Posted by michael on April 1, 2009
A disappointing G20 for the PM so far.
France and Germany have called for tougher regulation for the world’s financial system at the G20 summit. Which is absolutely necessary to do BUT it highlights the failure of Brown to regulate the UK’s financial system over the whole time he was the chancellor and the prime minister.
Brown won’t accept any failings but the rest of the world are saying that he was to blame!
Posted in benefits, Blogroll, Conservatives, credit crunch, debt, economy, labour, Lib Dems, recession, tax, UK Economy | Tagged: abuse, banker, bankers, borrowing, brown, conservative, credit crunch, debt, economy, government, labour, recession, repossession, tax, tax increases, UK Economy | Leave a Comment »
Posted by michael on March 31, 2009
I think that I may have spotted a pattern here.
Gordon Brown takes over the ‘golden inheritance’ from the last Conservative government. Everything goes well until he spends all the money but by that time he is PM so it is not really his fault!
Also during that period Brown had no clue at all that many of the financial institutions were busy destroying themselves for the benefit of the directors and that this would cause the UK could go into recession. But when he finds out he rushes around the place thinking of policies that could help and implementing some of them!
Also during that period Brown had no clue at all that many of the MPs were abusing the expenses system. But when he found out he immediately orders an inquiry to find out the best way to pay the MPS for being MPs.
It is beginning to look like Brown is only capable of reacting to situations once they appear in the newspapers!
But I don’t know why he has not reacted to the energy companies not reducing the price of the energy that they supply despite the wholesale costs dropping significantly! Maybe it is because it does not effect him directly!
Posted in Blogroll, Conservatives, credit crunch, debt, economy, financial, labour, UK Economy | Tagged: bank, banker, bankers, banks, borrowing, brown, conservative, credit crunch, debt, economy, government, greedy, recession, repossession, UK Economy | 1 Comment »
Posted by michael on March 25, 2009
Wow!! Things are really getting serious now!
Gordon Brown goes off the the good old USA and talks about a global cash stimulus to get the world out of recession.
At the same time the Bank of England Governor comes out into the public domain and warns Brown that borrowing more money would be a disaster for the UK.
The response of New Labour?? Blame the Conservatives for not having any policies for getting us out of recession!
I can fully understand that the Conservatives need to announce viable policies to save the UK from bankruptcy; not so that they can implement them but so that New Labour will have some idea of what to do next!
So according to the Governor of the Bank of England, Gordon Brown needs some new ideas to save the UK. Unless of course Brown is prepared to saddle the UK with huge debt levels for a generation.
Posted in Blogroll, Conservatives, credit crunch, debt, economy, financial, labour, Lib Dems, recession, tax, UK Economy | Tagged: abuse, bank, banker, bankers, borrowing, brown, conservative, credit crunch, debt, economy, government, greedy, labour, recession, repossession, UK Economy | Leave a Comment »
Posted by michael on March 8, 2009
The International Monetary Fund (IMF) has predicted that the UK will have the worst fall in economic growth among advanced nations this year.
Yes the Credit Crunch is global, but Gordon Brown has been in power for the last 10 years as chancellor and prime minister.
The government is responsible for regulating the Financial Industry. Brown selected a ‘light touch‘ regulatory policy.
The result was that Brown, as he admits, ‘did not see the recession coming’.
Also our taxation and debt levels are so high (a lot of the debt is hidden from us) that we are not well placed to withstand the financial storm.
Brown is responsible. Brown HAS FAILED to protect the UK economy.
He gets cross and won’t talk about responsibility because he knows that he has failed as chancellor and PM.
How can we trust him to sort out the problems that he is responsible for.
Posted in Blogroll, Conservatives, credit crunch, debt, economy, financial, labour, Lib Dems, recession, UK Economy | Tagged: abuse, banker, bankers, borrowing, brown, conservative, credit crunch, debt, economy, government, labour, recession, repossession, UK Economy | Leave a Comment »
Posted by michael on March 8, 2009
The banks are currently making commercial decisions on who can be loaned money.
It is not the amount of money that the banks have that is currently dictating their lending but the credit worthiness of their customers, both private and commercial. People who are are not seen by the banks as a risk can get money from the banks.
So is Lloyds now expected to lend money to people they consider to be more of a risk?
If so, who pays when and if these people default?
