Kiss Goodbye to the coalition?

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
16/06/2010 17:47

Chancellor George Osborne has confirmed that he will give the Bank of England the key role in regulating the UK financial sector.



Mr Osborne told the House of Commons that the current system of financial regulation had "failed spectacularly".



He added that Sir John Vickers, former head of the Office of Fair Trading, would look into the potential break-up of Britain's biggest banks.



BBC



Take on the banks and..... lose!



They really have no new ideas so they? This has all been talked about before... and talk was all it was.

andre 514


Joined: 31/03/2008
Posts: 1163

Message Posted:
16/06/2010 23:49

well...



boom 'n bust is inherent in the structure of the capitalist system, and it's all happened before



the alternatives, over-regulation or communism have been tried and work even less well



hitting the banks appeals greatly to the current mood, but they have merely helped people

to live beyond their means, soothed with the now-obvious falshood that expansion never stops



get the banks to pay more, well that will help the public finances at a most difficult time,

though the cost will inevitably be unloaded onto joe and jane public in the end



but seriously attack them and the retail banks will contract down

while the merchant banks and their wealthy customers will skidaddle overseas, sure as eggs



certainly there is some case for better supervion but it will have to be thought through carefully



...no easy answers!

MartinM


Joined: 03/10/2009
Posts: 166

Message Posted:
17/06/2010 07:24

A film/documentary called "Zeitgeist" came out a couple of years ago and makes interesting viewing. If you can get hold of a copy ( thepiratebay,org ) it gives a slightly different slant on capitalism.

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
17/06/2010 10:43

hi martin. i saw that film it really makes you wake your mind to what really goes on, and how long capitalism has gone on x