Dating a Banker - Support Group in HK?

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  1. #61

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    That is like saying that someone who works for Philip Morris as tobacco buyer doesn't have to shoulder any of the responsibility of the effects of smoking.
    If a few more people had raised their hands a bit earlier from inside the industry then a lot of this could have been avoided.
    Unfortunately most IB's go round thinking their shit doesn't stink but it turns out it is more rancid than anyone else's.


  2. #62

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    The recession(s) had many causes. But the preceding credit crunch could have been made much milder if the investment banks hadn't securitised all that debt.

    Banks couldn't stop house prices falling, but they shouldn't have packaged bad debt up into opaque and incomprehensible units and then misrepresented their risk of default. Bankers were blinded by greed, plain and simple.

    Taking the riskiest items off-balance sheet was also a bad practice. Banks are guilty of some pretty risky lending decisions.

    Credit rating agencies, mortgage brokers and regulators are to blame, too. You also have to reserve some opprobrium for idiots who ran up huge debts and sought mortgages that they could never service.

    [Edit: Essential reading here.]

    Last edited by Sigga; 30-01-2009 at 03:32 PM.

  3. #63

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    Quote Originally Posted by Sigga:
    The recession(s) had many causes. But the preceding credit crunch could have been made much milder if the investment banks hadn't securitised all that debt.

    Banks couldn't stop house prices falling, but they shouldn't have packaged bad debt up into opaque and incomprehensible units and then misrepresented their risk of default. Bankers were blinded by greed, plain and simple.

    Taking the riskiest items off-balance sheet was also a bad practice. Banks are guilty of some pretty risky lending decisions.

    Credit rating agencies, mortgage brokers and regulators are to blame, too. You also have to reserve some opprobrium for idiots who ran up huge debts and sought mortgages that they could never service.

    [Edit: Essential reading here.]


    well, the fact is, before the blowup, everyone hyped the securitisation of debts as the best thing after peanut butter jam sandwich!

    american consumers were able to purchase their dream home and then spend more by pulling out from the equity of their home, because securitisation allows them to get a loan for the home.

    even greenspan was quoted as saying (paraphrased) :"financial innovation allows for far more risk taking and benefits people"... blar blar blar...

    the books of the banks were always open.
    everyone chooses not to look at it.

    rem the guy that came up and spoke against the credit bubble and got laughed at on CNBC where the general market refuses to take the proper negative opinions..


    the market demands the innovation, the bubble..
    just like the accumulators... now everyone is screaming that they are missold, but at the time they bought everyone was snatching up everything available in the market because the market was in a bull run.

    its a convenient action amidst the inconvenient truth
    Last edited by freeier; 30-01-2009 at 06:11 PM.

  4. #64

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    Talking about the truth anyone notice that Gore is not hot anymore? Despite the whole democratic push to create a global warming bubble?
    Posted via Mobile Device


  5. #65

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    Quote Originally Posted by freeier:
    now everyone is screaming that they are missold, but at the time they bought everyone was snatching up everything available in the market because the market was in a bull run.
    well not everyone.....in fact I guess about 1% of the world's population?

  6. #66

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    Quote Originally Posted by shri:
    Talking about the truth anyone notice that Gore is not hot anymore? Despite the whole democratic push to create a global warming bubble?
    Hmmm... So shri, you're the scientist who tells me that that was a 'bubble'? Nature doesn't change its course just because the media now diverted its attentions to ex-banker's girlfriends....
    Posted via Mobile Device

  7. #67

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    The more things change the more they stay the same.

    From February 16, 1992, almost 17 years ago to the day...

    http://picayune.uclick.com/comics/ch/1992/ch920216.gif


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