| Free tickets for the great Labour race to the bottom 13:37 - Sep 23 with 10398 views | hampstead_blue |
Labour want to step in and bail out Thomas Cook to the tune of £250m.
Using that as a case study, any private company will just use them as 'lender of last resort'. The state will underwrite everything.....who is going to pay? Anyone who earns a decent wage.....
Labour want to appropriate private school assets and distribute to the other schools.
Join in for the great Labour race to the bottom.........
and the number of scary things under the bed gets bigger and bigger.
Oh, no point in posting 'and the tories are worse'......try and offer a reasoned and sensible argument for the above. |  |
| Assumption is to make an ass out of you and me.
Those who assume they know you, when they don't are just guessing.
Those who assume and insist they know are daft and in denial.
Those who assume, insist, and deny the truth are plain stupid.
Those who assume, insist, deny the truth and tell YOU they know you (when they don't) have an IQ in the range of 35-49.
| | Poll: | Best Blackpool goal |
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| Free tickets for the great Labour race to the bottom on 23:33 - Sep 23 with 3381 views | BrixtonBlue |
| Free tickets for the great Labour race to the bottom on 23:03 - Sep 23 by Ely_Blue |
Nice to know our govt wouldn’t help out, after all they helped out the banks and let’s not forget before people blurt on about needing the banks etc, that our govt also bailed out the ECML when that franchise went belly up a few years ago |
Some people have short memories. |  |
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| Free tickets for the great Labour race to the bottom on 06:46 - Sep 24 with 3357 views | C_HealyIsAPleasure |
| Free tickets for the great Labour race to the bottom on 23:33 - Sep 23 by BrixtonBlue |
Some people have short memories. |
We’ve done the banks. The ECML is also very different in that that collapsing would have left millions without the ability to commute - so again significant impact on the wider economy. That said there is definitely a debate to be had re the way in which the government resolved that situation, but it’s not comparable to Thomas Cook in any way |  |
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| Free tickets for the great Labour race to the bottom on 06:51 - Sep 24 with 3356 views | C_HealyIsAPleasure |
| Free tickets for the great Labour race to the bottom on 23:28 - Sep 23 by BrixtonBlue |
haha, really?! You're defending the Tory honour here are you?!
I don't normally say LOL, but LOL! |
You what??
Not sure where you think I’ve defended the Tories honour, apart from pointing out that it was a Labour government that (quite rightly) bailed out the banks [Post edited 24 Sep 2019 6:52]
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| Free tickets for the great Labour race to the bottom on 08:28 - Sep 24 with 3313 views | GlasgowBlue |
| Free tickets for the great Labour race to the bottom on 06:51 - Sep 24 by C_HealyIsAPleasure |
You what??
Not sure where you think I’ve defended the Tories honour, apart from pointing out that it was a Labour government that (quite rightly) bailed out the banks [Post edited 24 Sep 2019 6:52]
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The bank bail out was 7BC (Before Corbyn). Everyone was a Tory back then. Blair was a Tory, Brown was a Tory. Even lifelong labour members who had devoted every minute of their spare time campaigning to get rid of the Tories were Tories.
Pure Labour only started in September 2015. They’ll be teaching this in school once they’ve abolished ofsted and taken control of what our children are taught. |  |
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| Free tickets for the great Labour race to the bottom on 08:39 - Sep 24 with 3312 views | hampstead_blue |
| Free tickets for the great Labour race to the bottom on 08:28 - Sep 24 by GlasgowBlue |
The bank bail out was 7BC (Before Corbyn). Everyone was a Tory back then. Blair was a Tory, Brown was a Tory. Even lifelong labour members who had devoted every minute of their spare time campaigning to get rid of the Tories were Tories.
Pure Labour only started in September 2015. They’ll be teaching this in school once they’ve abolished ofsted and taken control of what our children are taught. |
there won't be any schools.
Property is theft. We will be over run by the loonie left.
This country will look like the set of Walking Dead with Momentum members prowling the land for those who 'do not believe' and ripping them apart or converting them to the walking dead. | |
| Assumption is to make an ass out of you and me.
Those who assume they know you, when they don't are just guessing.
Those who assume and insist they know are daft and in denial.
Those who assume, insist, and deny the truth are plain stupid.
