Credit Crunch

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Darth Vodka said:
i wish, i'm 33
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My bad!

Of course, the BCCI went down in the early 90s - not the early 70s, as I stated in an earlier post.

I am really battling with these early signs of dementia.
:icon_cry:
 
The Credit crunch? Here's the deal.
The criminal ruling finance classes who have caused this crisis should be rounded up and put on trial, their assets frozen and confiscated. After the last crisis on this scale (1929 crash and 1930's depression), the result was not only economic but political crisis leading to the rise of totalitarianism and world war. The ruling classes always resort to war when they feel their control slipping or sense the masses are stirring. Thousands of people this past 15 years have been getting £1m+ bonuses for leading us to a financial cliff edge and they've now toppled their corrupt system over that edge. The proof? Look at the converse example of HSBC - they took entirely different (sound) finance decisions. The result is that they are sound, their shares down only 2% whilst the rest of the sector is down 40%-90% per individual bank. They were widely criticised by the financial classes and their Hyenas in the financial press for being too conservative - i.e for not getting on the bandwagon of all those 'sexy' high risk, high return byzantinely-complicated deals that the rest of the gaderine finance-class-swine swarmed towards.
Make no mistake - our rulers will make YOU pay, as they are already doing now. Poiticians and multi national corporations are getting nervous - and when they do they get trigger happy, especially when their remedies and solutions (the rest of society paying for their mistakes) don't work. You'd better hope their solutions do work because if they don't - YOU will be their sacrificial lambs.
 
Just cancelled two large projects at work one of which I was working on. :icon_conf My Gold holdings are up by €320 so far today. :icon_wink
 
consty said:
The Credit crunch? Here's the deal.
The criminal ruling finance classes who have caused this crisis should be rounded up and put on trial, their assets frozen and confiscated. After the last crisis on this scale (1929 crash and 1930's depression), the result was not only economic but political crisis leading to the rise of totalitarianism and world war. The ruling classes always resort to war when they feel their control slipping or sense the masses are stirring. Thousands of people this past 15 years have been getting £1m+ bonuses for leading us to a financial cliff edge and they've now toppled their corrupt system over that edge. The proof? Look at the converse example of HSBC - they took entirely different (sound) finance decisions. The result is that they are sound, their shares down only 2% whilst the rest of the sector is down 40%-90% per individual bank. They were widely criticised by the financial classes and their Hyenas in the financial press for being too conservative - i.e for not getting on the bandwagon of all those 'sexy' high risk, high return byzantinely-complicated deals that the rest of the gaderine finance-class-swine swarmed towards.
Make no mistake - our rulers will make YOU pay, as they are already doing now. Poiticians and multi national corporations are getting nervous - and when they do they get trigger happy, especially when their remedies and solutions (the rest of society paying for their mistakes) don't work. You'd better hope their solutions do work because if they don't - YOU will be their sacrificial lambs.
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HSBC have dropped 2%...since when exactly? they were hardly immune, they've just laid 500 off, hardly "converse"

hsbc and indeed lloyds tsb were conservative..but i don't recall any vilification in the press...perhaps you would care to post a few URLs to prove your statement...

and thousands getting seven figure bonuses? more unsourced opinion, the city is a small place
 
Darth Vodka said:
HSBC have dropped 2%...since when exactly? they were hardly immune, they've just laid 500 off, hardly "converse"

hsbc and indeed lloyds tsb were conservative..but i don't recall any vilification in the press...perhaps you would care to post a few URLs to prove your statement...

and thousands getting seven figure bonuses? more unsourced opinion, the city is a small place
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It's difficult to find a cut and paste to answer your questions :)
 
Darth Vodka,
The financial media did criticise HSBC for their conservatism & financial prudence. There is no need to spend half an hour trying to trawl the internet to 'prove' it. Why would I make this up, if could and did criticise the finance system broadly on a macro level without the need for these sorts of citations... there is no need to be suspicious of this as unsourced opinion, HSBC is sound. How do I know and what is my source? Well if you must know I was at a business presentation at HSBC HQ at Grove park yesterday evening where not only local HSBC senior people spoke but the head of asian and south asian investments a very senior guy from London HQ was the main speaker.
How do I get to mix was the classes that I have an antipathy to? That's another story, but I happen to be very well connected to very many spheres of life. I can criticise the system with a broad marxist leninist brush without the need for me to cite HSBC to back up my case. When I say 'thousands' have made £millions I meant not just in London but, New York, Tokyo, Frankfurt etc... But my statement was a broad philisophical leftist attack on the crisis and those who have caused it, I didn't expect to be replying on a point of detail.
 
consty said:
When I say 'thousands' have made £millions I meant not just in London but, New York, Tokyo, Frankfurt etc... But my statement was a broad philisophical leftist attack on the crisis and those who have caused it, I didn't expect to be replying on a point of detail.
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I think thousands in London over the past couple of years is true anyway.
 
consty said:
Darth Vodka,
The financial media did criticise HSBC for their conservatism & financial prudence. There is no need to spend half an hour trying to trawl the internet to 'prove' it. Why would I make this up
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i didn't say you made it up, maybe somebody else did and you believed them

and no need to try and impress me about knowing people from HSBC HQ, i used to work in the building next to it
 
Darth Vodka said:
i didn't say you made it up, maybe somebody else did and you believed them...and no need to try and impress me about knowing people from HSBC HQ, i used to work in the building next to it
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Darth, I felt I had to reveal my sources as there seemed to be an at least gentle accusation of my relying on unnamed sources - but I accept that you did not mean I was making them up and thanks for saying so. I don't think it unreasonable of me in reply to you to cite my sources and in so doing I was not trying to impress or be boastful. But when one cites a named source then one normally should cite the context/book/place that the source spoke or wrote - eg a book, a quote to the newspapers, a meeting, a conference etc etc. Thus I had to say I heard it direct from very knowledgeable horses mouths and that I cannot therefore point anyone towards a book or newspaper quote for anyone to see it for themselves - and I had to explain that I was personally present to give my claims that I do indeed have a source credibility. In reading my last pos again I accept that it may have come across as boastful, we all write in a bit of a hurry and sometimes the tone and meaning of what one says can be not quite what one would like. But I was just trying to cite my sources, that's really all but I apologise for a rhetorical flourish that may have looked boastful.

There is one corroborating piece of evidence anyone can look at concerning the points in my original post that is not 'unsourced evidence'. Check out the share price of all the main banks (except HSBC) and see what they were in January. And also check HSBCs'. You will see falls of 40%-90% with all the first group and a tiny fall with HSBC. At the time of the meeting I attended last Wednesday it was 2%. This rather corroborates my claims that very bad, greedy and reckless decision-making was undertaken by the first group. If even the Conservative Party are saying the same thing (greed/bad decision-making) and demanding banking staff get no bonuses, then I must be onto a winner in terms of what I am claiming.
 
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