• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Whose fault was it?

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Whose fault was it?

    Our current economic woes. Who is to blame?

    Multiple choice poll.
    39
    Mervyn 'index linked mega pension' King
    0.00%
    0
    New Labour
    56.41%
    22
    Bwankers
    15.38%
    6
    Just seeing globalisation rebalancing
    12.82%
    5
    Other: Global downturn, normal boom and bust cycle etc
    10.26%
    4
    AndyW
    5.13%
    2

    #2
    Darn, forgot to make it multiple choice.

    Comment


      #3
      Originally posted by TimberWolf View Post
      Darn, forgot to make it multiple choice.
      I prefer it like this - all the above are responsible but one is forced to make a number one choice.

      There are some others missed though - like Bill Clinton. He allowed retail and investment banks to be combined and forced banks to lend to people who could not afford it.

      Comment


        #4
        You forgot "Europe" as an option - everything is their fault, I read it in the Daily Mail.
        Best Forum Advisor 2014
        Work in the public sector? You can read my FAQ here
        Click here to get 15% off your first year's IPSE membership

        Comment


          #5
          I hate to tar all who work in a bank as bad - sessh it pays my bills. But the few powerful investment bwankers that lobbied hard to gamble all and the "in-pocket" arseholes that allowed it to happen with the market knows best logic really allowed this fk up to happen.

          Saying that - look at the raft of new legisliation coming into force now, which again will pay my bills. So boom and boom (- the 10% cut)
          Anti-bedwetting advice

          Comment


            #6
            Gordon Brown relaxed bank regulation. Americans felt they had to follow suit and we ended up with sub-prime.
            ...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...

            Comment


              #7
              I voted for New Labour but more specifically I think the single individual most to blame was Gordon Brown. He was the person with the most power to steer us away from the crisis and instead steered us straight into it. He should have known better.

              That doesn't absolve bankers and economists who both have to take a lot of blame too. In the case of bankers they are mainly guilty of simply operating to the incentives that the situation landed them with. Economists were guilty of group-think, but that means it's hard to single out individuals to blame.

              Others not on your list:

              The Media - for ramping an "economic boom", house prices only ever go up, etc.
              The Chinese, for encouraging global imbalances leading to artificially cheap money.
              Keynes, for failing to sort out a sensible system for international trade.
              Greenspan, for changing his mind and deciding everything was fine.

              But most importantly: all of us, for not demanding better of the individuals and groups listed above.
              "A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester Freamon

              Comment


                #8
                Originally posted by Freamon View Post
                I voted for New Labour
                So ultimately isn't it all yours and the others who voted NL fault?
                How fortunate for governments that the people they administer don't think

                Comment


                  #9
                  Just a normal boom and bust cycle .....

                  Now as for new labour, I hate them and their voters with a passion at how they have chavvitised the country and ruined it beyond compare ...

                  However I was impressed with how the financial crisis was handled under brown. Decisions were made quickly, important bailouts, rates dropped, etc.

                  The only thing labour and the lib-con's are missing is axing the 50p rate. The UK exports are developed beyond manufacturing, now we export knowledge and design, so that must be encouraged through low taxation at all costs instead of being stifled ....

                  Comment


                    #10
                    Originally posted by Troll View Post
                    So ultimately isn't it all yours and the others who voted NL fault?
                    To clarify, I voted for them in the poll above, not in any general elections.
                    "A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester Freamon

                    Comment

                    Working...
                    X