o/t food for thought 10 years on

[sawmiller]

see link - interesting read:


https://www.independent.co.uk/news/b...-a8531581.html

[sickly_child]

All for the free market until it goes teets up. Then turn to a socialist notion of government bail outs. Word is it could easily happen again, terrific.

[sawmiller]

All for the free market until it goes teets up. Then turn to a socialist notion of government bail outs. Word is it could easily happen again, terrific.

'Free market' sounds great because it has that seductive word 'free' in it - free for whom though?

A degree of containment of risk is needed in any business - mine included. They aren't adequately capitalised and therein lies a key problem which hasn't adequately been addressed - hence the door is still open for it to happen again

Government bail outs aren't purely a socialist notion - it was to prevent a total collapse, and if folks aren't paid, can't feed their kids, get medicines etc then it could lead to chaos - bail outs were essentially to prevent this

[monty_rhodes]

It will inevitably happen again. But the inevitability of a catastrophic eruption of Mt Vesuvius does not stop people living in Naples.

[great_fire]

It wasn't really the worst financial crisis in history though was it?

In terms of consequences it didn't rival the Great Depression of the 30s.

[sawmiller]

[QUOTE=monty_rhodes;39012586]It will inevitably happen again. But the inevitability of a catastrophic eruption of Mt Vesuvius does not stop people living in Naples.[/QUOTE


Well we can’t stop volcanoes erupting but we can do something about having adequate capitalisation in our financial system

[animallittle3]

Incredible that the main players involved in creating the great financial crash never served a day in prison and retained their ill gotten wealth , many have moved on to other sectors , some are still in the finance industry
.

Their actions were sometimes unlawful and covered up and they created misery for millions upon millions of people and the effects still exist .

They should have locked the lot of em up and thrown the bloody key away .

Shameful .

[KerrAvon]

Incredible that the main players involved in creating the great financial crash never served a day in prison and retained their ill gotten wealth , many have moved on to other sectors , some are still in the finance industry
.

Their actions were sometimes unlawful and covered up and they created misery for millions upon millions of people and the effects still exist .

They should have locked the lot of em up and thrown the bloody key away .

Shameful .

In what way are you saying they were unlawful, animal?

[frogmiller]

Incredible that the main players involved in creating the great financial crash never served a day in prison and retained their ill gotten wealth , many have moved on to other sectors , some are still in the finance industry
.

Their actions were sometimes unlawful and covered up and they created misery for millions upon millions of people and the effects still exist .

They should have locked the lot of em up and thrown the bloody key away .

Shameful .

The people that created it were and still are on the whole the only people who understand it. To have a clean sweep of everyone in that sector at the time no matter how it would have been welcomed it would havemade it even worse.

To have been bailed out as it was needed to happen but the 'quantified easing' came as another lifeline to the banks surely. The governments basically devalued currency and was marketed as a help in hand for busnesses of all sizes. The unfortunate thing about this is that the only way the governments can get money to busnesses is through banks. The banks were then in charge of which companies were worth keeping by either agreeing or denying credit. What is the proportion of money that has been pumped into the econamy through 'Quantitive Easing' and the cushions/assets the banks have today.

All of these actions can be justified but not agreed with. It is a system that has created a way to protect itself through the reliance of everyone needing it.

[animallittle3]

In what way are you saying they were unlawful, animal?

https://www.theatlantic.com/magazine...f-jail/399368/