with you up to a point.

But...did anyone have a fixed rate mortgage? If so then chances are that that was funded via the very financial vehicles that are getting everyone so vexed.

Anyone with a 100% (or higher) mortgage? Ditto.

 

[Losos]

C'mon folks, the more that express an opinion the more it will become acceptable and the more we will be able to debate topics in a civilised manner.
Rich.

I can't recall seeing any posts from you that were OTT so please do say what you want. Especially if you have some insider information.

I just found out the difference between 'shorting' stocks and 'naked shorting' and I'm very unhappy about the whole practice especially the 'naked shorting'

I assume people reading this do realise that your pension fund is 'lending' the shares they own (Which are really your shares of course) to other people purely so that those other people can sell them short, buy back latter, and make a tidy profit. having made their dosh they hand the shares back to your pension fund and guess what they are worth less than they were before. i.e. your pension fund suddenly becomes worth less :evil:

The bottom line is IMO that all these finacial whizz kids on Wall Street and in London really don't know what they are doing, seriously they don't know.

You would have thought that people would learn from Barings where it became clear that what Nick Leeson was doing was totally not understood by his bosses in London.

Can you name any other proffession where the top managers have no idea what they are doing, what risks they are taking, what the potential dangers are, yet they still pay themselves huge salaries, and I mean millions per annun. It's crazy, things have to change.

 

[mailee]

Can you name any other proffession where the top managers have no idea what they are doing, what risks they are taking, what the potential dangers are, yet they still pay themselves huge salaries, and I mean millions per annun. It's crazy, things have to change.

Yes politics! :evil:

 

[Digit]

If you stand back and look at the idea of buying and selling shares the whole edifice is rotten in principle.
A company sells shares in itself to raise cash, in return you receive a sum paid at regular intervals based on the company's profits.
The commercial buying and selling can on occasion have nothing what so ever to do with that company's standing.
The whole set up is artificial and creates nothing for the common good.
If shares had to be bought from a company agent and could only be returned to the company if you wished to dispose of the certificates none of this would have happened.
Remember this?

http://en.wikipedia.org/wiki/Poseidon_bubble

The market is an artificial creation where individuals lose all moral values.
Here endeth the lesson.

Roy.

 

[MIGNAL]

Me, I blame the bankers.

Greedy, amoral, perncious twunts...



...the lot of them.


I hope they all lose their jobs and starve.


Any other non-political comments?

Dan

Let's get serious. They ain't ever going to starve. They may lose their current job but you can bet your life savings (probably equivalent to 1 weeks pay of theirs) that they'll be quickly rewarded by being head hunted.
So the cycle continues.

 

[RogerS]

So what do you guys suggest is put in place instead of the current system?

Ten year wait for a Trabant?

 

[Digit]

Can you remember what the wait used to be for a British car Rog, and they were still buying and selling fresh air at that time?
I'm certainly no expert on this subject but precisely how would ICI suffer if their shares were not bought and sold as a commodity?

Roy.

 

[Rich]

I know it's none of my business but I'd like to know how many MP'S had shares in northern rock and other multinationals that hold us to ransom, how many MP's have shares in the utilities and the forthcoming privatisation of royal mail?, in an "economic crisis" MP's seem to be bullet proof, how can this be? is this why they are so far removed from reality?
Are they the ones with insider information that they crucify the city for doing the same? shame on them if that's the case, I know it's only supposition, but I do wonder sometimes. :wink:

Regards,

Rich.

 

[cambournepete]

But...did anyone have a fixed rate mortgage? If so then chances are that that was funded via the very financial vehicles that are getting everyone so vexed.

I do have a fixed rate mortgage (with Nationwide).
Care to explain why this is all my fault?

Don't forget that although i know what i'm paying each month I'm gambling that the rates don't drop too far...

 

[Digit]

I can't see how trading in company shares finances a mortgage, or anything else for that matter.

Roy.

 

[Jake]

If you stand back and look at the idea of buying and selling shares the whole edifice is rotten in principle.
A company sells shares in itself to raise cash, in return you receive a sum paid at regular intervals based on the company's profits.
The commercial buying and selling can on occasion have nothing what so ever to do with that company's standing.
The whole set up is artificial and creates nothing for the common good.
If shares had to be bought from a company agent and could only be returned to the company if you wished to dispose of the certificates none of this would have happened.

And we wouldn't have the sophisticated economy that we have.

Companies need capital, and they need it on a huge scale. They wouldn't have it if their shares were illiquid.

It's easy to condemn everything in times of turmoil.

 

[Digit]

Correct me if I'm wrong Jake, for as I said I'm no expert here, but how does a company benefit from the trading of shares?
If I buy into a company share issue at say five pounds per share, and a few months later they are being traded on the market at six pounds per share, what does the company get, anything?

Roy.