Travis
Established Member
I have heard all this talk of money or the shortage thereof.
I am ready to do my part.
Just tell me when enough is enough.
Travis
I am ready to do my part.
Just tell me when enough is enough.
Travis
Rich":3966c9em said:I must say, that is a splendid dissertation by Stevieb, the way he put it in laymans terms make it easy for ME to understand, thanks for that steve, and no offence taken anyway mate, I don't think you are the type to offend.
Losos":3ur87asx said:Thought i would just pop back and would especially like our American cousins to respond to this:-
Dick FULD the ex CEO of Lehman Brothers has been hauled up before a finance committee to explain how he allowed his firm to go bust. The chairman of the committee put up a slide which showed that since the year 2000 he has pocketed .......................wait for it....................................
almost half a billion dollars the American billion of course :!:
yes, that's no typo, not million but billion :shock:
I believe the exact figure was 480 million but whose worried about the odd 120 million :lol:
That is more than some very small third world countries and certainly more than anyone on here would likely earn in a lifetime
Dan Tovey":dsjvb6zn said:Interesting piece in today's Independant by Andreas Whittam-Smith.
http://www.independent.co.uk/opinion/co ... 52488.html
Basically makes the very good point that our current financial woes are the fault of the directors of the major banks and that they should all go to jail.
There's not much I can add.
Dan
Rich":fatbhtab said:As a matter of interest, what papers do the forum members read?
RogerS":1nxayckh said:ByronBlack":1nxayckh said:I'm making that judgement based on the massive screw-up that over-borrowing has lead us to, and it's a greed society that feeds that borrowing/lending
I have borrowed, and I say that in my post, but by the end of the year I would have got rid of any outstanding debt, barr the mortgage, but then I was sensible when I got my mortgage and saved for the best part of 5 years to afford a decent enough deposit so that I wouldn't be in the poop if rates went up.
The problem we have with unnessacary borrowing is the 'want it now' attitude, if we all just had a little patience, or some enterprise we could afford the things we wanted without having to laden ourselves with unnecessary debt.
A frugal/sensible lifestyle that isn't driven by status or greed, in my humble opinion is the way to avoid massive financial melt-downs like we are seeing.
Roy - really no need for that comment just because you don't agree.
So what is the difference between borrowing the money to buy a house and borrowing the money to buy a car? There isn't any.
Roy - really no need for that comment just because you don't agree.
Digit":1ggnky93 said:Roy - really no need for that comment just because you don't agree.
What am I supposed to have done this time?
Roy.
RogerS":6x7jh039 said:Losos":6x7jh039 said:Thought i would just pop back and would especially like our American cousins to respond to this:-
Dick FULD the ex CEO of Lehman Brothers has been hauled up before a finance committee to explain how he allowed his firm to go bust. The chairman of the committee put up a slide which showed that since the year 2000 he has pocketed .......................wait for it....................................
almost half a billion dollars the American billion of course :!:
yes, that's no typo, not million but billion :shock:
I believe the exact figure was 480 million but whose worried about the odd 120 million :lol:
That is more than some very small third world countries and certainly more than anyone on here would likely earn in a lifetime
No it wasn't that much. Not even close. A lot of money..yes...was it excessive...most likely but suggest maybe a lot of us could stop reading the Daily Mail?
Grinding One":2y4r6fk3 said:RogerS":2y4r6fk3 said:Losos":2y4r6fk3 said:Thought i would just pop back and would especially like our American cousins to respond to this:-
Dick FULD the ex CEO of Lehman Brothers has been hauled up before a finance committee to explain how he allowed his firm to go bust. The chairman of the committee put up a slide which showed that since the year 2000 he has pocketed .......................wait for it....................................
almost half a billion dollars the American billion of course :!:
yes, that's no typo, not million but billion :shock:
I believe the exact figure was 480 million but whose worried about the odd 120 million :lol:
That is more than some very small third world countries and certainly more than anyone on here would likely earn in a lifetime
No it wasn't that much. Not even close. A lot of money..yes...was it excessive...most likely but suggest maybe a lot of us could stop reading the Daily Mail?
This poor guy says he got no pension from his bussiness or parashute...but he does have a few houses in Florida and New York worth millions...Poor Guy.I got a cell he can live in...Oh Poop I`d have to feed him and house him :roll: lets just sell his houses an pay some of the debt back.
ByronBlack":35qatajg said:RogerS":35qatajg said:ByronBlack":35qatajg said:I'm making that judgement based on the massive screw-up that over-borrowing has lead us to, and it's a greed society that feeds that borrowing/lending
I have borrowed, and I say that in my post, but by the end of the year I would have got rid of any outstanding debt, barr the mortgage, but then I was sensible when I got my mortgage and saved for the best part of 5 years to afford a decent enough deposit so that I wouldn't be in the poop if rates went up.
The problem we have with unnessacary borrowing is the 'want it now' attitude, if we all just had a little patience, or some enterprise we could afford the things we wanted without having to laden ourselves with unnecessary debt.
A frugal/sensible lifestyle that isn't driven by status or greed, in my humble opinion is the way to avoid massive financial melt-downs like we are seeing.
Roy - really no need for that comment just because you don't agree.
So what is the difference between borrowing the money to buy a house and borrowing the money to buy a car? There isn't any.
There isn't any difference in itself, but where it goes wrong is when people start to borrow for the sake of it and run up massive debts which they are unable to payback due to negligence on the lenders part, or through ill-fortune by losing a job, going bankrupt etc.. if we as a society can reduce our reliance on running up massive debts for consumer items (and a house doesn't come under this category) the better we'll all be.
I can understand where you are coming from, and I'm not preaching a backwards cave-like existence, but there has to be some restraint when it comes to borrowing and lending consumer debt for the lastest gadget/car/lifestyle accessory.
Also, the less borrowing for said items will result in people have more money coming in which can be used to afford a bigger deposit on a mortgage (if they wish to buy a house) and be more secure against interest rates.
Digit":1mb8radg said:Wrong end of stick I'm afraid BB, I was saying that common sense should have been applied by those who seemed to think that they could borrow, borrow, borrow and keep on borrowing.
No offence was intended against anyone!
Roy.
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