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From: SaladDodger on 22 Jul 2010 05:25 On 22 July, 09:26, ens...(a)bath.ac.uk (M J Carley) wrote: > So bribing politicians is the fault of the politicians but not of the > people handing over the bribes? If the politicians stood by their (socialist, in this case) "principles", then no bribe would take place. We all know MPs only get into politics for the good of the public[1], and not to feather their own nests, so I can't see how bribery on the scale you allege could possibly happen. You must be imagining it. [1] V&M says so, ergo it must be true.
From: CT on 22 Jul 2010 05:33 M J Carley wrote: > In the referenced article, "CT" <me(a)christrollen.co.uk> writes: > > M J Carley wrote: > > > >> I can't think of a major bank which has > >> not been bailed out one way or another (I'm with the Co-op which > >> hasn't but then it's not a major bank). > > > > Abbey, Barclays, HSBC and Nationwide never received any govt. money. > > > > Although, I'm not saying that they didn't benefit to some extent by > > *others* being bailed out > > The UK government has announced a package of measures aimed at > rescuing the banking system that makes available �400bn ($692bn) of > fresh money. > > It will initially make extra capital available to eight of the UK's > largest banks and building societies in return for preference shares > in them. > > The lenders that have confirmed their participation in aspects of > the scheme are Abbey, Barclays, HBOS, HSBC, Lloyds TSB, Nationwide > Building Society, Royal Bank of Scotland and Standard Chartered. > > http://news.bbc.co.uk/1/hi/business/7658277.stm Which doesn't tally with the link that Adrian posted: "HSBC, along with Barclays, opted not to seek cash from the government." -- Chris
From: Adrian on 22 Jul 2010 05:33 "CT" <me(a)christrollen.co.uk> gurgled happily, sounding much like they were saying: >> The UK government has announced a package of measures aimed at >> rescuing the banking system that makes available £400bn ($692bn) of >> fresh money. >> >> It will initially make extra capital available to eight of the UK's >> largest banks and building societies in return for preference shares >> in them. >> >> The lenders that have confirmed their participation in aspects of the >> scheme are Abbey, Barclays, HBOS, HSBC, Lloyds TSB, Nationwide >> Building Society, Royal Bank of Scotland and Standard Chartered. >> >> http://news.bbc.co.uk/1/hi/business/7658277.stm > Which doesn't tally with the link that Adrian posted: > > "HSBC, along with Barclays, opted not to seek cash from the government." "aspects of the scheme"
From: M J Carley on 22 Jul 2010 05:35 In the referenced article, "Krusty" <dontwantany(a)nowhere.invalid> writes: >M J Carley wrote: > >> In the referenced article, "Krusty" <dontwantany(a)nowhere.invalid> >> writes: >> >> > The thing that caught them out was the collapse of inter-bank >> > lending. Most businesses need to 'borrow' money at some point, >> > whether through a loan, overdraft or share issue. If you're used >> > to, & rely on that facility, & it suddenly disappears with very >> > little notice, you're screwed. >> >> Banks need to borrow money all the time and they've been `borrowing' >> more of it > >Yes, but they could no longer borrow it from the international money >markets, so had to borrow it from the government instead. >> the `money' banks lend is a fantasy. >Sure it's paper money, but it still has to have some real money >behind it somewhere in the chain, otherwise... No it doesn't. Banks lend (much) more money than they have. The UK cash ratio is 0.15%. -- Si deve tornare alle basi: Marx ed i Clash. Michael Carley: http://people.bath.ac.uk/ensmjc/
From: CT on 22 Jul 2010 05:41
Adrian wrote: > "aspects of the scheme" Yes, and HSBC, Nationwide and Standard Chartered were also signed up and yet: "HSBC, Nationwide and Standard Chartered also welcomed the plan but said they did not intend to take on any new capital at the moment." So I think I'm just disagreeing on TBC's use of "bailout" from his earlier post, so I'll leave it at that. -- Chris |