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Pondlife
29th September 2008, 17:45
Current votes

Yes 192
No 218
Not voted yet 26

It's going to be close

PAH
29th September 2008, 17:56
In the words of George Bush "This sucker could go down". It has. :eek:

Pondlife
29th September 2008, 17:56
Final tally

Yes 207
No 226

Apparently the voters can change their minds/votes though.

chef
29th September 2008, 17:58
yeah but what's going on now is that the "whips" are going round to the no voters trying to convince them to change the vote, the vote is being kept closed until enough yes votes are ready.. thats not democracy in my view.. the vote has been called, so accept it

Pondlife
29th September 2008, 18:02
Only 1 Rep has switched to yes so far.

chef
29th September 2008, 18:09
what a sham, it's a no vote so as far as i see it, it's been declined, move on to financial armageddon, lets try that

Pondlife
29th September 2008, 18:11
Sham indeed.

All the pundits are saying is... ummmm... so now what...

chef
29th September 2008, 18:15
bush's own people are those that had the majority of the no vote...

ooo that's gotta be embarrassing

PAH
29th September 2008, 18:17
bush's own people are those that had the majority of the no vote...

ooo that's gotta be embarrassing


Good negotiation skills. Bush knows they'll change their mind if he stumps up enough oil shares.

Cyberman
29th September 2008, 19:18
http://news.bbc.co.uk/2/hi/business/7641733.stm

:suicide:

scooterscot
29th September 2008, 19:28
This is good news.

Or to use labour speak 'this is a good day for bad news'

NickFitz
29th September 2008, 19:28
http://news.bbc.co.uk/2/hi/business/7641733.stm

:suicide:


"So grave are the consequences of this decision, reports the BBC's Kevin Connolly from Washington, that the speaker of the house paused for several long minutes after the vote was taken before declaring it official."

Probably contemplating the possibility of a CIA hit squad storming in and shooting them all on direct orders from Dubya :laugh

Bagpuss
29th September 2008, 19:31
Why should the taxpayer bail out the banks? Let them fall.

DiscoStu
29th September 2008, 19:35
Why should the taxpayer bail out the banks? Let them fall.

Because the more banks fail, the more banks will be reluctant to lend to each other due to a lack of confidence that the bank they're lending to will stay solvent.

This will lead to further seizure of the credit markets, which will make things worse for everyone. All but the most creditworthy customers will be unable to get credit, businesses will be unable to get credit for investment, any recession will be made lots worse...

Doomed.

Cyberman
29th September 2008, 19:39
Why should the taxpayer bail out the banks? Let them fall.


I tend to agree. At least we know that HSBC will survive, because they are just about the only major bank that has a surplus of deposits over loans. The best outcome will be the inevitable downfall of our incompetent HMG and a return to sensible housekeeping. :yay:

Bagpuss
29th September 2008, 19:43
and if the Halifax had remained a mutal it would still exist. They can learn alot from the likes of The Nationwide i.e. operating on a sustainable model.

Let the market decide

scooterscot
29th September 2008, 19:44
Because the more banks fail, the more banks will be reluctant to lend to each other due to a lack of confidence that the bank they're lending to will stay solvent.

This will lead to further seizure of the credit markets, which will make things worse for everyone. All but the most creditworthy customers will be unable to get credit, businesses will be unable to get credit for investment, any recession will be made lots worse...

Doomed.


That's why it's good news. People and businesses have enough debt already. The reset button needs pressing.

HeliCraig
29th September 2008, 19:45
Anybody fancy a bet on falling markets tomorrow in London?

I see the Dow currently stands 4.5% down!

scooterscot
29th September 2008, 19:45
The Nationwide i.e. operating on a sustainable model.

Transferred all me wonga there 7 months ago... finger on the pulse!

smug mode on :banana:

scooterscot
29th September 2008, 19:46
Anybody fancy a bet on falling markets tomorrow in London?!

