≥ However, it also includes plans to repeal UK rules introduced in the wake of the 2007-8 financial crisis, including the senior managers’ regime, which holds bosses personally and financially responsible for problems that occur on their watch, and the ringfencing rules that are intended to protect everyday customers by separating their deposits from riskier investment banking operations.
I’m sure this will have no negative consequences at all
Let me summarise this:
**THEY gamble, YOU pay the losses.**
Dying actions of the Tory party, they know this will make their friends money, then ruin the economy, but they won’t be in charge to see it.
Let it never be said again that all politicians are lazy and short sighted.
They’ve barely finished mismanaging the current economic crisis and are already hard at work setting up the next one.
This is banana reublic stuff!
These ‘reforms’ are quite obviously against the interests of the public at large. They present a perfect opportunity for Labour to hammer a very distinctive nail into the tory coffin. Something they can (and should) ram home again and again and again.
“For sure, loose regulation caused the 2008 banking crash, but have we considered loosening regulation? Its what our donors are crying out for.”
So the plan is to remove personal liability and consequences, remove safe guards that protect normal people’s banking and money and to allow them to take massive risks…..
What could possibly go wrong ….
Apparently there have been discussions in the insurance industry about repealing areas of the IDD. the feedback has generally been to leave things as they are, it would take too much time and money to undo things and we need to also remain compliant in order to conduct business with EU customers. This whole cutting back red tape in the name of brexit is ridiculous.
Not like there could ever be a global financial crash or anything…
Might as well, everyone’s financial systems right now are horrendously over leveraged and there aren’t enough assets to leverage any more debt. A crash is coming, and if our banks can manoeuvre in the tight spaces to stay above water then unfortunately that is probably best. Controversial opinion I know, but any vestige of the worlds financial systems being restored to some respectable predictable order post 2008 slipped a long time ago.
Honestly I’m glad. The British public deserved for their money to be gambled and lost. It’s what they vote for all the time. I hope the Tories rinse the UK dry.
Headline is real clickbate, there is nothing “sweeping”..
The only one I have issue with is the raising funds before floating. They do this in the US and other countries and unless it is heavily regulated, normal people can lose money by being conned. It is basically, I have an idea, people give me money to start, never starts and I run off with the money.
I though “Talk like a pirate day” was back in September?
Look at the ton of anti-union comments on that article. Our natural enemy, the rich, are really investing in force on the bot farms aren’t they?
I genuinely think him and his wife are CCP agents planted to destroy our country.
Another banking crisis on the way. They take the profits, we pay the losses! Own this shit each and every tory, this is your fault!!
With 2 years left, and no hope of government for the following 15 or 20 at least, expect to see the most hardline policies of the tories being implemented in a massive, panicked bonanza for their donors.
The immediate future is not going to be much fun
This is absolute insanity. How isn’t this getting more traction? These laws are laying the groundwork for a (potential global) crash.
So before I read it I am going to guess;
Bankers get more money
Less tax paid
More risk to drive “growth” and crush inflation
Can someone start a petition again for his resignation? Surely we can’t let this pass,the country is in deep enough shit already.
Is this part of the reason for Brexit? I know there were many others (like avoiding incoming EU financial regulations) but can’t help but feel that this is part of what they wanted all along. I mean they’re even touting this as an example of a win for Brexit. Fuckers.
Steal what we can before they kick us out – should be the current government motto.
23 comments
≥ However, it also includes plans to repeal UK rules introduced in the wake of the 2007-8 financial crisis, including the senior managers’ regime, which holds bosses personally and financially responsible for problems that occur on their watch, and the ringfencing rules that are intended to protect everyday customers by separating their deposits from riskier investment banking operations.
I’m sure this will have no negative consequences at all
Let me summarise this:
**THEY gamble, YOU pay the losses.**
Dying actions of the Tory party, they know this will make their friends money, then ruin the economy, but they won’t be in charge to see it.
Let it never be said again that all politicians are lazy and short sighted.
They’ve barely finished mismanaging the current economic crisis and are already hard at work setting up the next one.
This is banana reublic stuff!
These ‘reforms’ are quite obviously against the interests of the public at large. They present a perfect opportunity for Labour to hammer a very distinctive nail into the tory coffin. Something they can (and should) ram home again and again and again.
“For sure, loose regulation caused the 2008 banking crash, but have we considered loosening regulation? Its what our donors are crying out for.”
So the plan is to remove personal liability and consequences, remove safe guards that protect normal people’s banking and money and to allow them to take massive risks…..
What could possibly go wrong ….
Apparently there have been discussions in the insurance industry about repealing areas of the IDD. the feedback has generally been to leave things as they are, it would take too much time and money to undo things and we need to also remain compliant in order to conduct business with EU customers. This whole cutting back red tape in the name of brexit is ridiculous.
Not like there could ever be a global financial crash or anything…
Might as well, everyone’s financial systems right now are horrendously over leveraged and there aren’t enough assets to leverage any more debt. A crash is coming, and if our banks can manoeuvre in the tight spaces to stay above water then unfortunately that is probably best. Controversial opinion I know, but any vestige of the worlds financial systems being restored to some respectable predictable order post 2008 slipped a long time ago.
Honestly I’m glad. The British public deserved for their money to be gambled and lost. It’s what they vote for all the time. I hope the Tories rinse the UK dry.
Headline is real clickbate, there is nothing “sweeping”..
The only one I have issue with is the raising funds before floating. They do this in the US and other countries and unless it is heavily regulated, normal people can lose money by being conned. It is basically, I have an idea, people give me money to start, never starts and I run off with the money.
I though “Talk like a pirate day” was back in September?
[https://www.reddit.com/r/Whatcouldgowrong/](https://www.reddit.com/r/Whatcouldgowrong/)
Look at the ton of anti-union comments on that article. Our natural enemy, the rich, are really investing in force on the bot farms aren’t they?
I genuinely think him and his wife are CCP agents planted to destroy our country.
Another banking crisis on the way. They take the profits, we pay the losses! Own this shit each and every tory, this is your fault!!
With 2 years left, and no hope of government for the following 15 or 20 at least, expect to see the most hardline policies of the tories being implemented in a massive, panicked bonanza for their donors.
The immediate future is not going to be much fun
This is absolute insanity. How isn’t this getting more traction? These laws are laying the groundwork for a (potential global) crash.
So before I read it I am going to guess;
Bankers get more money
Less tax paid
More risk to drive “growth” and crush inflation
Can someone start a petition again for his resignation? Surely we can’t let this pass,the country is in deep enough shit already.
Is this part of the reason for Brexit? I know there were many others (like avoiding incoming EU financial regulations) but can’t help but feel that this is part of what they wanted all along. I mean they’re even touting this as an example of a win for Brexit. Fuckers.
Steal what we can before they kick us out – should be the current government motto.