Posted in Blogroll, Conservatives, credit crunch, debt, economy, labour, Lib Dems, recession, UK Economy | Tagged: abuse, bank, banker, bankers, banking, banks, borrowing, brown, conservative, credit crunch, debt, economy, labour, recession, repossession, UK Economy | Leave a Comment »
Posted by michael on March 5, 2009
The latest attempt to fix the recession, the quantitative easing policy, means that £75 billion of new money has been created and given to the banks.
My first thought is that most people who have created money to ‘help the economy’ have ended up in jail for forgery!
The second thought is why has it been given to the banks? If they won’t lend to anyone who needs to borrow money, then what will change now the banks have more money.
Surely they are not going to lend our money to dodgy risks and use their own money for the secure loans?
Since a significant proportion of the UK population won’t qualify for these loans, I would have thought that a better process was to ignore the banks and use the money to significantly reduce taxes or to increase benefits for those less well off. (the one thing that you can be sure of with money given to the less well off is that it is going to be spent and not saved).
It also seems that introducing ‘quantitative easing’ is an admission that everything else has failed. That would seem to mean that the huge debts that have accrued up to now, and which will need many years of additional taxation to pay off, have all been for nothing!
Posted in Blogroll, Conservatives, credit crunch, debt, economy, labour, Lib Dems, recession, UK Economy | Tagged: abuse, bank, banker, bankers, banking, banks, bills, borrowing, brown, conservative, credit crunch, debt, economy, government, recession, repossession, UK Economy | Leave a Comment »
Posted by michael on March 5, 2009
How can Gordon Brown be expected to ‘seize the moment’ when he has proved that he was incapable of ’seizing the ten years’ whilst New Labour were running the UK economy into the ground!
Posted in Blogroll, Conservatives, credit crunch, debt, economy, labour, Lib Dems, recession, UK Economy | Tagged: bank, banker, bankers, banking, borrowing, brown, conservative, credit, credit crunch, debt, economy, government, labour, recession, repossession, UK Economy | Leave a Comment »
Posted by michael on February 27, 2009
Gordon Brown has repeated his threat of legal action against ex-RBS boss Sir Fred Goodwin over his “unacceptable” £16m pension package.
The PM said he shared public “anger” at the size of the pension and was “considering every legal means at our disposal” to get some of it back.
Sir Fred has rejected pleas to return it, claiming ministers approved it.
In a way this anger is artificial, because ministers knew about the pension package before Goodwin resigned. Those who knew may have kept it quiet, but the government did know and could have stopped it before Goodwin had resigned!!
It would seem to me that there are two options available.
1) Goodwin could be pursuaded to give up this excessive pension in return for a more reasonable package which reflects the losses the bank has incurred
2) Brown brings in a law, similar to the windfall tax for companies, which is aimed at Goodwin and takes the pension fund away from him.
But I doubt that option 1 would happen, and I doubt that Brown would succeed with option 2.
It will probably end up as another example of the inability of this Labour government to get things right in the first place!
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Posted by michael on February 26, 2009
The government should pass the necessary legislation to remove this pension from this individual, and also to anyone else who received similar benefits at that time.
Yes the shareholders voted for it but they thought that it was a reward for providing huge profits for everyone.
They thought that the deal was profitable to everyone!
That fact is that it was a really bad business decision that has almost destroyed RBS and damaged the economy of the UK.
This government has passed laws before to take excessive profits from companies. They should do the same to this individual to get the £50 million back to repay the taxpayer.
Having said that the government should act to claw back this pension, it looks like they agreed to it in the first place when sir fred goodwin left RBS!!!!
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Posted by michael on February 22, 2009
I have just heard a radio interview where a Labour minister was defending Gordon Brown by saying that Brown had been calling for years for global financial controls and global actions to prevent the sort of financial crash that we have had.
It was an interesting defence of Gordon Brown. If Brown had been actively campaigning for these controls over a number of years, then why did he not take steps years ago to prevent the crash we have had in the UK???
Or, as I suspect, he did not have a clue about the risks to the UK economy and is desperately trying to save his political skin now. We know that he has said that he didn’t see the recession coming.
Posted in Blogroll, Conservatives, credit crunch, debt, economy, financial, labour, Lib Dems, recession, UK Economy | Tagged: abuse, banker, bankers, banking, banks, borrowing, brown, conservative, cost of living, credit crunch, debt, economy, government, household, labour, recession, tax increases, UK Economy | Leave a Comment »
