The Rich Get Richer 2

[Staunton 18]

If British banks bought bad loans it's because they were too greedy, and failed to do their due diligence. And the UK regulators, under Brown's watchful one good eye, were less than useless. They nodded through RBS' takeover of ABN Amro at 3 times the market rate (just because Barclay's were sniffing around too), knowing that the ABN Amro had already sold off its most profitable bank, and RBS bought not much more than a collection of bad loans for about £71 billion. And every penny of that £71 billion was borrowed. It was greed and stupidity, nothing less. Even Fred the Shred tried to stop the deal when he realised too late he had been had. And Brown's non-existent regulation of the banks allowed it to happen on his watch.

 

It seems that Jim Graham believes banks are bad and that robust regulation is essential. That is most welcome news.

[runningman1 12]

My eyesight is not what it was, I read GB. My apologies. Of course I know what the G8 is.

 

---------- Post added 20-07-2016 at 18:19 ----------

 

 

Thankyou Mr M. But don't worry, I am well used to the arrogance of some posters on here.

 

 

No you didn't, don't blame your eyes. You tried to correct him, one can tell that by the (?) You put after "GB", you then made the false claim that Germany had outperformed us.

 

Your replies to people on this topic "you obviously know very little about the circumstances leading up to the world financial crash. I suggest you do some research", was far more flippant than mine, and actually the reason I responded in the manner I did.

[Anna B 1,401]

 

 

No you didn't, don't blame your eyes. You tried to correct him, one can tell that by the (?) You put after "GB", you then made the false claim that Germany had outperformed us.

 

Your replies to people on this topic "you obviously know very little about the circumstances leading up to the world financial crash. I suggest you do some research", was far more flippant than mine, and actually the reason I responded in the manner I did.

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Well you obviously know me and all about me. Obviously even better than I know myself. I bow to your greater knowledge. You must be some kind of genius, or even psychic.... Who would have thought...

[Jim Graham 10]

It seems that Jim Graham believes banks are bad and that robust regulation is essential. That is most welcome news.

 

I have written extensively that the lack of robust regulation in other areas, as well as banking, are the cause of much of the public's dissatisfaction with and mistrust of the political classes.

[Staunton 18]

I have written extensively that the lack of robust regulation in other areas, as well as banking, are the cause of much of the public's dissatisfaction with and mistrust of the political classes.

 

We can only speculate regarding whether Jim Graham is personally dissatisfied with the lack of robust regulation, in banking and/or more generally.

 

I would suggest that the recent referendum powerfully demonstrated that populist notions were far more prominent in the minds of ordinary people than any unease relating to regulation, and that it was these notions which generated a misplaced and ultimately self-defeating backlash against the political classes.