tag:blogger.com,1999:blog-4242439673360261416.post3251710363676704020..comments2023-10-28T01:08:17.601-07:00Comments on David Talks/The Berner Monologues: REGULATION? HOW MUCH?David Bernerhttp://www.blogger.com/profile/05707698404226464547noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-4242439673360261416.post-27361341095190524012009-02-24T07:13:00.000-08:002009-02-24T07:13:00.000-08:00The arrogance, greed 'n' UNaccountability of banke...<B>The arrogance, greed 'n' UNaccountability of bankers 'n' CEO is outrageous if not criminal!</B><BR/><BR/>This from Stephen Hume's piece (Vancouver Sun, Feb. 21, 2009)<BR/><BR/><I>Given all this economic gloom, my jaw dropped when I read reports that until the British government spiked the plan this week, executives from the Royal Bank of Scotland intended to grant themselves more than $1.5 billion Cdn in bonuses for their stellar performance in 2008.<BR/>This year's bonuses were okay, it seems, because they represented a 60-per-cent drop from bonuses paid in 2007. Wait a minute: In 2007 that bank lost more than $12 billion Cdn. It was teetering on the brink of insolvency when the public saved it with an injection of about $40 billion.<BR/>Pardon me, but this leads to an impolite question. Whatever happened to the idea that people should be accountable to the community for behaviour that affects the community?</I>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4242439673360261416.post-84373536184459658852009-02-23T14:32:00.000-08:002009-02-23T14:32:00.000-08:00I believe the reason Harper and Obama are against ...I believe the reason Harper and Obama are against tougher banking regulations is they won't be able to lend money at such ridiculously low rates.<BR/>It is time we went back to the old virtues of saving our money, and building wealth through capital appreciation, not speculation.<BR/>Keynesian economics fails to recognise the importance saving has for the betterment of our economy, and will lead us back to the inflation of the seventies and eighties.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4242439673360261416.post-54829174505622827262009-02-23T11:08:00.000-08:002009-02-23T11:08:00.000-08:00In 1997 when the US went into Japan to sort out th...In 1997 when the US went into Japan to sort out their economic crisis, the first thing they did was tell Japan to let banks fail, offer no bailouts and keep interest rates high. It looks like what's good for the goose is not acceptable to the Gander.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4242439673360261416.post-9881721290160044732009-02-23T10:29:00.000-08:002009-02-23T10:29:00.000-08:00To much regulation may expose US and Canadian poli...To much regulation may expose US and Canadian politico's drug dealer friends.<BR/><BR/>Just follow the money old chaps!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4242439673360261416.post-34731179636328472702009-02-23T09:45:00.000-08:002009-02-23T09:45:00.000-08:00David,I disagree with your lumping the US and Cana...David,<BR/><BR/>I disagree with your lumping the US and Canada together when it comes to financial regulation. Canada is leagues ahead of the US, and Europe, on regulation of the banking sector. It is the envy of the industrialized world right now.<BR/><BR/>On the contrary, if Harper can get his pending legislation creating one national securities regulator through parliament, we'll be in much better shape, and the little guy (i.e. small investors and taxpayers) will be better served and protected.Anonymousnoreply@blogger.com