This bailing out of banks

Fetish_Bob · **Posted:** Fri Oct 03, 2008 12:34 pm

And the rest of the financial markets. Who else thinks it wrong to use tax payers money.

After all what is the Stock exchange except a bloody big Bookmakers. If I place a bet at Corals or Ladbrokes today and it loses can I ask someone else for my money back. I dont think so!!!!!!!!!

They had it good for years now their investments go wrong they get help, so when it all goes right for them and they start making profits, will they please give me my money (paid by taxes) back.

And who actually believes Bush when he says its a catasphrophe. Thats the man who said Iraq had WMD and took us to war for no reasons at all.

They placed their bets they lost, get over it and try again with their own money not mine.

Tax Paying Poolie · **Joined:** Sat Aug 19, 2006 8:18 am **Posts:** 9053

Fetish_Bob wrote:

And the rest of the financial markets. Who else thinks it wrong to use tax payers money.

After all what is the Stock exchange except a bloody big Bookmakers. If I place a bet at Corals or Ladbrokes today and it loses can I ask someone else for my money back. I dont think so!!!!!!!!!

They had it good for years now their investments go wrong they get help, so when it all goes right for them and they start making profits, will they please give me my money (paid by taxes) back.

And who actually believes Bush when he says its a catasphrophe. Thats the man who said Iraq had WMD and took us to war for no reasons at all.

They placed their bets they lost, get over it and try again with their own money not mine.

They're using my money? They won't get very far!!

Mr Ripper · **Posted:** Fri Oct 03, 2008 1:05 pm

chip fireball wrote:

read a couple of articles this week that made me laugh.

one was from a former employee of lehmans who was slating the government for failing to bail them out and saying he has already had to sell one of his cars ( yes thats one of his cars ) and is gonna struggle to keep up the mortgage payments on his farmhouse in kent.

the other was from another city guy who got laid off and to make matters worse cant rent out one of his 5 bought to rent flats in docklands, and his tenants have given notice to quit on another two. apparently the fall in value of the housing in that part of london is going to potentially ruin him financially. he too was laying into the government and saying they should be doing more to help.

hang on, but arent these the guys who have been living the life of riley for the last decade, getting six figure pay rises/bonuses every year ?

if these so called banking experts couldnt see this coming and got in way over their heads due to greed why the fook should the taxpayer bail them out ?

Matty_Robson's_Chin · **Joined:** Tue Mar 13, 2007 12:57 pm **Posts:** 2155

Fetish_Bob wrote:

And the rest of the financial markets. Who else thinks it wrong to use tax payers money.

After all what is the Stock exchange except a bloody big Bookmakers. If I place a bet at Corals or Ladbrokes today and it loses can I ask someone else for my money back. I dont think so!!!!!!!!!

They had it good for years now their investments go wrong they get help, so when it all goes right for them and they start making profits, will they please give me my money (paid by taxes) back.

And who actually believes Bush when he says its a catasphrophe. Thats the man who said Iraq had WMD and took us to war for no reasons at all.

They placed their bets they lost, get over it and try again with their own money not mine.

They will get bailed out, and to be honest they should let them rot. It was all hunky dorey when they are making billions last year wasnt it!!

Mr Ripper · **Posted:** Fri Oct 03, 2008 1:45 pm

They're allcunts and get no sympathy from me.

The normal working man who might get the knock on effects is a different kettle of fish. It is he, and not the b(w)ankers, who should be getting the help with regards the mortgage for keeping a roof over his head as opposed to a mortgage for profiteering which is what all of the tosswits who buy-to-let are doing whether it be on a large scale in London or one terraced house in Hartlepool. You pay your money and take your chance, but these doyles all thought that it was a no lose situation. There's no such thing as a no lose situation when investing though, but they were just too thick to realise it.

Sarnia Poolie · **Posted:** Fri Oct 03, 2008 1:45 pm

Fetish_Bob wrote:

And the rest of the financial markets. Who else thinks it wrong to use tax payers money.

Actually I don't - would you have prefered it if Northern Rock had failed rather than get bailed out?

Mr Ripper · **Posted:** Fri Oct 03, 2008 1:47 pm

Sarnia Poolie wrote:

Fetish_Bob wrote:

And the rest of the financial markets. Who else thinks it wrong to use tax payers money.

would you have prefered it if Northern Rock had failed?

Yes.

To all intents and purposes it did fail and in doing so my shares went from being worth thousands to being worth sod all. So why should anybody else now get my tax money to protect their investments when I got bugger all?

Sarnia Poolie · **Posted:** Fri Oct 03, 2008 1:51 pm

Mr Ripper wrote:

So why should anybody else now get my tax money to protect their investments when I got bugger all?

Taxpayer's money is not being used to reimburse shareholders.

It's being used to guarantee depositors funds and ensure that any liquidators didn't call in everyone's mortgage at short notice.

Mr Ripper · **Posted:** Fri Oct 03, 2008 1:56 pm

Sarnia Poolie wrote:

Mr Ripper wrote:

So why should anybody else now get my tax money to protect their investments when I got bugger all?

