Comments on: How the UK wants to deal with its biggest banks http://blogs.reuters.com/felix-salmon/2011/06/14/how-the-uk-wants-to-deal-with-its-biggest-banks/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: FifthDecade http://blogs.reuters.com/felix-salmon/2011/06/14/how-the-uk-wants-to-deal-with-its-biggest-banks/comment-page-1/#comment-27698 Sat, 18 Jun 2011 15:40:33 +0000 http://blogs.reuters.com/felix-salmon/?p=8655#comment-27698 I don’t pretend to understand much of US politics, but the least understandable of all US political bodies has to be the US Senate.

What has given the UK government a dose of common sense is the presence of a Third Party, the Liberal Democrats, now in coalition with the right wing Conservatives. The origin of much of the common sense from the Lib Dems comes from their chief financial politician who has a PhD in Economics and was CFO of a multi-national oil company before entering politics.

It seems the US Senate could do with rather more real experts, and rather less partisan politics.

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By: badpenny http://blogs.reuters.com/felix-salmon/2011/06/14/how-the-uk-wants-to-deal-with-its-biggest-banks/comment-page-1/#comment-27648 Thu, 16 Jun 2011 16:37:23 +0000 http://blogs.reuters.com/felix-salmon/?p=8655#comment-27648 Don’t know who Scott Sumner is, but his argument is horse manure. Let’s start with his notion that commercial real estate (the collapse of which was the cause of all our woes) was fine until NGPD “suddenly fell 8% below trend.” Sumner never offers no explanation as to how or why that happened. It’s some mysterious act of God apparently, or something. He even uses that old favorite of bank apologists: no one could have predicted such a fall. Well, I’ll posit a reason that doesn’t require an appeal to an omniscient being for NGPD falling off a cliff: the housing bubble and the subsequent financial implosion. A housing bubble inflated by bankers and their bum rush to get anyone and everyone who could spell their name into sub prime mortgages. How’s that for an explanation?

Oh, and we can’t blame the too big to fail banks because the too big to fail banks are repaying their TARP loans? WTF?!? Um, there would have been no need for TARP if the financial system hadn’t imploded and we didn’t want those too big to fail banks to, you know, fail. TARP was implemented because the banks *were* too big to fail and are only bigger now. In addition, TARP is but a fraction of the total bailout, the rest of which, to my knowledge, the banks aren’t planning on ever paying back.

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By: TGGP http://blogs.reuters.com/felix-salmon/2011/06/14/how-the-uk-wants-to-deal-with-its-biggest-banks/comment-page-1/#comment-27620 Wed, 15 Jun 2011 16:00:27 +0000 http://blogs.reuters.com/felix-salmon/?p=8655#comment-27620 Scott Sumner says conventional banking was really to blame, not exotic derivatives or whatnot:
http://www.themoneyillusion.com/?p=6756

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By: Woltmann http://blogs.reuters.com/felix-salmon/2011/06/14/how-the-uk-wants-to-deal-with-its-biggest-banks/comment-page-1/#comment-27604 Wed, 15 Jun 2011 02:20:47 +0000 http://blogs.reuters.com/felix-salmon/?p=8655#comment-27604 The Brits don’t have the US Senate to deal with. This is arguably the most corrupt political body in modern times ..

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