Archive for the ‘greed’ tag
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who else agrees with my understanding of ” the recession “?
the recession began because of the greed of directors and managers of the banks we use to look after and manage our money and finances,sure there was a property boom prices of property were constantly rising a good time to buy to invest in property.Banks were eager to lend people money to buy property,the money paid back was considerably more than the money borrowed so bank managers and the like saw this as a boom time for themselves.
I am Mr. General public and I have never pretended to know much about the banking system but I did wonder where all the money was coming from as house prices continued to rise and banks continued eagerly to give morgagesand to lend money it became increasingly obvious that the money did not exist only the prices of real estate existed,the directors and managers of banks new that money existed they were using it to award themselves collosall bonuses in exchange for the bubble,the false economy they were creating, a bubble that was waiting to burst but that was not going to be their problem they received more money as a bonus along with managing directors of many companies than I will earn in a lifetime, this false economy allowed them all to be grossly overpaid.Enough said the bubble burst and we have a recession.
Financial institutions ( banks,places that employ people,shops,companies) now have to face a different reality. the truth being there is not as much money to go round as they had thought. Shares plunge,many people have their work taken away from them, not enough money to pay them anymore, businesses colapse.
Now we have a recession ( over 3 or is it 6 months without economic growth) and it is not likely to go away while general public is scared of spending his money.
Well done the media, news broadcasters and newspapers who seem to revel in being able to tell us (general public) about statistics we do not need to know representing the economic gloom they are helping to create, look at yourself in the mirror Mr.Newscaster and the producers behind you when you continue to stoke the flames of recession.Best advice to general public is to stop watching"the news" which is a form of propaganda in fluencing the way we think and installing the fears of recession which continue to keep the recession going. In time general public will relax again stop living with economic fear and spend money more freely(if they have money) once again thanks to the overpaid directors whose greed started this ball roling and thanks to the media and its employees who make sure recession will last,it makes easy news for them, I expect their jobs are secure
Should the bankers be jailed?
The world of finance which affects each and everyone of us is in turmoil and yet the people responsible for this horrendous mess stay untouched.
As the international banking and finance business is protected by governments in a way that no other business is, shouldn’t the people who run these businesses have to be more responsible for their actions.
It may make them behave more resonsibly if they knew that they would go to jail for a long time should their businesses go belly up because of their mismanagement and greed.
Part 1/2 Bird & fortune – Financial crisis – Silly Money, Nov 08
2nd Nov 2008. John Bird and John Fortune on Silly Money satirising the absurdity of the financial crisis.
Part 2/2 Bird & fortune – Financial crisis – Silly Money, Nov 08
2nd Nov 2008. Bird and Fortune on Silly Money satirising the absurdity of the financial crisis.
