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Should bankers be hunted down like dogs?

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Bankers deserve everything they get
Yes, and they should go on getting it
32%
 32%  [ 12 ]
No, they should be cast into outer darkness
67%
 67%  [ 25 ]
Total Votes : 37

Jenny
860914.  Sun Oct 30, 2011 1:35 pm Reply with quote

Amazing that a newly-registered poster knows so much...

 
Efros
860925.  Sun Oct 30, 2011 1:51 pm Reply with quote

Or so little

 
Willie
860939.  Sun Oct 30, 2011 2:43 pm Reply with quote

It is more interesting that a person whose job it was to regulate the banking industry is spending more time making up poor excuses for the behaviour of bankers than explaining how he is going to actually do the job that he pointedly failed at last time and prevent them causing economic melt down again.

He mumbles on about how 'little' the bail out might cost us whilst completely ignoring the 10s of billions in tax revenues lost because of the criminal behaviour of people he was supposed to be watching. He also ignores the thousand of people who have been thrown out of their jobs through no fault of their own, not only is he ignoring the huge economic cost that that is putting on tax payers, but he is also ignoring the massive social cost that that is having on those families affected.

Both he and the weapons manufacturer seem to think that only those with nice cushy desk jobs with expense accounts should be allowed to have an opinion on what is happening and the great unwashed should doff our caps to them and thank them for the scraps off of their tables.

 
Willie
860941.  Sun Oct 30, 2011 2:45 pm Reply with quote

Oh and Jenny, it's not like you have to be a member to read the boards. Some people are quite happy to read without belonging.

 
Efros
860945.  Sun Oct 30, 2011 2:49 pm Reply with quote

So I'm guessing the Queen is to blame right or no?

 
Neotenic
860952.  Sun Oct 30, 2011 3:01 pm Reply with quote

Quote:
It is more interesting that a person whose job it was to regulate the banking industry is spending more time making up poor excuses for the behaviour of bankers than explaining how he is going to actually do the job that he pointedly failed at last time and prevent them causing economic melt down again.


I don't know who the fuck you think you are, but it is quite spectacularly arrogant to suggest any one individual is 'to blame' or has 'failed', especially when you don't have the first idea what any individual's actual job happened to be at the point of the crisis.

Suffice to say that the 'banking' regulator is in fact a financial services regulator (the clue, for the soft of head, is in the name), and as such there are a great many people that work in the organisation who don't have any involvement whatsoever in the regulation of banking sector.

And, of course, that is quite apart from the fact that the most egregious regulatory failures happened on the other side of the pond.

It's hard to be offended by things that are so tragically wrong, so I don't quite know what you were trying to achieve. Whatever it was, I think you've very probably failed. But I would hazard a guess that failing is an area in which you are well-schooled.

Better luck next time?

 
Willie
860987.  Sun Oct 30, 2011 4:43 pm Reply with quote

As a 'financial services regulator' then you would do far better spending your time making sure that the fuck ups in the financial services (as it wasn't just bankers that fucked up') don't happen again than posting drivel about people you obviously don't think should have a right to have an opinion, and are very patronising about.

As to failing, you work for a body that failed to do its job and spend half your time making excuses for people who failed (aren't you supposed to police them , not protect them). I know who has been a part of the worse failures.

 
Willie
860988.  Sun Oct 30, 2011 4:45 pm Reply with quote

No Efros the Queen is not to blame, but sorry to not fit in with your stereotypes.

 
PDR
860991.  Sun Oct 30, 2011 5:00 pm Reply with quote

Interesting that you accuse me of "making money out of defrauding the government" - please present your evidence or withdraw the remark, because otherwise I will have no option but to require the forum's owners to pass me your contact details so that I can start libel proceedings.

If you had bothered to check any facts you would have discovered that:

1. All defence contracts between the UK government and british firms are strictly "open book" on the financial aspects.

2. All defence contracts UK government and british firms have capped profit (via a set of rules called the QMAC) at a figure which is a percentage that's in single digits. Any profit made above this value must be handed back (remember - these contracts are "open book" accounted). It's not completely authoritarian because the government benevolently allow firms to make as big a loss as they wish - it's only the profit that's capped.

3. The projects in which I have been involved have received both CDL commendations and NAO "Value For Money Benchmark" awards.

4. The "Military-Industrial Complex" never really existed in the UK (it's an american term), and even this limited extent disappeared in the 80s (mostly to the country's detriment, resulting in the shameful lack of equipment investment which the military are still suffering from today).

So I must demand that you present your evidence or withdraw your accusations within the next 24 hours.

TO THE MODERATORS _ I meant what I said. This prick has made a pretty offensive accusation and if he fails to withdraw them I expect my company's legal department will be in touch for any information you have as to his identity. You will be aware of your legal liabilities and obligations in this regard.

