Hi All,
Exactly..... As it happens, there is a criminal offence called "trading while insolvent" In other words, if you continue to trade [taking in peoples deposits for example, or engaging electricians to do work for you] when you know that your assets are insufficient to cover your liabilities, you commit an offence.
Now then...The banks never had any assets!!!!! You will see such and such bank crowing that they have assets of umpteen trillion pounds, No they do not!!!!! all they have is the value of all the mortgages they have issued. How is that assets???? that is debts..... The only assets they have are a load of computers and photocopiers, and even that is doubtful, as they are probably leased....
You and me would have been jailed and banned from being a company director for life by now... As ProDave says, the only losers would have been shareholders in the banks, and why should we care about them????
If instead of paying your mortgage you bet the money on a horse and lost it, why then, should you be compensated??
I was kind of hoping that the collapse of the banks would bring about a start to the re-nationisation of all the assets that were stolen from us and sold [electricity companies etc] but no hope of that, as it is the banking types that fund the present government.
ALL utility companies should be privatised, with profits going back to the renewal/repair/upkeep of the "systems" involved with any surplus going to the treasury. It should most certainly not be a case of let everything collapse, no maintenance at all, and all income sent off to foreign shareholders......
john...
Exactly..... As it happens, there is a criminal offence called "trading while insolvent" In other words, if you continue to trade [taking in peoples deposits for example, or engaging electricians to do work for you] when you know that your assets are insufficient to cover your liabilities, you commit an offence.
Now then...The banks never had any assets!!!!! You will see such and such bank crowing that they have assets of umpteen trillion pounds, No they do not!!!!! all they have is the value of all the mortgages they have issued. How is that assets???? that is debts..... The only assets they have are a load of computers and photocopiers, and even that is doubtful, as they are probably leased....
You and me would have been jailed and banned from being a company director for life by now... As ProDave says, the only losers would have been shareholders in the banks, and why should we care about them????
If instead of paying your mortgage you bet the money on a horse and lost it, why then, should you be compensated??
I was kind of hoping that the collapse of the banks would bring about a start to the re-nationisation of all the assets that were stolen from us and sold [electricity companies etc] but no hope of that, as it is the banking types that fund the present government.
ALL utility companies should be privatised, with profits going back to the renewal/repair/upkeep of the "systems" involved with any surplus going to the treasury. It should most certainly not be a case of let everything collapse, no maintenance at all, and all income sent off to foreign shareholders......
john...
