Storyville Inside Job

[David Johnson]

There's an Oscar-winning documentary analysing the 2008 banking collapse, on Beeb2 tonight at 9pm.

I suspect to the surprise of some who post on this forum, the documentary doesn't state for the entire 1 hour and 40 minutes,

"It's all Gordon Brown and New Labour's fault. What a mess they have left us all in".

Cheers
D

[Lizard]

It would if it was on ITV, but the BBC won't critise the Labour party.

[Jonone]

It can't have been very thoroughly researched can it. To any right minded person it's the obvious starting point !grin!

[number 6]

The bbc dont criticise the labour party? Not sure what planet you are on,the bbc is stuffed full of tories,John Humprheys,Andrew neal,nick robinson (bbc political editor and ex leader of the young conservatives,the chairman of the bbc is an ex TORY FRONT BENCHER!) ffs. Sort your facts out.

[Robches]

Right back at you Number 6. Andrew Neil is sceptical of all politicians, he is no Conservative stooge. John Humphreys is a cantankerous old Welshman, he has never struck me as being remotely pro-Conservative. Nick Robinson was a Young Conservative when he was at university, it hardly makes him a card carrying Conservative now does it? As to Lord Patten, he is a dripping wet left wing Conservative. If Green Dave had made Lord Tebbit chairman of the BBC you might have had a point, but he didn't, and you don't.

[jimslip]

David Johnson wrote:

> There's an Oscar-winning documentary analysing the 2008 banking
> collapse, on Beeb2 tonight at 9pm.
>
> I suspect to the surprise of some who post on this forum, the
> documentary doesn't state for the entire 1 hour and 40 minutes,
>
>
> "It's all Gordon Brown and New Labour's fault. What a mess
> they have left us all in".
>
> Cheers
> D

Actually the original concept of allowing the banks to run amok totally untethered, could have worked. Put simply, if people can borrow whatever they want, they do that in order to spend on goods and services.

So, for example, if you buy investment property with borrowed money, you need builders, plumbers etc to put it right, they then spend the money you've given them and others then benefit. This monetary merry-go-round in theory could create a permanent boom for everyone. The furnaces feeding the boom being the banks.

Technically, if the banks had been just a little more careful to whom they lent money to, we could still be in a boom position. However for the plan to work, the banking system MUST have a solid foundation, after all, money is just bits of paper, its only our belief that it is worth something that stops the whole thing going pear shaped.

I think this was the basis of the master plan. Unfortunately, you cannot let the sub-primers join the party, that's what fucked it up.If only those that could afford to pay back the loans had borrowed, we'd all be much richer in assets and also owe a fortune. But I would guess our assets would be worth more than our loans by now, because the hyper-spending would drive up the value of stuff.

It was an experiment that with a little bit of legislation could have worked out! i think the greedy Yanks fucked it up and we underwrote their fuck-ups!!cigar!

[David Johnson]

Brilliant documentary which highlighted that it didnt matter whether it was Clinton, Bush or Obama in power, it was the finance sector that ruled.

Obviously a similar situation to here. Brilliant though depressing in that nothing seems to have changed.

Cheers
D

[Jonone]

They don't want regulation but they'll accept bailouts ! Win/win .... for them.