Let's shortsell on the Dim Prawn Ltd....

HeliCraig
29th September 2008, 19:49
Let's shortsell on the Dim Prawn Ltd....

Before they get suspended by the markets!!

Cyberman
29th September 2008, 19:53
Because the more banks fail, the more banks will be reluctant to lend to each other due to a lack of confidence that the bank they're lending to will stay solvent.

This will lead to further seizure of the credit markets, which will make things worse for everyone. All but the most creditworthy customers will be unable to get credit, businesses will be unable to get credit for investment, any recession will be made lots worse...

Doomed.




I've got enough savings to last me many years so bring it on. It's a shame that we live in such a materialistic society that so many people buy goods with total disregard to whether they can really afford them and put nothing away for a rainy day. Now they will surely learn the error of their ways. :eek

Jubber
29th September 2008, 19:53
That's why it's good news. People and businesses have enough debt already. The reset button needs pressing.

Yup - it will happen whatever they do. All this is just rearranging chairs on the Titanic (to quote a much used phrase).

But it will come back again. Not good news if you have oodles of debt and a few mortgages, but then again, no one held you down to take it/them out in the first place. Investments can go up as well as down.

DiscoStu
29th September 2008, 19:54
That's why it's good news. People and businesses have enough debt already. The reset button needs pressing.

I'd agree except for the fact that people who still can afford credit will be turned down. For example, nobody will be able to buy a new car on finance, even if they're well able to afford the repayments. Then we get falling sales, cuts in production, cuts in employment, the knock on effect on other businesses caused by falling spending because of increasing unemployment, etc etc...

Cyberman
29th September 2008, 19:58
Try reading this thread Diestl :laugh:happy:rollin::wink

scooterscot
29th September 2008, 19:59
Not good news if you have oodles of debt and a few mortgages, but then again, no one held you down to take it/them out in the first place. Investments can go up as well as down.

Too true - and that's why support mechanisms need to be put on full alert. People torching their houses, suicide by chain-saw are some of the true victims of London's cream greed.

DiscoStu
29th September 2008, 20:00
Dow Jones just closed down 590 points :eek

Jubber
29th September 2008, 20:02
..
suicide by chain-saw ....

Knowing my luck the b@stard wouldn't start

HeliCraig
29th September 2008, 20:02
Dow Jones just closed down 590 points :eek

Is it just me.. or does (spread) betting on the markets seem like a reasonable idea to anyone at the moment?

Bagpuss
29th September 2008, 20:03
Transferred all me wonga there 7 months ago... finger on the pulse!

smug mode on :banana:

I just transfered mine out of Kaupthing to the NW. Had a look on Motley fool for their recommendations, B&B was the best (last week) apparently:laugh

DiscoStu
29th September 2008, 20:03
Oops, down 748...

scooterscot
29th September 2008, 20:03
Is it just me.. or does (spread) betting on the markets seem like a reasonable idea to anyone at the moment?

You'll never learn will you?!!!

Diestl
29th September 2008, 20:03
Try reading this thread Diestl :laugh:happy:rollin::wink

Mines is funnier, and we all need some cheering up in these difficult times.

DiscoStu
29th September 2008, 20:04
Is it just me.. or does (spread) betting on the markets seem like a reasonable idea to anyone at the moment?

It's just you. With the amount of volatility going on I'd be quite terrified of losing a lot of money very quickly...

HairyArsedBloke
29th September 2008, 20:05
Is it just me.. or does (spread) betting on the markets seem like a reasonable idea to anyone at the moment?

:rollin: :rollin: :rollin: :rollin: :rollin: :rollin: :rollin: :rollin:

HeliCraig
29th September 2008, 20:05
With the amount of volatility going on I'd be quite terrified of losing a lot of money very quickly...

Yeah, with "proper" spread betting that could happen quickly! I used to have an account with a firm called Binary Bet who do some kind of bastardised version thereof - but haven't been on it for years now....might have another look at some point and see if I can make it a plan B.

