tag:blogger.com,1999:blog-32841798.post2501676199583407689..comments2024-03-28T09:55:42.123+00:00Comments on Capitalists@Work: Bank DowngradesCityUnslickerhttp://www.blogger.com/profile/15929544047783163175noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-32841798.post-80526115980321987432012-06-23T12:37:42.169+01:002012-06-23T12:37:42.169+01:00Anon 6:20pm said: "If these ratings agencies ...Anon 6:20pm said: "If these ratings agencies had downgraded the banks and mortgages years ago they could have halted the boom ...".<br /><br />No, the 'boom' (such as it was) was caused by Gordon Brown increasing the money supply more than growth through the 2000s.Budgienoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-65383988042058188112012-06-22T23:17:11.792+01:002012-06-22T23:17:11.792+01:00c) 18 months passes but next time around spotty fa...c) 18 months passes but next time around spotty faced bankers will have proper 'O' Levels and not GCSEs<br /><br />We shall be saved.Electro-Kevinhttps://www.blogger.com/profile/18073103431166273080noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-53121506739719140152012-06-22T21:57:48.183+01:002012-06-22T21:57:48.183+01:00Anon - I like Baring in mind ! very good
anyhow
...<b>Anon</b> - I like <i>Baring in mind</i> ! very good<br /><br />anyhow<br /><br /><i>separate 'casino' banking from the bread-and-butter business where the risks can be understood</i><br /><br />we agree with that around these parts (tho easier said than done)<br /><br />also rebuilding capital reserves<br /><br />but <i>So the fraudulent triple A ratings meant nothing then, but now all of a sudden what the ratings agencies say is vitally important!</i> - is just silly<br /><br />they don't mean as much as they ought to mean; but a downgrade is still a downgrade and, as we know (& lament) they are the only game in town<br /><br />if you are paying attention the cycle is:<br /><br />(a) there is an incident like Enron<br /><br />(b) rating agencies rush around, all <i>mea culpa</i>, promise to do better next time, big increase in analytic rigour + transparency for, oooh, 18 months ?<br /><br />(c) 18 months passes<br /><br />(d) memories short, bonuses to be made, everyone slides back into the bad old waysNick Drewhttps://www.blogger.com/profile/13670594203660051701noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-12098889346908653912012-06-22T19:34:00.467+01:002012-06-22T19:34:00.467+01:00we need immediate action to separate 'casino&...we need immediate action to separate 'casino' banking from the bread-and-butter business where the risks can be understood. <br /><br />If punters want to risk the farm on exotic bets, then good luck to them, but don't expect any bailouts.<br /><br />Many 100s of banksters also need to do jail time for ignoring\silencing risk managers and choosing to indulge in mickey-mouse "investing" in CDOs etc.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-6303869888726981662012-06-22T18:20:46.747+01:002012-06-22T18:20:46.747+01:00Nick Drew a few days ago:
"yes, Anon the rati...Nick Drew a few days ago:<br />"yes, Anon the ratings agencies are deeply implicated<br /><br />but after Enron (at the very latest), no-one in the banking sector believed them !"<br /><br />So the fraudulent triple A ratings meant nothing then, but now all of a sudden what the ratings agencies say is vitally important!<br /><br />If these ratings agencies had downgraded the banks and mortgages years ago they could have halted the boom and so prevented the bust.<br />If they are only here to shut the door after the horse has bolted then what use are they?<br /><br />Baring in mind that you put a higher price on something you increase its supply.<br />Do we need to rebuild our capital, reserves, or not?<br />We should welcome a higher price.<br />Interest rates should be about 10%+!<br /><br />Yes that will cause some problems, maybe a lot of problems, but they can't be avoided anyway.<br />We are not going to bounce back, especially when our European markets have just the same problems or worse.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-15811705378724119002012-06-22T16:52:48.925+01:002012-06-22T16:52:48.925+01:00thanks for sharing with uTruck Chrome stacksthanks for sharing with u<a href="http://www.glenroyexhaust.com.au/" rel="nofollow">Truck Chrome stacks</a>srihttps://www.blogger.com/profile/07391339805776274587noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-1549232005807984142012-06-22T15:23:46.543+01:002012-06-22T15:23:46.543+01:00then the cost of its borrowing will rise ... in ad...<i>then the cost of its borrowing will rise ... in addition ... etc</i><br /><br />also, cost of capital goes up, automatically reducing VaR limits etc etc - so impacting negatively on volume of trade<br /><br />there's no end to the downside<br /><br />(which, for anyone in doubt, is the reason the UK plc AAA must be defended to the death)Nick Drewhttps://www.blogger.com/profile/13670594203660051701noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-1232922836921378532012-06-22T14:41:06.804+01:002012-06-22T14:41:06.804+01:00Football irony strikes again.
Germany vs Greece t...Football irony strikes again.<br /><br />Germany vs Greece tonight.<br />If Greece win Germany still goes through but they have to change the terms of the bailout.Bill Quango MPhttps://www.blogger.com/profile/14861116614665461655noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-11069350435372606042012-06-22T14:05:17.816+01:002012-06-22T14:05:17.816+01:00This comment has been removed by a blog administrator.srihttps://www.blogger.com/profile/07391339805776274587noreply@blogger.com