Reply to: Brown and Darling did alright yesterday

[Cyberman]

Er, I don't know WHO said "Let the banks die.", but it was never an option for the UK Gov.

Mervyn King..... head of the BofE, when quoting 'moral hazard'.

[Bob Dalek]

Yet other people have been saying for weeks that bailing out the banks is unfair and they should be allowed to collapse... so it's not that obvious.

And whether it's obvious or not, a decision of this magnitude is pretty ballsy. I somehow doubt if you were in charge, you'd be so sure when £400billion was involved

Er, I don't know WHO said "Let the banks die.", but it was never an option for the UK Gov.

[DS23]

Did you fall on your head as a baby or do you come from a long line of congenital idiots?

why either or?

[sasguru]

So what. You know no more than anybody else unless you were there. Personally, I believe we led in a panic and they followed. If you want to call that coordinated, fine.

Did you fall on your head as a baby or do you come from a long line of congenital idiots?

[snaw]

So what. You know no more than anybody else unless you were there. Personally, I believe we led in a panic and they followed. If you want to call that coordinated, fine.

Yes indeed. You're absolutely correct. 6 central banks, inc the bank of china all coordinated interest rate cuts at exactly the same time following our lead.

[Cyberman]

You know you shouldn't of bought those Northern Rock shares !

In future I suggest you stick to sure fire bailout bets such as Icesave.

Time will tell.

[Cyberman]

Nope, you stated that Britain led and the others followed and that it wasn't coordinated. I can go dig up the quotes if you want. I never mentioned who instigated it.

So what. You know no more than anybody else unless you were there. Personally, I believe we led in a panic and they followed. If you want to call that coordinated, fine.

[rootsnall]

That will all come out in court in January. As we all should now know, the Rock had absolutely no toxic debt, but was caught in a whirlwind of incompetence by Darling , Brown, King and Peston.

You know you shouldn't of bought those Northern Rock shares !

In future I suggest you stick to sure fire bailout bets such as Icesave.

[snaw]

If you want to believe that it was instigated by the EU then fine. Thank heaven we are not in the Euro, because at least we can control our destiny to our benefit once we get a competent HMG, BofE and Regulator !!!

Nope, you stated that Britain led and the others followed and that it wasn't coordinated. I can go dig up the quotes if you want. I never mentioned who instigated it.

[Cyberman]

I do wonder what the Tories would have done - it's easy to be wise after the event. Also the received wisdom on here is that everything in the garden was rosy in '97 and Labour's gradually run up a big deficit. As usual, that isn't entirely true - they inherited a deficit in 97 - yes, a deficit from those wonderful, low tax, fiscally responsible Tories - imagine!

Let's just wait and see what level of growth, unemployment, homelessness and national debt that New Lie hand over to the Tories.

[Cyberman]

I love how Cyberman gets it completely wrong yesterday on the interest rate cut, and hardly blinks. Credibility a bit shot, empty vessels and all that.

If you want to believe that it was instigated by the EU then fine. Thank heaven we are not in the Euro, because at least we can control our destiny to our benefit once we get a competent HMG, BofE and Regulator !!!

[Peoplesoft bloke]

much as I hate Labour, unlike Cybercretin, I don't let ideology get in the way of my judgement. It is true to some extent that this is an unprecedented systemic global crisis in which there are few pointers from the past about the right way to do things.
I don't think Labour have done too badly in the circumstances.
Suddenly all these monkey geeks of limited intellect like atW and Cybercretin are holding forth as if they are some kind of finance gurus.
Makes me

I do wonder what the Tories would have done - it's easy to be wise after the event. Also the received wisdom on here is that everything in the garden was rosy in '97 and Labour's gradually run up a big deficit. As usual, that isn't entirely true - they inherited a deficit in 97 - yes, a deficit from those wonderful, low tax, fiscally responsible Tories - imagine!

[TimberWolf]

I never for one moment doubted Browns' exceptional abilities at spending tax papers money.

[d000hg]

Pot, kettle, tw@t...

Can't we all save the bile for one of atw's threads, this one actually has a reasonable discussion going for once if we avoid it being derailed, and accept people are ALLOWED to have different opinions.

[d000hg]

You are agreeing that to have done the most obvious and the ONLY thing possible is somehow heroic - it isn't.

Yet other people have been saying for weeks that bailing out the banks is unfair and they should be allowed to collapse... so it's not that obvious.

And whether it's obvious or not, a decision of this magnitude is pretty ballsy. I somehow doubt if you were in charge, you'd be so sure when £400billion was involved