Treasury to nationalise Bradford & Bungle bank

[Barman]

News just in, the house of representatives has vetoed the rescue package that Bush was trying to force through. I dread to think what that will lead the gormless scots grasper to try next. 

We are truly fucked... 

[Snoopy]

So the bribes offered weren't big enough .... no doubt that will be rectified over the next few days.

Mind you I am not convinced that the $700billion was the answer. I tend toward feeling that those Yanks who are saying "Let those who made the gain feel the pain" may be ight in the end. For sure we don't want to let them feel they can get bailed out of this and then go off and invent another scam ~ and you know they will.

[Barman]

So the bribes offered weren't big enough .... no doubt that will be rectified over the next few days.

Mind you I am not convinced that the $700billion was the answer. I tend toward feeling that those Yanks who are saying "Let those who made the gain feel the pain" may be ight in the end. For sure we don't want to let them feel they can get bailed out of this and then go off and invent another scam ~ and you know they will.

I agree with you, I don't think there should be a bail out... 

Unfortunately though, governments on both sides of the pond have given the banks an expectation of a bail out thus making the results much worse if it doesn't come or is diluted to get the votes it needs.

They really are clueless aren't they...? 

[Snoopy]

Interesting that on the Today programme this morning the point was made that of those who voted NO to the plan the majority were representing "seats" that are considered at risk in the upcoming Congressional elections wheres those that voted yes were almost all from seats" that are considered safe. Put it another way those who could say "fvck you" to their voters and still stay on the gravy train voted to bail out the banks whereas those whose electors had told them "we don't like this idea" and feared that they would have to find another job voted "No". One pro congressman actually said that the No voters would have to be offered better deals for their states....... in other words bigger bribes.
The whole matter is so important that nothing will be done today because of what the BBC are referring to as "Jewish Holidays"

[Barman]

Interesting that on the Today programme this morning the point was made that of those who voted NO to the plan the majority were representing "seats" that are considered at risk in the upcoming Congressional elections wheres those that voted yes were almost all from seats" that are considered safe. Put it another way those who could say "fvck you" to their voters and still stay on the gravy train voted to bail out the banks whereas those whose electors had told them "we don't like this idea" and feared that they would have to find another job voted "No". One pro congressman actually said that the No voters would have to be offered better deals for their states....... in other words bigger bribes.
The whole matter is so important that nothing will be done today because of what the BBC are referring to as "Jewish Holidays"

Yes, I heard all that...

I too was surprised that the Jewish Holidays would stand in the way of a global financial crisis... 

[Darwins Selection]

Interesting that on the Today programme this morning the point was made that of those who voted NO to the plan the majority were representing "seats" that are considered at risk in the upcoming Congressional elections wheres those that voted yes were almost all from seats" that are considered safe. Put it another way those who could say "fvck you" to their voters and still stay on the gravy train voted to bail out the banks whereas those whose electors had told them "we don't like this idea" and feared that they would have to find another job voted "No". One pro congressman actually said that the No voters would have to be offered better deals for their states....... in other words bigger bribes.
The whole matter is so important that nothing will be done today because of what the BBC are referring to as "Jewish Holidays"

Yes, I heard all that...

I too was surprised that the Jewish Holidays would stand in the way of a global financial crisis... 

They certainly wouldn't if the Bank of Tel Aviv was in trouble. 

It is just a way of showing Bush who is in charge over there.

[Barman]

Interesting that on the Today programme this morning the point was made that of those who voted NO to the plan the majority were representing "seats" that are considered at risk in the upcoming Congressional elections wheres those that voted yes were almost all from seats" that are considered safe. Put it another way those who could say "fvck you" to their voters and still stay on the gravy train voted to bail out the banks whereas those whose electors had told them "we don't like this idea" and feared that they would have to find another job voted "No". One pro congressman actually said that the No voters would have to be offered better deals for their states....... in other words bigger bribes.
The whole matter is so important that nothing will be done today because of what the BBC are referring to as "Jewish Holidays"

Yes, I heard all that...

I too was surprised that the Jewish Holidays would stand in the way of a global financial crisis... 

They certainly wouldn't if the Bank of Tel Aviv was in trouble. 

It is just a way of showing Bush who is in charge over there.

That's prolly it... I noticed that they negotiated all over the weekend to try and get an agreement before Asian markets opened yet now everything has to be put on hold... 

[Bar Wench]

What would the bailout actually acheive? I am still struggling to understand how it stabalises the market, especially longterm. Surely it just puts off the inevitable?

[Snoopy]

 Over valuations are one cause of the problem and a willingness to lend against them. Thing is the money is still out there somewhere. Find who has it and take it back.

[Nick]

I want a gun

[Darwins Selection]

I have deliberately spoilt this thread

I still can't see where

[Nick]

Interesting that the US legislature gets to discuss this and vote on it. And what are our Parliamentary representatives up to?

[Barman]

Interesting that the US legislature gets to discuss this and vote on it. And what are our Parliamentary representatives up to?

Dividing up the spoils between them and their mates I would imagine... 

[Snoopy]

So the Irish have guaranteed 100% of savings in their banks, the Greeks have done the same and today the Germans have announced a similar guarantee. So much for solidarity in the EU then.

[Uncle Mort]

The Germans have only guaranteed retail savings and not all liabilities. That has always been implicit anyway. I assume the same will now happen Europewide.