Bagpuss
29th September 2008, 20:08
What's the saying....when America sneezes Britian catches a cold...

x the % drops by 1.5 tomorrow on the FTSE

DiscoStu
29th September 2008, 20:09
What's the saying....when America sneezes Britian catches a cold...

x the % drops by 1.5 tomorrow on the FTSE

:spel bird flu

DiscoStu
29th September 2008, 20:13
The Asian markets open in a few hours. More doom to follow.....

HairyArsedBloke
29th September 2008, 20:16
Oops, down 748...

:spel 777

DiscoStu
29th September 2008, 20:17
:spel 777

I can't keep up, I've edited it five or six times!

HairyArsedBloke
29th September 2008, 20:22
Nearly 7% on the Dow. S&P off 8.75% and the NASDAQ 9.14% !

Still, I've seen worse.:laugh

Bloomberg are saying that the amount wiped off shares was about 50% larger than the size of the bail-out package. :rollin:

shoes
29th September 2008, 20:24
Nearly 7% on the Dow. S&P off 8.75% and the NASDAQ 9.14% !


It's ok, Gordon Brown is 'monitoring the situation very closely'.

:rollin:

PAH
29th September 2008, 20:33
Better order "Learn Chinese in 21 Days You Dummies" off Amazon quick sharp. Just enough time before Asia declares the west is their new gimp in the cellar.

I expect the yanks will try to fight their way out of it.

HeliCraig
29th September 2008, 20:34
Better order "Learn Chinese in 21 Days You Dummies" off Amazon quick sharp. Just enough time before Asia declares the west their new gimp in the cellar.

I expect the yanks will try to fight their way out of it.

Genius. Gimps in China's cellar - all of us!

BrilloPad
29th September 2008, 20:52
:suicide:

Oh dear.....

Bagpuss
29th September 2008, 21:08
George Bush sees the tax payer as a nice little bonus payer for his mates.

-see the Iraq 'rebuilding' contracts
-see the credit crunch bailout (or attempt to swindle the taxpayer once again)

HeliCraig
29th September 2008, 21:13
George Bush sees the tax payer as a nice little bonus payer for his mates.

-see the Iraq 'rebuilding' contracts
-see the credit crunch bailout (or attempt to swindle the taxpayer once again)

In fairness to Bush (my god, what am I saying? :suicide:), he did give the taxpayer a nice "bonus" to try and get the economy going. Anyone see Gordy with his hand in his pocket??

No no, instead we get free nursery places for 2 year olds. Brilliant.

DiscoStu
29th September 2008, 21:15
Anyone see Gordy with his hand in his pocket??

But he's monitoring the situation very closely :eyes

HeliCraig
29th September 2008, 21:30
But he's monitoring the situation very closely :eyes

Or just playing pocket billiards and shooting for the brown!

bored
29th September 2008, 23:04
With all the doom and gloom, maybe it's time to buy now?

TimberWolf
29th September 2008, 23:13
With all the doom and gloom, maybe it's time to buy now?

Someone must be buying, otherwise who are people selling to :confused:

HairyArsedBloke
30th September 2008, 20:04
Down nearly 800 points one day up nearly 500 the next.

Ya gotta laugh. :rollin:

oracleslave
30th September 2008, 20:05
Down nearly 800 points one day up nearly 500 the next.

Ya gotta laugh. :rollin:

Did you make any money?

HeliCraig
30th September 2008, 20:11
Down nearly 800 points one day up nearly 500 the next.

Ya gotta laugh. :rollin:

Yeah, very glad I didn't bet on more doom as I suggested yesterday evening. Madness (and not the musical variety!).

HairyArsedBloke
30th September 2008, 20:23
Did you make any money?

Not in the market at the moment – it’s a bit silly out there so I’m taking the opportunity to concentrate on the next phase of my business development.