Globalti
Legendary Member
This might help: http://www.crisisofcredit.com/
Having trouble understanding the financial crisis?
- Thread starter Globalti
- Start date
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Mr Pig
New Member
- Location
- North Lanarkshire
That was great. Really nicly done.
its easy.
Banks have cocked up and gambled all our money away abroad on high risk ventures so the Government have given the banks lots and lots of our money to bail them out.
The banks took the money and instead of lending to us ,paid out all their senior management and execs loads of dividends ,pensions,payoffs and the like so the Government printed more money to give to the banks which has put us in greater debt because ultimately we will be paying for that also.
Simples....
Banks have cocked up and gambled all our money away abroad on high risk ventures so the Government have given the banks lots and lots of our money to bail them out.
The banks took the money and instead of lending to us ,paid out all their senior management and execs loads of dividends ,pensions,payoffs and the like so the Government printed more money to give to the banks which has put us in greater debt because ultimately we will be paying for that also.
Simples....
Fab Foodie
hanging-on in quiet desperation ...
- Location
- Kirton, Devon.
Has Redders seen this yet!!!!!!
Keith Oates
Janner
- Location
- Penarth, Wales
I think it can be explained with one word "Greed"!!!!!!!!!!!!!!!!!!!!!
That video was very informative.
If you have not seen it yet here is the amazingly accurate Bird and Fortune version
View: http://www.youtube.com/watch?v=mzJmTCYmo9g
This clip was extensively used in the USA to explain what was going on
If you have not seen it yet here is the amazingly accurate Bird and Fortune version
View: http://www.youtube.com/watch?v=mzJmTCYmo9g
This clip was extensively used in the USA to explain what was going on
Nicensleazy
Guest
Nice
Cycling Naturalist
Guru
- Location
- Llangollen
Fab Foodie said:
He said something the other day about going to pick his new car up. If he's having lots of fun in a RangeRover Sport Sprint, he's probably forgotten about all the financial woes.
dan_bo
How much does it cost to Oldham?
Good link!
to add on:http://video.google.com/videoplay?docid=-9050474362583451279
and of course:
http://www.thedailymash.co.uk/news/...ritain-into-middle-of-next-week-200903061625/
to add on:http://video.google.com/videoplay?docid=-9050474362583451279
and of course:
http://www.thedailymash.co.uk/news/...ritain-into-middle-of-next-week-200903061625/
Quoth
New Member
It's like a driving a rental car. You almost feel obliged to thrash it because you don't have to worry about servicing, longevity or residual values. That's some other mug's problem.
Now apply that mentality to gambling with other people's money and you've got a pretty good understanding of how the financial system worked until September 07.
Now, instead of owning a pristine, low mileage Golf with a full service history, we the taxpayer are proud guardians of a 100,000 mile cut-and-shut Corsa with a blown head gasket. But hey, it has tinted windows and Kenwood subwoofers. The Chavication of our banks is complete.
Now apply that mentality to gambling with other people's money and you've got a pretty good understanding of how the financial system worked until September 07.
Now, instead of owning a pristine, low mileage Golf with a full service history, we the taxpayer are proud guardians of a 100,000 mile cut-and-shut Corsa with a blown head gasket. But hey, it has tinted windows and Kenwood subwoofers. The Chavication of our banks is complete.
