Well they could start by letting the bubble that caused
all this burst instead of falsley propping it up. In the US, Spain, Ireland house prices have plummeted to represent their true worth. Trouble is we now all know that MP's were part of the whole property bubble against which money was lent and the super rich became uber rich and they will do anything to prop up prices because the banks are scared stiff of defaults. What should've happened is:-
1. There should've been arrests made in banking where there were obviously dodgy dealings that led them to get in the mess (for example Libor).
2. One or more of the big banks should've been either allowed to go bankrupt OR nationalised but NOT propped up by the tax payer (deposit accounts could've been protected by the tax payer).
3. The bubble against which all this cash was loaned should've been allowed to burst.
What did happen is that a few people made huge amounts of money and then walked away from the whole disgraceful debacle with their wad and allowed the taxpayer to pick up the pieces. Trouble is that what came out in the MP expenses scandal was evidence that they were also benefitting from it and thus had no appetite to go after the perpetrators.
If what had happened in the UK had've happened in a South American country our politicians would've been queueing up to cry corruption and 'banana republic'. As it was they've done next to nothing to bring the guilty to account.
There. got that off my chest!
Posted By: Chopper on December 5th 2012 at 15:04:06
Message Thread
- Lets face it, none of them have the first clue how sort this economy out. (General Chat) - tudders, Dec 5, 14:18:34
- Well they could start by letting the bubble that caused (General Chat) - Chopper, Dec 5, 15:04:06
- probably the only real solution (General Chat) - Worzel Scrimmage, Dec 5, 15:34:42
- this ^^^ (n/m) (General Chat) - phrankin, Dec 5, 16:37:00
- going brilliantly so far with a set of right wing-corporate loving cunts in govt. (General Chat) - Worzel Scrimmage, Dec 5, 17:36:09
- this ^^^ (n/m) (General Chat) - phrankin, Dec 5, 16:37:00
- And all the while, politicians are still fiddling expenses, they've just passed law (General Chat) - pants, Dec 5, 15:30:39
- probably the only real solution (General Chat) - Worzel Scrimmage, Dec 5, 15:34:42
- So is borrowing going up, down or staying the same? (General Chat) - Huge Small, Dec 5, 14:27:49
- Depends if you factor in the asset realisation/acquisition premium. (General Chat) - tudders, Dec 5, 14:33:17
- Even though they've got lots of money and are helping everybody? (n/m) (General Chat) - pants, Dec 5, 14:21:23
- You could always stand for election yourself. (General Chat) - tudders, Dec 5, 14:23:52
- to indirectly stimulate the economy (General Chat) - essexcanaryOTBC, Dec 5, 14:38:23
- No good sitting around moaning is it? (General Chat) - tudders, Dec 5, 14:41:56
- I know, I just thought I'd make something up (n/m) (General Chat) - pants, Dec 5, 14:38:05
- to indirectly stimulate the economy (General Chat) - essexcanaryOTBC, Dec 5, 14:38:23
- You could always stand for election yourself. (General Chat) - tudders, Dec 5, 14:23:52
- Well they could start by letting the bubble that caused (General Chat) - Chopper, Dec 5, 15:04:06
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