PDR

 
Efros
860995.  Sun Oct 30, 2011 5:05 pm Reply with quote

Willie wrote:
No Efros the Queen is not to blame, but sorry to not fit in with your stereotypes.


No stereotype just one individual who blamed her for everything, and called for her assassination. You don't fit in that respect.

 
Willie
860996.  Sun Oct 30, 2011 5:10 pm Reply with quote

PDR wrote:
Interesting that you accuse me of "making money out of defrauding the government" - please present your evidence or withdraw the remark, because otherwise I will have no option but to require the forum's owners to pass me your contact details so that I can start libel proceedings.

If you had bothered to check any facts you would have discovered that:

1. All defence contracts between the UK government and british firms are strictly "open book" on the financial aspects.

2. All defence contracts UK government and british firms have capped profit (via a set of rules called the QMAC) at a figure which is a percentage that's in single digits. Any profit made above this value must be handed back (remember - these contracts are "open book" accounted). It's not completely authoritarian because the government benevolently allow firms to make as big a loss as they wish - it's only the profit that's capped.

3. The projects in which I have been involved have received both CDL commendations and NAO "Value For Money Benchmark" awards.

4. The "Military-Industrial Complex" never really existed in the UK (it's an american term), and even this limited extent disappeared in the 80s (mostly to the country's detriment, resulting in the shameful lack of equipment investment which the military are still suffering from today).

So I must demand that you present your evidence or withdraw your accusations within the next 24 hours.

TO THE MODERATORS _ I meant what I said. This prick has made a pretty offensive accusation and if he fails to withdraw them I expect my company's legal department will be in touch for any information you have as to his identity. You will be aware of your legal liabilities and obligations in this regard.

PDR


I will withdraw it as I most definitely went too far and I apologise.

 
PDR
861007.  Sun Oct 30, 2011 6:36 pm Reply with quote

Fair enough - nothing like some facts to ruin a cathartic rant...

:-)

PDR

 
Lukecash
861032.  Sun Oct 30, 2011 10:26 pm Reply with quote

I'm not sure what happened in England with your version of what happened. Just by PDR post, it seems that you guys have a better handle on your government contract.

America unfortunately, had a great scam pulled on us, and that is why there are so many Occupy Wall Street protests.

IMHO, the financial institutions in America are either too big to bring down/fail or are in fact...above the law. No one has been held accountable or arrested for the trillions of dollars lost, nor the hundreds of millions of lives ruined by this disaster.

Many are looking towards the fact that since Gerald Ford did not allow the punishment of Nixon, that the powerful feel free to get away with crimes. From Kissinger, Caspar Wineberger to the breaking of the Geneva Convention from our CIA and W. Bush Administration- there is the feeling in America, that the concept that we are all equal under the law is fading fast.

 
gruff5
861035.  Sun Oct 30, 2011 11:42 pm Reply with quote

I'm not sure about "defence" (more accurately "offence" or "commercial weaponry") contracts, Lukecash. The situations on either side of the pond are different, but there is plenty of dodgy goings on on the UK side. The biggest "defence" contract in history is the Al Yammah contract between UK and Saudi Arabia. In 2010, BAE Systems pleaded guilty to a United States court, to charges of false accounting and making misleading statements in connection with this contract. Seems to have been huge backhanders on the Saudi side as well. UK is in the top four leading arms exporters in the world. Some people here are proud of that.

The powerful here feel free to get away with things that should be crimes, but are not (the powerful make the relevant laws). At least in the USA your big guys sometimes get grilled in front of constitutional courts, even if nothing much happens to them subsequent to that bit of embarrassment.

The financial institutions have been similarly guilty here. The absolute sums are much smaller, because we're a much smaller economy. But the relative scale is not so different. London is a major financial centre and the economy has been pushed in that direction to the detriment of the UK's stability.

 
Neotenic
861074.  Mon Oct 31, 2011 4:45 am Reply with quote

Quote:
posting drivel about people you obviously don't think should have a right to have an opinion, and are very patronising about.


Everyone has a right to an opinion.

They do not, however, have a right to be taken seriously.

You are welcome to believe that everyone and anyone that may have been employed at a regulator at the time of a crisis is personally culpable - but it does rather mark you out as a simpleton that would rather rely on petty knee-jerk reactionism than any actual facts.

I know what I was doing at the time of the crisis and - more importantly - I know what I have done in the four years since the crisis, and my conscience is perfectly clear. Yup. four years. Time to move on, maybe?

I don't particuarly feel it necessary to break condfidentiality agreements to justify myself to some fucking half-wit who deludes himself enough into believing that he has the grounds to make such pronouncements as yours.

 

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