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[Mysteryman]

July 13 (Bloomberg) -- Royal Bank of Scotland Group Plc Chief Executive Officer Stephen Hester said that blame for the global financial crisis was shared by consumers, investors and governments as well as banks.

Banks mirror the economies they serve and so changing the way they operate would not be enough to prevent a repeat of the financial crisis.

“Everywhere it suited consumers to be able to consume more, to see housing values increase, to enjoy higher public spending based on buoyant tax revenues,” Hester told a conference organized by the British Bankers’ Association. “It suited countries to be able to run big trade deficits and it suited investors to see rising asset values. No one, it seems, wanted to take the punchbowl away. Reforming the banks is necessary but not enough.”






So.......it was our fault. I'm glad he explained that. I must be more careful in future.

[Mr Skrunts]

Heard on the news as I was going to bed that they are putting plans into into place to cap banker's bonusesm wonder how long they will take to implement that. :-/

[Mysteryman]

Heard on the news as I was going to bed that they are putting plans into into place to cap banker's bonusesm wonder how long they will take to implement that. :-/

Banks will merely increase basic pay, no regulation proposed there.

[Varche]

Heard on the news as I was going to bed that they are putting plans into into place to cap banker's bonusesm wonder how long they will take to implement that. :-/

It will never happen. The pay structure will just be subletly changed to satisfy casual observers. The banks will soon devise new ways to gamble on the future and thus make their masters and themselves a packet. I am afraid it is a racing certainty that there will be another collapse and once again the little man( i.e. most of us) will cop it yet again.

[Field Marshal Dr. Opti]

July 13 (Bloomberg) -- Royal Bank of Scotland Group Plc Chief Executive Officer Stephen Hester said that blame for the global financial crisis was shared by consumers, investors and governments as well as banks.

Banks mirror the economies they serve and so changing the way they operate would not be enough to prevent a repeat of the financial crisis.

“Everywhere it suited consumers to be able to consume more, to see housing values increase, to enjoy higher public spending based on buoyant tax revenues,” Hester told a conference organized by the British Bankers’ Association. “It suited countries to be able to run big trade deficits and it suited investors to see rising asset values. No one, it seems, wanted to take the punchbowl away. Reforming the banks is necessary but not enough.”






So.......it was our fault. I'm glad he explained that. I must be more careful in future.

Hang him.....Banks ......bankers.....

[Pitchfork]

Surely it's the fault of all those who borrowed beyond their means of paying back?

[Entwood]

Surely it's the fault of all those who borrowed beyond their means of paying back?

You can't say that .. it is always mandatory to pass the blame to someone else ...  never ever accept that you might have made a poor decision based on greed because you did not consider the consequences.

It is even more important to blame someone you have never met or had dealings with, especially if it can be proved that they earn more than you.

Never take responsibility for your own actions.

   

[MikeDundee]

July 13 (Bloomberg) -- Royal Bank of Scotland Group Plc Chief Executive Officer Stephen Hester said that blame for the global financial crisis was shared by consumers, investors and governments as well as banks.

Banks mirror the economies they serve and so changing the way they operate would not be enough to prevent a repeat of the financial crisis.

“Everywhere it suited consumers to be able to consume more, to see housing values increase, to enjoy higher public spending based on buoyant tax revenues,” Hester told a conference organized by the British Bankers’ Association. “It suited countries to be able to run big trade deficits and it suited investors to see rising asset values. No one, it seems, wanted to take the punchbowl away. Reforming the banks is necessary but not enough.”






So.......it was our fault. I'm glad he explained that. I must be more careful in future.

[/highlight]

Your obviously having a laugh

[feeutfo]

Surely it's the fault of all those who borrowed beyond their means of paying back?

You can't say that .. it is always mandatory to pass the blame to someone else ...  never ever accept that you might have made a poor decision based on greed because you did not consider the consequences.

It is even more important to blame someone you have never met or had dealings with, especially if it can be proved that they earn more than you.

Never take responsibility for your own actions.

   

Straight from the book of managment that. Always say yes, but never say when. Do as i say not as i do. Always pass accountability down. I universaly blame management generally. B.S. baffles all it seems. To the point we are at now and passing the hot potatoe down hill to the little guy as usual. Thats all nornal then.

[Nickbat]

So much is made of bankers, but what about these civil servants? Are they really worth their salaries & perks - which we, as taxpayers, cough up for?

http://rantinrab.blogspot.com/2010/07/weve-been-quangoed.html