Bailout already a failure! They already want more!

Discussion in 'The Lounge - Off Topic' started by panipatisk, Oct 4, 2008.

  1. craigie

    craigie Terabyte Poster

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    Have to say that I have a 'hard line' on this subject as an ex Financial Advisor.

    I did type up alot of information on this and then deleted it, this pretty much sums it up:

    If people where not so greedy as to want everything now without working for it (on the never never) and bankers where not so willing to lend money to people who could not afford it we would not be where we are now.

    I don't want to be one of those 'smarmy' people who say I told you so, but I predicted exactly the same thing about the dot com bubble.

    It's just plain, simple common sense, how can a company that has never made a profit, be placed in the FTSE 100, and keep going up in value?

    We will see this all again in around 10 years time, it will be something else, Dot Com Boom, Credit Crunch...
     
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  2. twizzle

    twizzle Gigabyte Poster

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    With everything going down the pan, it might be best to take shares in Armitage Shanks!
     
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  3. BosonJosh

    BosonJosh Gigabyte Poster

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    It's hard to believe that Congress has the audacity to even mention further bailout money. I'll be speaking with my vote in November. Fortunately, how each member of Congress voted is a matter of public record.
     
  4. dmarsh
    Honorary Member 500 Likes Award

    dmarsh Petabyte Poster

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    It will be a cold day in hell a financial advisor tells someone not to take a mortgage or other financial product ?

    The FSA saw everything that happened and did nothing, they were totally complicit.

    The reason it happens every few years is because its the familiar ramping that happens, hard to make money with zero growth, better to ramp and create boom and bust, makes it easier for people in finance to make those $$$. Time everyone else figures it all out bankers/estate agents/financial advisors are on their yachts in the bahamas...

    Theres barely a day goes by a financial product sold by financial advisors doesn't get linked with mis-selling, the US sub prime fiasco is just the biggest recent example.
     
  5. Fergal1982

    Fergal1982 Petabyte Poster

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  6. FlashDangerpants

    FlashDangerpants Byte Poster

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    Either the cash was surplus, and therefore council taxes will not have to be raised at all (by their nature, surpluses are not a necessity). Or the cash was merely sitting in an account waiting to be used, and cannot be described as surplus.

    Reacting with equal scandal to two mutually exclusive interpretations of the same fact is a teeny bit greedy.
     
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