As for toys, i did try to get one but she bashed me with her hand bag!!! (Rowen and Martin laugh in)...
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Chartermark wrote:Sadly Trevor, history has repeated itself from 1929 and the 'Wall Street Crash'. Two far visioned American Senators formatted a bill that became part of American banking law. They were Carter Glass and Henry Steagall. In 1933 they passed the second Carter Steagall Act that prohibited banks gambling with Retail depositors savings. A piece of legislation that held good until Clinton repealed it following Republican sponsorship in 1999. It took the bankers less than ten years to repeat the '29 crash all over again.
Gordon Brown should have kept a much closer eye and legislated against the banks, but the FSA, were far too cozy with the 'Porsche & Braces' brigade - result repetitive chaos. In all fairness the Tories would'nt probably have done any more to interdict either (see geese & golden eggs).
John Maynard Keynes, the British Economist who did so much to reconstitute the American economy in the 30's once said;
'Bankers are not the sobersides of folk lore, but reckless fellows who need watching very closely'.
How right, but to have them in concerto with short sighted European Political zealots, dreaming of ideality whilst breaking peoples lives, is a sordid concoction of odds indeed.
James.uk wrote:The individual monies owed is tiny compared to what the Gov owe. And when the interests rates rise, as rise they must, then people will really have cause to worry...
Borg Warner wrote:Very well explained guys, I think I understand a little better now. But I'm not going to worry because I can't do anything about it.
A question though; If my bank/lender goes under do I lose my savings and they lose my debt i.e. mortgage? (I think I know the answer but?)
Mick wrote:There is a way out, nullify all personal debt, then start the whole system up again with proper rules and regulation in place. Or am I just another crank among many, of whom can be numbered, leading economists.
carlpenn wrote:I read somewhere on a Banking / FSA or similar site (cannot remember where) that if a Bank goes under you are entitled to no more than Ã‚Â£85k paid back. So if you are a Millionaire, well, you sadly won't be any longer!!
carlpenn wrote:Mick wrote:There is a way out, nullify all personal debt, then start the whole system up again with proper rules and regulation in place. Or am I just another crank among many, of whom can be numbered, leading economists.
I have often wondered about this, because we are a World living on Debts. OUr Banks, GOv't and population all exist financially on a Debt system.
Strange how we would go Bankrupt because we would write Debts off - I mean, a Debt is something owed, you do not have it, it technically does not exist. Therefore by removing it, it does not change the circumstance. So I am completely puzzled how it would bring about Bankruptcy (Shrugs) - But then I have less understanding of the whole Global Economy than most do lol.
Then there is the whole "we cannot print money off because the Pound will lose its strength" eh? What? lol.