Taxpayer's money is not being used to reimburse shareholders.

It's being used to guarantee depositors funds and ensure that any liquidators didn't call in everyone's mortgage at short notice.

So what, if a few more go titsup then it might make the rest of them more responsible in the future.

And that means individuals as well as banks, one of the root causes of the problem is all the greedy thick people who consider it normal to ask a price in "how much a month" as opposed to saving up and buying stuff whilst at the same time thinking that a great big telly with surround sound and a boo-ray dvd is an "essential item" which has to be bought on credit when they can't really afford it and are feeding their kids crap.

Some stupidcunt of a salesman in a furniture shop asked me last year if I wanted credit for a wardrobe and was amazed when I said I would be paying cash. Ditto when I bought my car last Christmas time. stpid

Sarnia Poolie · **Posted:** Fri Oct 03, 2008 2:07 pm

Mr Ripper wrote:

So what, if a few more go titsup then it might make the rest of them more responsible in the future.

It wasn't because Northern Rock were irresponsible consumer lenders (although you could agrue that 125% mortgages don't help their case). They just had a flawed business model that relied too heavily on interbank lending to finance it's day-to-day activities, rather than the traditional large book of deposits.

But I agree. The only good thing that's likely to come from this banking crisis is that people will think twice before gorging themselves on excess credit.

parmopooly · **Posted:** Fri Oct 03, 2008 2:39 pm

Tax Paying Poolie wrote:

]

They're using my money? They won't get very far!!

snap!!!

parmopooly · **Posted:** Fri Oct 03, 2008 2:40 pm

Mr Ripper wrote:

Sarnia Poolie wrote:

Mr Ripper wrote:

So why should anybody else now get my tax money to protect their investments when I got bugger all?

Taxpayer's money is not being used to reimburse shareholders.

It's being used to guarantee depositors funds and ensure that any liquidators didn't call in everyone's mortgage at short notice.

So what, if a few more go titsup then it might make the rest of them more responsible in the future.

And that means individuals as well as banks, one of the root causes of the problem is all the greedy thick people who consider it normal to ask a price in "how much a month" as opposed to saving up and buying stuff whilst at the same time thinking that a great big telly with surround sound and a boo-ray dvd is an "essential item" which has to be bought on credit when they can't really afford it and are feeding their kids crap.

Some stupidcunt of a salesman in a furniture shop asked me last year if I wanted credit for a wardrobe and was amazed when I said I would be paying cash. Ditto when I bought my car last Christmas time. stpid

I bought a parmo last week - cash. Can't beat showing off I say.

parmopooly · **Posted:** Fri Oct 03, 2008 2:45 pm

chip fireball wrote:

the second guy was only about 28. he was an investment specialist working for a company linked to lehmans, had ploughed a load of his savings into buying these 6 penthouse style flats in docklands on 90 per cent mortgages and he came across as a complete prick.

he kept one for himself and was renting out the other 5 on short term leases to yanks working for lehmans.

presumably for the last 18 months he has been raking it in.

now he has lost his job and the yanks are going home and vacating his flats, he is demanding the government do something to help buy to rent landlords like himself who cant rent or sell his flats and is in danger of going bankrupt.

like bob says what he was doing was no different to going into the bookies and sticking his life savings on a nag and then asking for his money back when it got beat.

there's no sympathy from me either - nobody helped me and Mrs Parmo when we were falling on our faces, struggling to pay bills in a business where we were trapped!!!!
We got out of it though and the wife is now earning good money, along with me - but at least we can say even though the business lost us money we didn't shirk our responsibility to pay off our debts.
How can these people ask for Government help to maintain their millionaire lifestyle, when there's folks struggling to pay their bills just to keep going to work? stpid

Yubep · **Joined:** Wed Jan 31, 2007 6:35 pm **Posts:** 25266

Well i want the government to pay my rent on my flat.

No real reason, i just want them too.

parmopooly · **Posted:** Fri Oct 03, 2008 3:08 pm

I agree - and I should get a parmo allowance.

Fetish_Bob · **Posted:** Fri Oct 03, 2008 3:15 pm

parmopooly wrote:

I agree - and I should get a parmo allowance.

Think that will cost the government more than bailing out the banks/finance houses

parmopooly · **Posted:** Fri Oct 03, 2008 3:20 pm

I'll be the new Peter Jones!!!

verbalkint · **Joined:** Thu Dec 20, 2007 9:08 pm **Posts:** 3135

Ive just sold my house i built as a investment for £175,000 less than what the asking price was last year, it was a case of either hanging on to it and trying to ride it out or get rid now and move on.

I can see this lasting for a few years, i know a women who works in a estate agents in the town and she told me they are getting 1 house a week in that has been repossessed

parmopooly · **Posted:** Fri Oct 03, 2008 3:37 pm

there's always someone who profits from other folks' misery. I find that very distasteful, and I could never attend auctions for property even if I had the cash.
Profiting from someone else's misfortune just seems wrong to me.

This bailing out of banks

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