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Originally posted by OknotOK
Not entirely. Lehman was allowed to go to the wall - a deliberate choice given it was deemed to not be too systematically important. Comparisons to Iceland are mostly spurious given the size etc but there are some lessons to be drawn from the way they treated the banking sector. I've read through the stress testing report and the scenario looks like a step change in severity given previous incarnations (and I've worked on stress testing at some banks in previous years). It would be a truly global and severe recession that would create the scenario they have used so some banks failing isn't surprising. But then RBS coming out worst is also not a surprise and their share price reflects that. Further cost cutting and asset run offs have to be the only viable option for them to build up their £2bn shortfall given the bank continues to be loss making. In fact I heard from a friend who works there that quite a few were put at risk in the last week, plus most of the old RCR division are going either by the end of the year or end of Q1 next. The point is that you can't really politicise this.
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Originally posted by Hrolf The Ganger
The point is that you can't really politicise this. Maybe so. But Hoof did exactly that by stating that "Brown fcuked up bigtime" re Lloyds/HBOS. And it was still a political judgement. Do you think Corbyn would have bailed out the banks had he been in power (however unlikely)?
"It's almost like a moral decision. Except not really cos noone is going to find out," Jez, Peep Show |
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| .TUX. |
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Originally posted by Hrolf The Ganger
Well the experts disagreed in both the US and Britain. Banks lend money and without that people can't spend. That's bad for an already struggling economy. Forgive me if I don't take the HOL expertise as seriously as you would like. If they are that bloody good then why, once again, do we find ourselves in the same bloody situation today Sherlock? Because they toe the line, that's why. Fk me mate, it's hardly quantum physics!
Buy Litecoin. |
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Originally posted by OknotOK
Not entirely. Lehman was allowed to go to the wall - a deliberate choice given it was deemed to not be too systematically important. Comparisons to Iceland are mostly spurious given the size etc but there are some lessons to be drawn from the way they treated the banking sector. I've read through the stress testing report and the scenario looks like a step change in severity given previous incarnations (and I've worked on stress testing at some banks in previous years). It would be a truly global and severe recession that would create the scenario they have used so some banks failing isn't surprising. But then RBS coming out worst is also not a surprise and their share price reflects that. Further cost cutting and asset run offs have to be the only viable option for them to build up their £2bn shortfall given the bank continues to be loss making. In fact I heard from a friend who works there that quite a few were put at risk in the last week, plus most of the old RCR division are going either by the end of the year or end of Q1 next. Which was the case with Northern Rock. The new stress test is more like an end of days scenario than anything realistic it would seem.
Optimistic as ever |
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Originally posted by .TUX.
If they are that bloody good then why, once again, do we find ourselves in the same bloody situation today Sherlock? Because they toe the line, that's why. Fk me mate, it's hardly quantum physics! 'experts' like the Bank of England for example we need closure with their independence.
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Originally posted by .TUX.
If they are that bloody good then why, once again, do we find ourselves in the same bloody situation today Sherlock? Because they toe the line, that's why. Fk me mate, it's hardly quantum physics! Better than what? Of course they toe the line, it would be naive to think otherwise, but you are second guessing people who had the bigger picture. I would not be so foolish as to assume I know better. We can all have an opinion but if you think you are qualified to judge the decisions, then that's great.
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| Hoof Hearted 03 Dec 16 10.25am | |
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#forallhisflaws This campaign made me laugh.... missed it initially, but HIGNFY highlighted it last night. Some of the tweets have been hilarious.
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Originally posted by Hoof Hearted
#forallhisflaws This campaign made me laugh.... missed it initially, but HIGNFY highlighted it last night. Some of the tweets have been hilarious. Brilliant. It does show how narrow minded certain people are. Quote
“it’s quite difficult” to get past allegations of brutality made against Fidel Castro. Fcuking hell, you lot can't even get past someone's dad having offshore investments. Quote
Indefensible human rights abuses but Castro created society equality, free health & education,international solidarity despite USA siege Seems quite sensible in comparison. Edited by johnfirewall (03 Dec 2016 10.52am)
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Originally posted by Hoof Hearted
#forallhisflaws This campaign made me laugh.... missed it initially, but HIGNFY highlighted it last night. Some of the tweets have been hilarious. We all know what Corbyn is. No surprise at all that he would praise Castro. That's why he will never be Prime Minister.
