Bankers Blamed For Astonishing Mess
Posted by Y ddraenen from Aberdare on the 1st May 2009
They couldn't have done it on their own! Politicians of all shades colluded in this debacle, going right back to 1979 when Thatcher came to power and immediately started to remove all the safeguards that kept the banks in line. Once you give a mad dog enough chain it'll bite at everyone and everything within its range. So it's no good the politicians blaming the bankers alone; they too led us down the garden path.
We as willing consumers must also shoulder some of the blame for our own debts. We were only too happy to go along with the have now, pay later mindset.
http://uk.news.yahoo.com/4/20090501/tuk-bankers-blamed-for-astonishing-m...
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Could I also point out its not only the banks that were given a free run at ruining peoples lives?.
The utility companies are giving everyone a good banging by putting up prices by 50% ( because of the price of crude oil ) and have only reduced price by 10% even though the price of crude dropped by OVER 50% thus making them a nice little net gain of over 40%.
When will thier bubble burst?
Very true, onevoice, I've just received my next council tax bill, and it does not make for happy reading, espcially when we consider that our local elected incompetents have awarded themselves an increase on their allowances whilst bumping up the prices of car parking and home care charges to an unaffordable £75 per week.
If we get the government we deserve then we in Cynon Valley must have done something absolutely heinous to deserve the bunglers who run our lives here!
Rip-off Britain. Or treasure Island as foreign companies used to call us.
I was watching a good CH4 documentary on the legacy of the crunch the other day and a professor of ecomomics said that he expected negative growth to last 4 years, with unemployment reaching double figures.
The truth is, Lord Charles, that nobody, not even the economic experts themselves, has any idea how long and how deep this recession is going to be. The so-called experts are the ones who caused it in the first place, so why the hell should we believe them when they give us their opinions on how it's all going to work out?
I was in Russia in 1991, as the communist system was falling apart, and I remember one particular guy I met in a bar in Moscow who told me that Russia's main problem back then was that it had too many economists! There are as many economic theories as there are economists, so you pays your money and you takes your choice!
I'm afraid that the same applies here in the teeth of this economic storm. The ship is heading for the rocks and all the experts on board have their own ideas about which way we should be steering to avoid the big crunch. Remember how they define an expert: An ex- is a has-been and a spert is a drip, under pressure. Nuff said!
Yeah good point mate! :)
Quote of the Week
'I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.'
Thomas Jefferson 1802
How right he was! And they want us to worry about terrorists wrecking our social infrastructure. What greater damage could they do that has not already been done by our economic experts?