Question for all right wing capitalists and libertarians?

[sunnysan]

Heil

Slightly off topic but the 1930s crash was blamed for the emergence of fascism and eventually WW2. So what nasty political effects do CUKers think this one will spin off?

At least we still have lots more sophisticated weapons, so perhaps the EU will invade the third world and just nick all their oil before the Yanks or Russians do.

Economic hardship will exacerbate any existing social problems. I forsee a rise in rightwing sentiments across Europe as people look for scapegoats for their economic woes, whether it will result in war, who knows?

[DimPrawn]

Within any large organisation, reward has become divorced from talent, ability and judgement. Political skill and spin are everything.
Once in top positions you are guaranteed a mini-fortune regardless of what you do, based more on short term "results" than the vision to create, develop and build. If you fail you'll walk off with a golden goodbye. Where's the incentive?
The consequences are now apparent.

Think of Tony Blair and re-read what you have said.

[oracleslave]

You could argue that a more stringent form of legislation and regulation could have had ensured that asset backed securities where more tightly controlled. I know its not as simple as that but surely more could have been done to stop securities being backed by what amounts to thin air


I agree with the bad decisions and business argument. But business dictates that if you make bad decisions you go bankrupt.

On the flip side of the coin,if the companies in question are that important to general economic well being,that they can get billion pound bailouts, surely they where important enough to be made to operate within a regulated environment which may have averted or at least softened the catastrophe we now face.

In short, I agree that more legislation/regulation could have been in place and that MIGHT have helped prevent this to a small degree. However if they haven't done anything illegal other than make bad decisions I think it's harsh to point the finger of blame at the Gov.

[EternalOptimist]

Think of Tony Blair and re-read what you have said.

I think SadAss is right. Why dont we make it our plan B to run a major institution then we need never have to worry about money ever again. I bagsy Barclays for me.

[TimberWolf]

The barter system is but another bank's collapse away.

better

[sasguru]

In short, I agree that more legislation/regulation could have been in place and that MIGHT have helped prevent this to a small degree. However if they haven't done anything illegal other than make bad decisions I think it's harsh to point the finger of blame at the Gov.

Labour was petrified of spooking the City before they got elected. Blair's strategy was to cultivate contacts in the City and promise that Labour would give them a free hand (for which he has been amply rewarded now.).
Labour have clamped down on the small businessman, sole-trader and self-employed and agreed to whatever big business wanted.
This Labour government which consists mainly of cretins who've never had a job in the real world is the most incompetent set of buffoons ever to govern this country in several lifetimes.
For the above reasons they are guilty as sin.

[DimPrawn]

Labour was petrified of spooking the City before they got elected. Blair's strategy was to cultivate contacts in the City and promise that Labour would give them a free hand (for which he has been amply rewarded now.).
Labour have clamped down on the small businessman, sole-trader and self-employed and agreed to whatever big business wanted.
This Labour government which consists mainly of cretins who've never had a job in the real world is the most incompetent set of buffoons ever to govern this country in several lifetimes.
For the above reasons they are guilty as sin.

First time ever I agree with you 100%.

What's your take on Global Warming?

[oracleslave]

Labour was petrified of spooking the City before they got elected. Blair's strategy was to cultivate contacts in the City and promise that Labour would give them a free hand (for which he has been amply rewarded now.).

That was over a decade ago. Relevance?

Labour have clamped down on the small businessman, sole-trader and self-employed and agreed to whatever big business wanted.

True but I don't see the correlation between treating small businesses poorly and the shortcomings of the capitalist system

This Labour government which consists mainly of cretins who've never had a job in the real world is the most incompetent set of buffoons ever to govern this country in several lifetimes.
For the above reasons they are guilty as sin.

Maybe so but I think it's a fool that thinks it would have unfolded differently under another ruling party.

[ace00]

First time ever I agree with you 100%.

What's your take on Global Warming?

WHS.

[sasguru]

That was over a decade ago. Relevance?

It gave the City carte blanche to believe they were untouchable under Labour. The FSA et. al. have been toothless tigers by design

True but I don't see the correlation between treating small businesses poorly and the shortcomings of the capitalist system

That is a shocking statement. Capitalism should be about small businesses encouraged to compete not monopolies dominating the market

Maybe so but I think it's a fool that thinks it would have unfolded differently under another ruling party.

I think it would have better under the old-fashioned Tory grandees - at least most were businessmen and understood the issues and limits of the business world