Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,948
#1
Today the Governor of the bank of England is warning the banks have not altered and are still putting profits before customers.
He is warning that a financial crisis is on the horizon unless the banks control themselves, or the government don't take action.
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Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
#2
You might note that our beloved chancellor young George Osborne, gosh I nearly called him George Orwell there, has been very quiet lately. Rumour has it that he is working away diligently on his upcoming Budget and his Orwellian reforms for growth. He has been criticised for having no plans for growth. He aims to put that right.
This will of course at the same time allow him to give the banks a bit of a financial kicking in order to lend money to an economy in the doldrums and kickstart this growth. But will he do it?? Thats the 64 dollar question.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,948
#3
Your right paulb
I don't think george has the bottle, how the banks have got away with this for so long with the state the countries in is beyond me.
And this cobbled together govt is making no mover to sort it out
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Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
#4
What a dream world you lefties live in.....
George Osborne has returned to the traditional purdah that Chancellor adopted pre-budget until Brown. Good for him.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,948
#5
I presume by your posting you disagree with the Governor of Bank of England
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
#6
I disagreed with him back in 1982 when he, along with over 300 other economists, wrote to the Times attacking Geofrey Howe's budget. he was proved wrong then by events and I was right....
But today I see nothing really to disagree with him on. What I disagree with is the left wing silliness in the comments coming from you and PaulB. The Bank of England should never have been removed from its oversight of the banks by Brown in 1997. They were left free to do what they wanted actively encouraged by Brown so as soon as the cyclical slowdown started their exposure to the US turned a problem into a real crisis.
Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
#7
I was unaware of any Chancellors purdah prior to a budget....maybe he's concentrating on how he can reduce the tax levy on oil prices..as indicated by his school chum.
Marek
I think therefore I am (not a Tory supporter)
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
#8
i doubt that the chancellor will do anything on fuel taxes, the exchequer is too reliant on the income.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
#9
i have allso heard about this warning from mervin king,rather disturbing.
paulb,you may be right about george osborne,i have heard he has two frinds called zippy and bungle.
Unregistered User
#10
Seems simple to me folks.
Mervyn King takes over the regulation banks from the FSA from April.
He is putting an early "shot across their bows".
Clever stuff.
Doubt the Chancellor is disturbed by this one.
Watty
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,948
#11
crisis looming
banks won't change
this govt clearly frightened to take them on
more probs stored up for the future
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howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
#12
no doubt keith will get hammered by the last post, the truth is that he is saying what most people think.
the overwhelming view is that bankers are feather bedded whilst the rest of the population is hurting.