Bank Watch ...

Forum for general discussion of Peak Oil / Oil depletion; also covering related subjects

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adam2
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Post by adam2 »

kenneal - lagger wrote:Can the BOE be sued for all the extra costs, I wonder?
I very much doubt it !
They almost certainly have some form of immunity.
"Installers and owners of emergency diesels must assume that they will have to run for a week or more"
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Post by 3rdRock »

http://www.bbc.co.uk/news/business-30542643
The US Federal Reserve has given Wall Street banks even more time to comply with parts of the Volcker Rule, a key provision of the 2010 Dodd-Frank financial reform bill.
This is the second big victory for banks, who have spent nearly four years arguing that the regulations stipulated in the 1,600-page Dodd-Frank bill are too onerous.
:roll:
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Post by 3rdRock »

http://www.bbc.co.uk/news/business-30300633
Will we ever really get over the financial crisis? Six years or more on from the start of it, the world economy is still struggling to generate a convincing recovery.

Among the headwinds is debt, the factor that took us into the crisis in the first place.

In the meantime, since the crisis began global debt has actually risen. The hoped-for financial healing has happened only in a few scattered parts of the global economy.

The most recent figures come from the Institute of International Finance (IIF), a group that represents the financial services industry. As of June this year it estimated that global debt, excluding the financial sector, was equivalent to 245% of total global economic activity or GDP. That's up from 214% in September 2008 when the financial crisis was going into its most intense phase.
The Institute of International Finance (IIF), a group that represents the financial services industry, had this to say:
Financial companies, such as banks, have reduced their debts.

The IIF says that is desirable, but as they are essentially intermediaries between the ultimate lenders and borrowers, "their debt reduction does not influence the assessment of sustainability of the debt burden to the economy".
:roll: We pay off their toxic debts, they continue to pay themselves vast bonuses and everyone is surprised that global debt as a percentage of GDP is rising.

You couldn't make it up. :evil:
kenneal - lagger
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Post by kenneal - lagger »

With the current economic model the only way of increasing money supply is to increase debt. As governments are in the pockets of bankers they won't issue money themselves for their capital spending they will only borrow it. If the governments of the world told the bankers to buy their new money from the national bank and those governments paid for their capital spending with new national bank issued money the money supply could be catered for without increased debt.
Action is the antidote to despair - Joan Baez
3rdRock

Post by 3rdRock »

http://rt.com/uk/216731-bankers-bonus-rise-again/
Christmas every day: Bonus bonanza for City bankers

Annual bonuses for bankers working in London’s financial sector are expected to rise by an average of 21 percent, according to a recent survey. Salaries were also found to be increasing, with the average finance salary at just under £100,000.

The figures, presented in a survey by recruitment firm Astbury Marsden, found that two-thirds of bankers are expected to receive a Christmas bonus, an increase of 5 percent on 2013. A further 40 percent believe that their bonus will be increased.

The survey, which polled 1,500 senior City staff, also found that the predicted increase would take the average bonus to £124,680, nearly £100,000 more than the average annual UK salary.

Adam Jackson, director of the firm, said the increase was due to “significant improvements” in business conditions.
:roll: Selfishness and greed, individual or national, cause most of our troubles. – Harry S. Truman
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Post by 3rdRock »

https://www.youtube.com/watch?v=xWOsjVyc6wo
The Terror Of How Banks Use Our Money
Russell Brand and Max Keiser setting the world to rights. :D
kenneal - lagger
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Post by kenneal - lagger »

Shortfall wrote:
http://rt.com/uk/216731-bankers-bonus-rise-again/
Christmas every day: Bonus bonanza for City bankers

.....

Adam Jackson, director of the firm, said the increase was due to “significant improvements” in business conditions.
:roll: Selfishness and greed, individual or national, cause most of our troubles. – Harry S. Truman
Why should *ankers get a bonus increase because of "“significant improvements” in business conditions."?

Weather conditions have improved! I want a bonus increase. A bonus, any bonus, would be nice!
Action is the antidote to despair - Joan Baez
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emordnilap
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Post by emordnilap »

Bank guarantee was most destructive own goal in history

So says Professor William Black, six years too late, at the inquiry into the so-called banking crisis in Dublin.
Black is widely-respected expert in banking fraud whose central thesis is that the leading cause of catastrophic bank failures is senior insider fraud.
Amen to that.
I experience pleasure and pains, and pursue goals in service of them, so I cannot reasonably deny the right of other sentient agents to do the same - Steven Pinker
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emordnilap
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Post by emordnilap »

Bill Black wrote:"We would put them into receivership, the subordinated debt would be wiped out, the shareholders would be wiped out, that's what's supposed to happen to risk capital; the insured depositors would be paid in full and the other folks would get a haircut appropriate to what they signed on to."

[...]

"Receivership would have been a vastly better solution."
Pre-fụcking-cisely Bill my man, just what us ordinary people have to agree to when we make a balls of a business.

Instead, our cash reserves at the time - €80 billion! - plus troika loans were handed over as welfare payments to the undeserving rich.
I experience pleasure and pains, and pursue goals in service of them, so I cannot reasonably deny the right of other sentient agents to do the same - Steven Pinker
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Post by frank_begbie »

"In the beginning of a change, the patriot is a scarce man, brave, hated, and scorned. When his cause succeeds however, the timid join him, for then it costs nothing to be a patriot."
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Post by AutomaticEarth »

HSBC screwing the middle class...operation Geneva :oops:
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Post by emordnilap »

"every syllable uttered is a validation of my opinion: none of these people are worth voting for. None of these people are worth co-operating with and this entire system sucks and has to be replaced with something that's an authentic expression of the will of the people: true democracy."
...referring to the "Fred and Rose West" at the top of British politics
I experience pleasure and pains, and pursue goals in service of them, so I cannot reasonably deny the right of other sentient agents to do the same - Steven Pinker
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Post by AutomaticEarth »

I laughed when I saw this....

http://www.washingtonpost.com/blogs/won ... row-money/

Wish I was paid to borrow money :shock:
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Post by vtsnowedin »

AutomaticEarth wrote:I laughed when I saw this....

http://www.washingtonpost.com/blogs/won ... row-money/

Wish I was paid to borrow money :shock:

I thought he did a good job of explaining something that on it's face is absurd.
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Post by kenneal - lagger »

The rich have done so well out of QE that they have too much money now! As inflation is taking effect from the money printing they are having to forgo interest on it.
Action is the antidote to despair - Joan Baez
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