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HAVE YOUR SAY

HAVE GREEDY BANKERS RUINED THE ECONOMY?

HIGH HOPES: A young woman anxiously checking her chances of getting on the property ladder

Friday May 16,2008

Comment Speech Bubble Have your say(33)

BANKS AND CITY bosses were yesterday accused of being responsible for the credit crunch.

The finance watchdog said they had done the damage by concocting a toxic cocktail of “fear and greed”, criticising the size of bonuses and the level of insider dealing in the City.

Hector Sants, chief executive of the Financial Services Authority, also said that bankers did not understand the complex mortgage deals they were selling to borrowers.

He said that banks and investors had forgotten the golden rule of “don’t buy what you don’t understand”, adding that the financial turmoil had “reminded bank management of a number of basic truths”.

Mr Sants warned consumers not to expect the return of easy credit for years, saying that 100 per cent-plus mortgages were unhealthy for them anyway.

ARE YOU FEELING THE CREDIT CRUNCH? WHO DO YOU BLAME?

HAVE YOUR SAY NOW!

OUR MOLLY-CODDLED BANKERS.

19.05.08, 8:24pm

Most people that I know are puzzled at the way that our top bankers are immune to all the normal laws of business.
These are super-rich men who have virtually bankrupted our major banks by sheer incompetence.
Yet still they draw their massive salaries and bonuses, and if they do happen to be fired, depart with a six-figure cheque.
Businessmen who mess-up in such a grand manner would soon be shown the door, or lose their own capital.
And this has all been overseen by the Labour government, the so-called working mans party.
The working man is going to lose his shirt over this, although he doesnt know it yet, while the incompetent rich are laughing, assisted by the working-mans party.
Theres a bad smell, isnt there.

• Posted by: stevewo • Report Comment

FALSE BOOM.

19.05.08, 6:38pm

Anyone who thinks we have had an economic boom is deluding themselves.
We have had a false boom, based on rocketing house prices and borrowing.
This sort of "boom" happens in Spain and Australia as well, but housing booms are an illusion.
A real economic boom is happening now in China and India, based on industrial output and exports, just like we used to have here, but our sad miracle is just debt-based, and will collapse in shreds.
The truth is we dont have much of an economy now. The government and bankers have simply been playing the old housey-housey trick, hoping that it would last forever.
Its a time-bomb, and its exploded.

• Posted by: stevewo • Report Comment

ABSOLUTELY.

19.05.08, 5:56pm

Yes, bankers and loony-left politicians have ruined our economy.
We now have a single-item economy.
So what have they concentrated on...
Industrial output...no
Manufacturing exports...no
Electronics design and development...no
Our economy depends on one thing only..HOUSES.
All our eggs have been put into one basket, houses and borrowing against them.
When this sad plan goes wrong a disaster ensues...just like now.
The dopey banks and the public will be paying for this for years..in taxes.
But let us not forget all those millionaire bank staff (who were well paid before they got any bonuses) who have left us in this wreck.
And let us not forget the orchestra leader himself...Gordon Brown.

• Posted by: stevewo • Report Comment

HAVE GREEDY BANKERS RUINED THE ECONOMY?

19.05.08, 3:15am

YEP! Them and Super Greedy Politicians and, Super Greedy Local Councils.

• Posted by: kojak • Report Comment

ITS SIMPLE AS ABC

19.05.08, 12:14am

Dont live beyond your means, some good old fashioned advice.

• Posted by: sophialoren2 • Report Comment

HAVE GREEDY BANKERS RUINED THE ECONOMY?

18.05.08, 3:14pm

Have the banks been greedy?of coarse.
But are they alone, no.The happy consummer will take any extra money off who ever,espescially when it is thrown at then every morning in the post, have £5,000, next day have
10,000and so on .If you have low wages taxed
to the hilt told the ecconomy is at 2% when every idiot knows it lies at 10% choking everyone slowly. You are still left with a family to bring up, any money relieve seems good.This does not solve your long term problems.So are the banks the only greedy institute hear no the goverment let it happen because they can sniff thier portion of the take.Its time Gordon Brown
(Sherriff of Nottingham)took his portion of blame
instead of trying to convince everyone he is the
right person to stear everyone out of this ecconomic mess.He is the mess.

• Posted by: mrnewsreader • Report Comment