UK Bank Bail Out
By dragonstar1
@dragonstar1 (330)
August 7, 2008 5:11am CST
This is happening in the UK as well as the US.
I'm still a little miffed how a large finance comapny is allowed to get away with mis-management and greed?
The way I see it is, the share holders wanted to put lots of profit in their back pockets (they did not think about repercussions).
Then rather than being made to reinvest some of this profit, our governments have given our money to them.
Also now the interest rates are on the increase, who suffers? Not the shareholders thats for sure. They will still make profit and spend it in sectors where there is little benefit to the general public.
While we suffer as the the governemnts purse strings tighten and money cannot be spent in the correct places and in the meantime we all pay more on our mortgages because of someone elses greed.
I say make the shareholders dip in to their massive profits and prop up their own mistake!
The public are under too much burden already!
1 response
@dragonstar1 (330)
•
3 Oct 08
I've spent quite a lot of time looking in to this and find corruption around every corner.
Fromn what I can see when the bank lend to you, they generally didnt have the money there, however because you are going to pay them at a future date, they are allowed to record the whole amount as an asset. Hmmmmm
No money suddenly becomes and asset, doesn't quite seem logical.
This is happening in pretty much every westernised country. I also read an interesting article on whenthe problems started, it seems the Uk and at least France have been broke for about 300years, scary or what? Now I start realising why we have this issue, because these debts eventually get called in, however the government can set much longer periods to pay back the IMF, IBS or CEB etc.
I was interested to learn that when the UK sold off gold over the last 10 years the sum of the sale was payable in dollars to the fed. That makes me ask lots of questions!
