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Topic History of: Is the "bail-out" a conspiracy ?
Max. showing the last 5 posts - (Last post first)

Author	Message
BR	In the USA they are just waking up to the fact that much of the bailout is for UK banks. So I doubt if it will pass congress now - may scrape through the Senate tonight. Senator Dodds who is leading the charge for the bail out is funded by 5 big companies.....including THE BANK OF SCOTLAND ( who rob all of us who have accounts with them with sharp practice * ) If you go near your limit with RBS they start changing the dates of your direct debits - this means on one day ALL OF THEM can be presented - and then your account goes overdrawn - they charge
veritas	I agree with DJones-the"ripple"effect could be quite terrifying. It must happening in the UK-it's happening here in Australia after the government encouraged people to invest in superannuation about 15 years ago and suddenly the value of that super has dropped overnight with this crisis. This means a whole swag of people who could self-fund their retirement will now rely on government subsidies..what next-more taxes to pay for a whole host of "ripple" effect problems ?. PS: I heard Rupert Murdoch on Sydney radio in 2004 say :"the Iraq War is going swimingly and by next year oil should be $20 a barrel !"
BR	I agree there could be some "pain" in the developed world - but when you consider the Undeveloped World is struggling to pay for enough food to eat because of the rising credit costs perhaps it would be better to let the market correct itself to proper levels. I feel that the "poor" of the World are always being made to pay the costs of the "rich" This whole crisis seems to be an illusion. They say Markets Will Crash - yet within hours Asian stocks were rebounding and also the FTSE. Something does not feel at all right about all of this. Walk around the West End on this weekend and tell me that we are in a credit crunch ? or go to Tescos tonight shopping ? Yes - some businesses are always going to go to the wall ( this time it is the weak banks turn ) but I think the economy is very healthy and this is a way of the Governments increasing taxes through the back door again. You only have to look at the price of oil - now around 90 dollars a barrel - just 8 weeks ago it was 147 due to "economic growth and demand" - this put 20% on food and fuel costs for us all ( And our energy bills now reflect this ) yet 8 weeks later we are told there is no growth and no demand and the economy is on the rocks.......will we see the Energy Companies cut the prices to reflect the price of oil ? will we see food come back down to the price it was at the beginning of the year ? We are being lied to - the economic "market" is toying with the public trying to screw more money out of us. Simple as that. Pretending all is brilliant so prices go up - and then pretending everything is bad so prices go down FOR THEM and yet we are all stranded high and dry with the costs of the BRILLIANT. This is basically one of the biggest cons ever done on the public - and yet many people have not even realised what has been done. It is smoke and mirrors on our dumbed down population. There is no credit crunch - it is self made by the bankers.
DJones	This is a very good article: "Take A Deep Breath: Some Perspective On The Financial Crisis" http://techdirt.com/articles/20080929/0426042403.shtml "There's a common refrain among many, many people, that this is just the result of greedy Wall Street bankers, and the proper thing to do here is to just let them all fail. It's not that easy. The ripple effects here would be pretty serious -- and while I don't think the economy would fully seize up, it would be really painful across the board. The lack of liquidity in the commercial paper world (short term lending, mostly) would impact a lot of businesses that you might not think have such exposure to Wall Street.* And that, in turn, could create an ongoing spiral" *Guy Hands could certainly elaborate on this point ...
BR	Looks as if BUSH was bluffing. Stability today on the markets - just threats by bankers to cut creditlines to customers ( Banks really are nasty institutions ! ) They wanted the bailout to pay themselves more and guarantee their futures - at TAXPAYERS expense. The MARKET is actually going up today because investors dont seem to be ruffled by everything. We are in a recession - they need to realise that they cant stop it - they just want to get their noses in the trough first. In fact if we bail out the bankers then where will the money come from to bail out the rest of us in hard times ?