Those who assume, insist, deny the truth and tell YOU they know you (when they don't) have an IQ in the range of 35-49.
| | Poll: | Best Blackpool goal |
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| Free tickets for the great Labour race to the bottom on 09:15 - Sep 24 with 3294 views | ElephantintheRoom |
Not strictly true is it? They want companies like TC to insure themselves against collapse and their directors (and accountants) not to profit to the tune of tens of millions from dodgy accounting whilst running up huge debts which became unsustainable after Brexit. Given that the alleged £600 million repatriation cost has been quietly revised down to a less eye-watering figure by creative accounting it still begs the question why TC staff and planes in place were not paid to bring back the TC customers in place - but I suspect the cabinet were more interested in their hedge fund positions by monday morning. When all is said and done the Tory party and government has a huge responsibility for the demise of companies due to Brexit in Brexit supporting areas. A nice gesture from Labour that they will never have to deliver on. |  |
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| Free tickets for the great Labour race to the bottom on 09:21 - Sep 24 with 3289 views | hampstead_blue |
| Free tickets for the great Labour race to the bottom on 09:15 - Sep 24 by ElephantintheRoom |
Not strictly true is it? They want companies like TC to insure themselves against collapse and their directors (and accountants) not to profit to the tune of tens of millions from dodgy accounting whilst running up huge debts which became unsustainable after Brexit. Given that the alleged £600 million repatriation cost has been quietly revised down to a less eye-watering figure by creative accounting it still begs the question why TC staff and planes in place were not paid to bring back the TC customers in place - but I suspect the cabinet were more interested in their hedge fund positions by monday morning. When all is said and done the Tory party and government has a huge responsibility for the demise of companies due to Brexit in Brexit supporting areas. A nice gesture from Labour that they will never have to deliver on. |
Brexit has nothing to do with the demise of TC.
Reports on R4 yesterday stated that TC has been living in the past, selling via brochures and the high street rather than online.
Analysts have red flagged this company for along time.
Your point about debt becoming unsustainable 'after Brexit'....what do you mean?
I can see no real reality behind your argument. It's more a rant at Tories.
Also, a company can insure against itself, it's call a credit default swap....however, as this is an instrument designed to rise in value when the company fails, it would seem a bit odd to be backing yourself to fail..... | |
| Assumption is to make an ass out of you and me.
Those who assume they know you, when they don't are just guessing.
Those who assume and insist they know are daft and in denial.
Those who assume, insist, and deny the truth are plain stupid.
Those who assume, insist, deny the truth and tell YOU they know you (when they don't) have an IQ in the range of 35-49.
| | Poll: | Best Blackpool goal |
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| Free tickets for the great Labour race to the bottom on 09:40 - Sep 24 with 3272 views | StokieBlue |
| Free tickets for the great Labour race to the bottom on 09:21 - Sep 24 by hampstead_blue |
Brexit has nothing to do with the demise of TC.
Reports on R4 yesterday stated that TC has been living in the past, selling via brochures and the high street rather than online.
Analysts have red flagged this company for along time.
Your point about debt becoming unsustainable 'after Brexit'....what do you mean?
I can see no real reality behind your argument. It's more a rant at Tories.
Also, a company can insure against itself, it's call a credit default swap....however, as this is an instrument designed to rise in value when the company fails, it would seem a bit odd to be backing yourself to fail..... |
That's not entirely how a CDS works. If you buy one they have negative value until there is a default - they don't really rise in the normal way (although an argument could be made).
Companies can't really buy CDS on themselves though, it opens up all kinds of questions from the regulators, insider trading being one, conflict of interest being another. Nobody has better inside knowledge on a company than that company itself.
It's easy to understand why people think hedge funds profiting from CDS on defaulted companies is wrong though.
SB |  |
| Avatar - IC410 - Tadpoles Nebula |
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| Free tickets for the great Labour race to the bottom on 09:48 - Sep 24 with 3256 views | chicoazul |
| Free tickets for the great Labour race to the bottom on 13:39 - Sep 23 by footers |
Why are banks excepted from this rule, then? |
You're not asking me so beg your pardon, but facing a systemic collapse of several huge financial institutions versus floating a travel company for a few weeks who will probably need bailing out again soon afterwards is not really comparable. And I speak as someone who believes austerity was avoidable for precisely the sentiments you outline.
EDIT; and now I see I should have read the thread before commenting, but when does that ever stop me. [Post edited 24 Sep 2019 9:51]
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| Free tickets for the great Labour race to the bottom on 09:52 - Sep 24 with 3244 views | chicoazul |
| Free tickets for the great Labour race to the bottom on 13:56 - Sep 23 by BrixtonBlue |
Yeah the Tories are best mates with a lot of the bankers. |
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| Free tickets for the great Labour race to the bottom on 10:35 - Sep 24 with 3217 views | hampstead_blue |
| Free tickets for the great Labour race to the bottom on 09:40 - Sep 24 by StokieBlue |
That's not entirely how a CDS works. If you buy one they have negative value until there is a default - they don't really rise in the normal way (although an argument could be made).
Companies can't really buy CDS on themselves though, it opens up all kinds of questions from the regulators, insider trading being one, conflict of interest being another. Nobody has better inside knowledge on a company than that company itself.
