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On Tue, Sep 27, 2011 at 09:05:00AM +0100, tom wrote: > While politicians are partly to blame it was the financial > institutions that lobbied for deregulation and presumably told them > it would all be OK. And who could they turn to for advice... the > players! Its like going to the Tea Party for advice on science > education! If our leaders are that stupid they deserve the opprobrium they get. Or do we get the leaders we deserve. Hmm. Either way I think suicides in Greece are up and that is hardly cheering > > And these same 'advisors' (who effectively own papers like the > times) are still pushing the same flawed agenda only now it seems to > be a case of 'not on my watch' for the big depression that has to > come now the ponzi scheme is (seen to be) bust. They will make a lot > of money out of the taxpayer before it goes down but when you > consider how big greece's debt is for 3% of european economic > activity and look at how much the average taxpayer in this country > earns its a wonder we're not all deaf from overconfident whistling > from the city. I think there is too much panic around and traditionally that has been the time to buy, selectively. Are the risks high: undoubtedly. Yes Ponzi is breaking, deleveraging is going to take time and be painful. I just hope the re-regulation is going to be well planned. (Well I can hope anyway). (Was amused to see EEC proposals on the auditors) -- Henry Photocopies or faxes of my signature are not binding. This email has been signed with an electronic signature in accordance with subsection 7(3) of the Electronic Communications Act 2000. Digital Key Signature: GPG RSA 0xFB447AA1 or 0x3184D537 Smime Fingerprint 98:24:AE:F7:D1:D6:E5:A0:F0:55:2F:40:42:5F:46:24:F9:52:f4:30 Tue Sep 27 09:37:39 BST 2011
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