Reply to: What happens if it just doesn't work....

[AlfredJPruffock]

Its simple really - the banks lent too much money to people who couldn't pay it back, and after that big snafu their response now is to refuse to loan anyone any money no matter that the loans are guaranteed by the govt.

Its almost like the ppl in charge of the banks are deliberately trying to take down the system *cue twilight zone music* I can't see any other explanation... unless! - the ppl running the banks are completely incompetent.

Once again, I reiterate that the solution is to fire all banking management staff and replace them with trained monkeys. They could do no worse.

In essence then outsource Banking Management to EDS ?

[ace00]

........... I can't see any other explanation... unless! - the ppl running the banks are completely incompetent.
.........

Never underestimate the power of stupid people in large numbers. The World is largely driven by incompetence, stupidity and greed.

[Stan.goodvibes]

Its simple really - the banks lent too much money to people who couldn't pay it back, and after that big snafu their response now is to refuse to loan anyone any money no matter that the loans are guaranteed by the govt.

Its almost like the ppl in charge of the banks are deliberately trying to take down the system *cue twilight zone music* I can't see any other explanation... unless! - the ppl running the banks are completely incompetent.

Once again, I reiterate that the solution is to fire all banking management staff and replace them with trained monkeys. They could do no worse.

[BrilloPad]

something tells me it won't work and they will need to put more in

WHS

It could take years for things to recover....

[TheFaQQer]

Atw, is that you?

Where is he? We need some in-depth, intelligent economic analysis, and I can't be bothered to wade through the past few months to find it.

[Old Greg]

At the root of these problems is the 'guiding hand of the state'. Greedy bankers, complex instruments, etc are just bit players and props.

No, the state is an arm of capitalism. But we may have to agree to disagree as I need to cook tea now.

[HairyArsedBloke]

But I don't think this will be left to the market, or we'll end up with another bubble however far down the line. I think we'll see the guiding hand of state regulation firmly on the gentle hand of the market.

At the root of these problems is the 'guiding hand of the state'. Greedy bankers, complex instruments, etc are just bit players and props.

[contractor79]

Let's just get back to commonsense and try checking that people have the ability to repay before we grant mortgages. Pretty simple really, and no need for anything too dramatic.

but that's discrimination!

[Old Greg]

Let's just get back to commonsense and try checking that people have the ability to repay before we grant mortgages. Pretty simple really, and no need for anything too dramatic.

But I don't think this will be left to the market, or we'll end up with another bubble however far down the line. I think we'll see the guiding hand of state regulation firmly on the gentle hand of the market.

[Cyberman]

I think we may be at the end of Reaganite / Thatcherite free market laissez-faire capitalism. Not sure where we'll go next, but possibly back to post-war Keynesian economics.

Let's just get back to commonsense and try checking that people have the ability to repay before we grant mortgages. Pretty simple really, and no need for anything too dramatic.

[Sockpuppet]

No - but it is going to take a long while for the excesses to work through the system.

New laws should be passed stopping anyone (globally) from borrowing more than three times their salary - and only 75% of the asset value.....

income

My salary is pittance

[contractor79]

something tells me it won't work and they will need to put more in

[Old Greg]

I think we may be at the end of Reaganite / Thatcherite free market laissez-faire capitalism. Not sure where we'll go next, but possibly back to post-war Keynesian economics.

[Rantor]

yes - I did think that after my post. Though I think atw would either go for 1* salary and 50% - or all property is theft.

Well if recent events don't qualify as a classic Crisis In Capitalism, I'm not sure what would.

I saw newsnight a few days ago and Geofrrey Robinson joked about labour finally implementing their 1983 manifesto - that's sleeper agents for you

[rootsnall]

It's not an if but a when. The bail-outs won't work, and never will, but that won't stop New Labour winning the next election and then presenting every tax payer with a £50K tax bill to cover the losses.

Whether it works or not, top end property prices in Swindon will not be effected.