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| legaleagle |
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Yup,far better to have a PM like Maggie who would praise a true humanitarian and world statesman like Allende,no?
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Originally posted by legaleagle
Yup,far better to have a PM like Maggie who would praise a true humanitarian and world statesman like Allende,no? Sometimes you have to make diplomatic noises toward scumbags.
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| legaleagle |
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Yes,but Maggie went somewhat beyond making "diplomatic noises" to the scumbag in question
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Originally posted by legaleagle
Yes,but Maggie went somewhat beyond making "diplomatic noises" to the scumbag in question You have to remember the Falklands and the wider politics involved.
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| nickgusset |
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Originally posted by Hrolf The Ganger
We all know what Corbyn is. No surprise at all that he would praise Castro. That's why he will never be Prime Minister. Lily?
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Originally posted by legaleagle
Yes,but Maggie went somewhat beyond making "diplomatic noises" to the scumbag in question We could all trot this stuff out. Like the reports that emerged this week of 'statesman' Ken Livingston's aides cheering when 9/11 happened. However, Legal, it displays a lack of depth when debating matters.
"That was fun and to round off the day, I am off to steal a charity collection box and then desecrate a place of worship.” - Smokey, The Selhurst Arms, 26/02/02 |
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| .TUX. |
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Originally posted by Hrolf The Ganger
Better than what? Of course they toe the line, it would be naive to think otherwise, but you are second guessing people who had the bigger picture. I would not be so foolish as to assume I know better. We can all have an opinion but if you think you are qualified to judge the decisions, then that's great. Hardly. I asked why, if they were that good, are we in the same (if not worse!) position than before? A question you've chosen to ignore.
Buy Litecoin. |
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Originally posted by .TUX.
Hardly. I asked why, if they were that good, are we in the same (if not worse!) position than before? A question you've chosen to ignore.
I believe the term is hindsight. Can you be sure that we are worse off? The banking system is not something I can claim to be an expert on.
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| jamiemartin721 |
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Originally posted by Hrolf The Ganger
You have to remember the Falklands and the wider politics involved. To an extent, of course by the time we were harbour Pinochet, he was a spent force, with minimal political value to us in terms of global politics. Necessary evils are only as good as their immediate value. In terms of the international political scene, the right decision was to hand him over, and capitalise on that. Dictators may be useful, and occasionally necessary evil, but they don't deserve loyalty and protection when their value has expired.
"One Nation Under God, has turned into One Nation Under the Influence of One Drug" |
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| jamiemartin721 |
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Originally posted by Hrolf The Ganger
I believe the term is hindsight. Can you be sure that we are worse off? The banking system is not something I can claim to be an expert on. The UK was in an almost unique historical position, and made the right decision. Not bailing the banks out would have created unknowable and unpredictable consequences, that included catastrophic destruction of the UK economy, and a knock on effect to the world economy. Even in hindsight, the decision to take the predictable outcome, of a financial hit, loss of confidence but with the assurance of stability only the state could provide was the right one. Had those banks gone to the wall it was entirely plausible that their collapse would have hit the banks that didn't need to be bailed out and ripped through the UK financial interests (which is our primary economic generator). The entire economic status of the UK wasn't worth risking. Now some of the decisions around that bail out can be questioned - but not the idea of ensuring an entirely unpredictable and possibly totally devastating outcome didn't occur
"One Nation Under God, has turned into One Nation Under the Influence of One Drug" |
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Originally posted by jamiemartin721
To an extent, of course by the time we were harbour Pinochet, he was a spent force, with minimal political value to us in terms of global politics. Necessary evils are only as good as their immediate value. In terms of the international political scene, the right decision was to hand him over, and capitalise on that. Dictators may be useful, and occasionally necessary evil, but they don't deserve loyalty and protection when their value has expired. You could argue that, but you could also recognise the importance of sending out a message to any potential future allies that you don't abandon them when they are in need. The British do have rather a bad reputation for duplicity.
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