Backlash against the Bankers

[Mad Cyril]

I thought Jimmy Carter started the ball rolling with sub prime mortgages?

 

[Tangled up in Blue]

You can't understand economics if you believe that punitive taxation is the answer.

Curiously enough this is precisely the suggestion that Stiglitz makes according to Will Hutton's review of his book in yesterday's Observer.Stiglitz is of course a Nobel prize winning economist.I think it's safe to assume that he DOES understand economics.

 

[Napster]

Curiously enough this is precisely the suggestion that Stiglitz makes according to Will Hutton's review of his book in yesterday's Observer.Stiglitz is of course a Nobel prize winning economist.I think it's safe to assume that he DOES understand economics.

Considering lots of economists failed to predict the scale of the current recession, I take every suggestion from them with a huge piece of salt.

In my humble opinion, punitive taxes can't work because they in effect are a stick, not a carrot. I would re-energise the public sector based on taking ownership.

Ooh, look, it's a new Tory policy.

http://www.conservatives.com/News/News_stories/2010/02/~/media/Files/Downloadable%20Files/powertopublicsectorworkers.ashx

 

[Rusty Shackleford]

Curiously enough this is precisely the suggestion that Stiglitz makes according to Will Hutton's review of his book in yesterday's Observer.Stiglitz is of course a Nobel prize winning economist.I think it's safe to assume that he DOES understand economics.

Are these the same people who awarded Obama the Peace Prize after 3 minutes in office? Nobel Prizes are awarded these days to the person who is most faithful to bleeding heart anti-capitalist rhetoric.

And did your third rate university/polytechnic not have enough money to get you and your esteemed colleagues a copy of 'An Inquiry into the Nature and Causes of the Wealth of Nations'? The chap who wrote that understood economics.

 

[Napster]

ps the Nobel prize for Economics, which isn't strictly a Nobel prize, as it wasn't specified by Alfred in his will, has seen its fair share of controversy. Nash got one, despite his mental illness and anti-Semitism, and as recently as 2008, Krugman, the Bush critic was awarded the prize, sparking comments of anti-Bush intelligentsia.

Personally, it's a load of bollocks. Economists are ten a penny.

 

[Tangled up in Blue]

Considering lots of economists failed to predict the scale of the current recession, I take every suggestion from them with a huge piece of salt.QUOTE]

One who did was of course Vince Cable.Curiously in The Storm he makes no mention of the sub-prime crisis as having started under Clinton, as Rusty suggests.In fact Clinton doesn't even rate an index entry in his excellent book.

 

[Rusty Shackleford]

I don't understand why so many people have such a hard on for Vincent Cable. He has about as much charisma as Aidy Boothroyd.

 

[Tangled up in Blue]

<

Are these the same people who awarded Obama the Peace Prize after 3 minutes in office? Nobel Prizes are awarded these days to the person who is most faithful to bleeding heart anti-capitalist rhetoric.<

We're in agreement that Obama shouldn't have been awarded the NPP.

<And did your third rate university/polytechnic not have enough money to get you and your esteemed colleagues a copy of 'An Inquiry into the Nature and Causes of the Wealth of Nations'? The chap who wrote that understood economics.

<

That would be Adam Smith.I remember I preferred Das Kapital at the time though KM was quite a fan of AS of course.

 

[Tangled up in Blue]

I don't understand why so many people have such a hard on for Vincent Cable. He has about as much charisma as Aidy Boothroyd.

I wouldn't say he turns me on sexually but he speaks more sense about economics than any other MP I can think of.Perhaps because he used to be Chief Economist for Shell.
Aidy of course just knows about the long ball game.;)

 

[Rusty Shackleford]

That would be Adam Smith.

You're kidding.

 

[Napster]

Considering lots of economists failed to predict the scale of the current recession, I take every suggestion from them with a huge piece of salt.QUOTE]

One who did was of course Vince Cable.Curiously in The Storm he makes no mention of the sub-prime crisis as having started under Clinton, as Rusty suggests.In fact Clinton doesn't even rate an index entry in his excellent book.

Maybe not. But I believe, as does Stan Liebowitz, Professor Of Economics at University of Dallas, that the CRA invited the banks to loosen their requirements, and hence the subprime market was born.

http://www.nypost.com/p/news/opinion/opedcolumnists/item_Qjl08vDbysbe6LWDxcq03J;jsessionid=04420A0EBC90293A2E9D838197F62BD6

 

[Mad Cyril]

I wouldn't say he turns me on sexually but he speaks more sense about economics than any other MP I can think of.Perhaps because he used to be Chief Economist for Shell.
Aidy of course just knows about the long ball game.;)

It is a little known fact that Vince Cable spotted the gap in the market and introduced the now common practice of selling charcoal briquettes at petrol stations.

 

[Napster]

It is a little known fact that Vince Cable spotted the gap in the market and introduced the now common practice of selling charcoal briquettes at petrol stations.

It's true!

http://en.wikipedia.org/wiki/Vince_Cable

 

[WickfordShrimper]

Anyone with any spare cash sitting in the Bank earning 1 or 2 % interest PA really needs to buying today LLoyds Group at 46p and RBS shares at 31p

In 12 months you will double your cash :-) make the most our of the credit crunch I say

And in a few years you will quadruple you money when u sell up as these Banks will making massive profit again and will be paying HMG back over the next 2 years giving the tax payer heathy profits on the way :-)

Everyones a winner

 

[Tangled up in Blue]

You're kidding.

No straight up.:clap: