The Real Culprits?

In NL they normally give 105% mortgages, I wonder why it works there? Perhaps they give a lower multiple of salary?

I can't agree with "Let's all demonise anyone on 'welfare'" because I don't think that's what we do, certainly not on GN. I think people are intelligent enough to know the difference between 'scroungers' and people who need help. Both exist and it is far too simplistic to think otherwise.

All governments use all sorts of slogans which most of us see through but I don't think this government has compared bankers to those on benefit (happy to be shown I'm wrong) and I don't understand why it keeps coming up here. We don't compare those on benefit to the defence budget and we don't compare bankers to aid to other countries. Just a couple of examples of how our money is spent. Why therefore do we keep comparing bankers and benefits?

No-One ever seems to mention Gorden Brown and his part

still

What's it got to do with benefits?

Well, the strategy of Osbourne, Cameron Et al is pretty clear. They cannot use the usual Tory election slogan of the economy being safe with them so instead we have the divide and rule of the disgraceful 'strivers and skivers'. A clever alliterative slogan which if repeated enough begins to take hold of the popular consciousness. Let's all demonise anyone on 'welfare' and divert attention from all those who made mighty fortunes and hid it overseas or indulged in other dubious money secreting activities.

It's going to take a very skilful opposition to turn that rhetoric around.

Movedalot I think the point of the OP is that it is this reckless behaviour by the rich fat cats that has caused us the real financial hardship.
Not paying welfare benefits for the poorer in society .

Excellent points Eloethan. And Nelliemoser. I think it's instructive ask why the banks in Australia and Canada remained responsible.

They were and are tightly regulated. Why? Because sadly, bankers, or at least investment bankers, are not to be trusted.

And our politicians were so in thrall to these masters of the universe that they awarded them knighthoods and baronies and appointed them to all sorts of boards which regulated, amongst other things, mortgage lending. Talk about putting a fox in the henhouse.

Now, clearly there are other factors involved in the global recession, but here in the UK I think the villains of the piece are pretty obvious.

Exactly, the Fat Cats didn't 'force' people to take loans for houses, cars, holidays, etc, that people knew very well they could not afford.
But yes, their tactics were despicable 'Want a 100% mortgage, why not have 120% then you can change the kitchen, the bathroom and take the family on a holiday to the Seychelles too?' 'Thanks a lot, excellent idea- but we are on very low salary and won't be able to repay, oh well, never mind'

The Fat Cats were definitely to blame, that is for sure. But those who fell prey to them also have to take some responsibility - all schools now teach about debts, interests, repayments, etc- so people know what they get into when they buy on the never never. And don't talk to me about the *ankers who gambled our savings away!!!

But what I can never ever accept is this new mentality - the Fat Cats were wrong and greedy - so anything goes...best scupper the country.

Gosh POGS, something which is not the fault of DC & co

I wonder how the auditors of these banks got away with it? They used to pick our accounts to bits.

I fail to see though what this has to do with anyone receiving benefits. They are entirely separate things, neither having any bearing on the other.

I couldn't agree more. Let's get all the buggers from the last government, the defunct FSA down who let all this take place. After all the points raised didn't happen last week, they have gone on for years.

So many with grubby little hands.

I agree a lot of it is down to the fat cats. But then there were the wannabe fat cats, taking on loans and mortgages they would never be able to handle.

Greed is widespread.

Eloethan An excellent point made there.

Those greedy bankers were the beggars that got us into this economic mess. Dealing in bad mortgages totally irresponsible lending etc etc.

No doubt the sellers of these badly secured loans got their bonuses for getting more business and so on up to the fat cats at the top.

Then they had the nerve to complain that the government or the the FSA or whoever had "failed to regulate them."
I hear them saying....

"It wasn't my fault I accepted these bad loans to earn a fast buck you should have stopped me."
Whatever happened to responsible business.

It would be interesting to know how many politicians had business interests in these bad dealing practices.

Hear, Hear, *Absent. Arguing about who is and isn't receiving the benefits that they are entitled to is simply diverting everyone from the real financial problem of these plundering fat cats who are bringing the country to its knees

Three down, how many to go? A step in the right direction. I gather the knighthood could be removed, but not the peerage.
These and those like them are the real villains who have swindled billions.

So prolonged was our conversation about this over breakfast news this morning that tea, eggs and toast went cold. I think I have run out of things to say and run out of steam (for coming out of the ears). So angry at the irresponsibility and lack of accountability, so angry at the getting away with it, so angry about the government's flaccid attitude, so angry, so angry – so exasperated and frustrated.