It's easy to understand why people think hedge funds profiting from CDS on defaulted companies is wrong though.
SB |
Not the best example I know.
Is it wrong for hedge funds to profit on a downturn?
A downturn is just a movement of a price. I can see there may be a slightly bitter taste, but 'every action having an opposite and equal reaction' is kind of life.
We, the every day investor, can access a myriad of hedge funds, OK not all but we can invest in a large number if we chose to do so. | |
| Assumption is to make an ass out of you and me.
Those who assume they know you, when they don't are just guessing.
Those who assume and insist they know are daft and in denial.
Those who assume, insist, and deny the truth are plain stupid.
Those who assume, insist, deny the truth and tell YOU they know you (when they don't) have an IQ in the range of 35-49.
| | Poll: | Best Blackpool goal |
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| Free tickets for the great Labour race to the bottom on 10:46 - Sep 24 with 3207 views | StokieBlue |
| Free tickets for the great Labour race to the bottom on 10:35 - Sep 24 by hampstead_blue |
Not the best example I know.
Is it wrong for hedge funds to profit on a downturn?
A downturn is just a movement of a price. I can see there may be a slightly bitter taste, but 'every action having an opposite and equal reaction' is kind of life.
We, the every day investor, can access a myriad of hedge funds, OK not all but we can invest in a large number if we chose to do so. |
I don't have a problem with hedge funds using their own money to bet against a company or country. The issue is when they try to facilitate that outcome as one could argue they did by donating to the leave campaign whilst short selling the pound.
There is a further valid argument that if people are buying a lot of CDS on a company then the credit spread could rise and thus the company seems more risky in general. This could prevent them raising funding at a sensible price. That is certainly an issue which could be open to debate although the positions would have to be massive to be noticed.
SB | |
| Avatar - IC410 - Tadpoles Nebula |
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| Free tickets for the great Labour race to the bottom on 13:36 - Sep 24 with 3158 views | SuperKieranMcKenna |
Insurers are picking up most of the bill from the collapse, not the tax payer..
Politicians are playing politics with it. | | | |
| Free tickets for the great Labour race to the bottom on 13:51 - Sep 24 with 3143 views | sotd78 |
| Free tickets for the great Labour race to the bottom on 13:39 - Sep 23 by footers |
Why are banks excepted from this rule, then? |
Banking affects the WHOLE country - from poorest to richest. Thomas Cook is just a holiday company . there's a significant difference.
£200 m would have solved a problem for a very short period; £600m to repatriate everyone abroad is a finite, once-only sum of money. |  |
| Blue shirts/white shorts - sotd78 |
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| Free tickets for the great Labour race to the bottom on 14:07 - Sep 24 with 3138 views | Churchman |
| Free tickets for the great Labour race to the bottom on 13:58 - Sep 23 by C_HealyIsAPleasure |
Gordon Brown was Prime Minister when the banks were bailed out |
My understanding that it was Gordon Brown in addition to hosing govt spending on goodness knows what, split bank regulation between the Bank of England and the toothless, hapless FSA and allowed banks to do what they did e.g. reduce their reserve asset ratio, gamble on bundled securities etc.
The tories are guilty of many heinous things, but the financial crash wasn’t one of them. It happened on Brown’s watch. Fortunately, the man whose lap it landed in was in my view the most capable Chancellor for decades - Alistair Darling. |  | | |
| Free tickets for the great Labour race to the bottom on 14:46 - Sep 24 with 3121 views | BrixtonBlue |
| Free tickets for the great Labour race to the bottom on 14:07 - Sep 24 by Churchman |
My understanding that it was Gordon Brown in addition to hosing govt spending on goodness knows what, split bank regulation between the Bank of England and the toothless, hapless FSA and allowed banks to do what they did e.g. reduce their reserve asset ratio, gamble on bundled securities etc.
The tories are guilty of many heinous things, but the financial crash wasn’t one of them. It happened on Brown’s watch. Fortunately, the man whose lap it landed in was in my view the most capable Chancellor for decades - Alistair Darling. |
Gordon Brown caused the global financial crash? Blimey, that's some going. | |
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| Free tickets for the great Labour race to the bottom on 14:47 - Sep 24 with 3118 views | SpruceMoose |
| Free tickets for the great Labour race to the bottom on 14:07 - Sep 24 by Churchman |
My understanding that it was Gordon Brown in addition to hosing govt spending on goodness knows what, split bank regulation between the Bank of England and the toothless, hapless FSA and allowed banks to do what they did e.g. reduce their reserve asset ratio, gamble on bundled securities etc.
The tories are guilty of many heinous things, but the financial crash wasn’t one of them. It happened on Brown’s watch. Fortunately, the man whose lap it landed in was in my view the most capable Chancellor for decades - Alistair Darling. |
I think your understanding may be a little too narrow in the factors it takes into consideration. |  |
| Pronouns: He/Him/His.
