Hibernian Financial Terrorism

[Louis VI the Fat]

Corporates that are profligate, uncompetitive and go bust hurt some investors, but hardly ever the eejits in charge that make the mistakes. The old saw that shareholders should hold boards to account is nonsense, since they never do - most corporate shareholders are investment banks or pensions, and just as corrupt as their buddies who happen to be on a board or five.

Business risk ought to be assessed just as in a small business environment - will I work hard enough to ensure I don't lose my home and family? Is my decision sound enough that my children will eat later this month?

To take a current example, if the boards of banks had faced the guarantee that their gambling insanity would have put them on a park bench, bankrupt and penniless - as it has done to many blameless small businesses - would we have seen the "risk" taking of recent years - or the wise, considered loans for real assets and business investment that used to be the norm when bankers were boring members of the community?

That's socialism!!1!

Protection from the consequences of risk encourages bad business and huge business that can monopolise markets

That's communism!!1!

However, I fear I digress from the topic at hand.

It was all in reply to Seamus, but as far as I'm concerned, it goes right to the essence of this thread.



Once, I was clean-cut, centre-right, free market. Then all hell broke lose.

Suddenly, I am considered a socialist. When to me, I haven't changed, the rest of the world has simply gone mad. All I want is for the return of 'risk' in business, of accountability. An end to the use of public means to support private interests. No more 'private profit, socialised risk'. And all that.

If you turn the private debt of a country into a public debt, then end up having to use your pensioners' money to guarantee this debt, then you ought to be flogged to death. Seeing as how they have managed to catch us all off guard, as far as I'm concerned we'll skip the flogging and hanging, and instead we pay to get it over and done with. But only once, and on the condition we reassert authority: regulation, control, accountability, risk, and functioning markets. Or else it's all just an exersize in daylight robbery.

[gaelic cowboy]

Your too late Louis there making you dependent on us paying back a large debt.

This is a confidence trick pure and simple

1 Encourage borrowing in outlying regions from the core so that both are now co-dependent.

2 The core must be convinced that cancelling any of the bondholder debt that they actually own is immoral.

3 Outlying regions decrease in economic output thereby increasing there inability to pay.

4 Set outliers and core at each other while the masters of the universe win again.

5 I havent figured 5 out yet because a black helicopter is landing outside and is breaking my train of thought.

[HoreTore]

Your too late Louis there making you dependent on us paying back a large debt.

This is a confidence trick pure and simple

1 Encourage borrowing in outlying regions from the core so that both are now co-dependent.

2 The core must be convinced that cancelling any of the bondholder debt that they actually own is immoral.

3 Outlying regions decrease in economic output thereby increasing there inability to pay.

4 Set outliers and core at each other while the masters of the universe win again.

5 I havent figured 5 out yet because a black helicopter is landing outside and is breaking my train of thought.

So..... Step 5 is "?"? Then I know what step 6 is!!



But what about the underpants?