"Imagine being a heterosexual white male in Britain at this moment. How bad is that. Everything you say is racist, everything you say is homophobic. The Woke community have really f****d this country." | | Poll: | Selectamod |
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| Free tickets for the great Labour race to the bottom on 16:53 - Sep 24 with 3092 views | C_HealyIsAPleasure |
| Free tickets for the great Labour race to the bottom on 14:07 - Sep 24 by Churchman |
My understanding that it was Gordon Brown in addition to hosing govt spending on goodness knows what, split bank regulation between the Bank of England and the toothless, hapless FSA and allowed banks to do what they did e.g. reduce their reserve asset ratio, gamble on bundled securities etc.
The tories are guilty of many heinous things, but the financial crash wasn’t one of them. It happened on Brown’s watch. Fortunately, the man whose lap it landed in was in my view the most capable Chancellor for decades - Alistair Darling. |
There’s perhaps some merit in suggesting that Labours overall approach to the economy in the years prior to the crash could have included more of a rainy day provision, but it seems rather a stretch to foot responsibility for the crash at Brown’s door given the global impact...
Well done for coming up with a point as ridiculous as Dolly’s suggestion that the banks were bailed out as they’re mates with the Tories though | |
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| Free tickets for the great Labour race to the bottom on 17:04 - Sep 24 with 3075 views | BrixtonBlue |
| Free tickets for the great Labour race to the bottom on 16:53 - Sep 24 by C_HealyIsAPleasure |
There’s perhaps some merit in suggesting that Labours overall approach to the economy in the years prior to the crash could have included more of a rainy day provision, but it seems rather a stretch to foot responsibility for the crash at Brown’s door given the global impact...
Well done for coming up with a point as ridiculous as Dolly’s suggestion that the banks were bailed out as they’re mates with the Tories though |
Sorry, where did I suggest that? | |
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| Free tickets for the great Labour race to the bottom on 17:16 - Sep 24 with 3054 views | C_HealyIsAPleasure |
| Free tickets for the great Labour race to the bottom on 17:04 - Sep 24 by BrixtonBlue |
Sorry, where did I suggest that? |
On page 1 of this thread | |
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| Free tickets for the great Labour race to the bottom on 17:37 - Sep 24 with 3039 views | BrixtonBlue |
| Free tickets for the great Labour race to the bottom on 17:16 - Sep 24 by C_HealyIsAPleasure |
On page 1 of this thread |
Nope. Read it again. | |
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| Free tickets for the great Labour race to the bottom on 17:40 - Sep 24 with 3033 views | SpruceMoose |
| Free tickets for the great Labour race to the bottom on 17:37 - Sep 24 by BrixtonBlue |
Nope. Read it again. |
Could you explain what you meant by your comment Dollers? It does look a little like you're guilty as charged so what are we missing? | |
| Pronouns: He/Him/His.
"Imagine being a heterosexual white male in Britain at this moment. How bad is that. Everything you say is racist, everything you say is homophobic. The Woke community have really f****d this country." | | Poll: | Selectamod |
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| Free tickets for the great Labour race to the bottom on 17:44 - Sep 24 with 3027 views | BrixtonBlue |
| Free tickets for the great Labour race to the bottom on 17:40 - Sep 24 by SpruceMoose |
Could you explain what you meant by your comment Dollers? It does look a little like you're guilty as charged so what are we missing? |
I just said the Tories are best mates with a lot of the bankers. Just making a general overall comment. Didn't mean to imply anything else. | |
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| Free tickets for the great Labour race to the bottom on 17:44 - Sep 24 with 3025 views | SpruceMoose |
| Free tickets for the great Labour race to the bottom on 17:44 - Sep 24 by BrixtonBlue |
I just said the Tories are best mates with a lot of the bankers. Just making a general overall comment. Didn't mean to imply anything else. |
Ta | |
| Pronouns: He/Him/His.
"Imagine being a heterosexual white male in Britain at this moment. How bad is that. Everything you say is racist, everything you say is homophobic. The Woke community have really f****d this country." | | Poll: | Selectamod |
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| Free tickets for the great Labour race to the bottom on 18:17 - Sep 24 with 3005 views | C_HealyIsAPleasure |
| Free tickets for the great Labour race to the bottom on 17:37 - Sep 24 by BrixtonBlue |
Nope. Read it again. |
I have. Footers commented that the banks had previously been bailed out. I noted that the situations were completely different, you then replied ‘Yeah, the Tories were best mates with a lot of bankers’
EDIT: not really sure how you can claim otherwise but I see you still are, never change Dollers [Post edited 24 Sep 2019 18:18]
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