Bear in mind that no specific reason is necessary. I think for a lot of people it was to express anger at the mass negligent management of the financial system.
g20 trouble
- Thread starter theNude
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Bear in mind that no specific reason is necessary. I think for a lot of people it was to express anger at the mass negligent management of the financial system.
Feeling something is wrong, disliking something, is an easy and natural emotion millions of people can feel. Proposing a positive change is incredibly hard - so hard that it seems approximately no one in the world has worked one out yet!
Suggesting that it's pointless to express displeasure at something unless you have a solution in your back pocket is crazy.
"The people" do not have to have all the answers to express displeasure!
Suggesting that it's pointless to express displeasure at something unless you have a solution in your back pocket is crazy.
"The people" do not have to have all the answers to express displeasure!
Most of those people don't have a clue how the financial system works.
I don't think anyone has a clue how the financial system works, including those paid seven figure incomes to understand how it works.
Care to explain how and why many of them have made, and continue to make vast sums of money from it then? Luck? Random guessing?
For all the hoo-ha about the downsides of Brown bringing the G20 to London, it is a massive publicity coup for him amongst the people that matter (other statesmen, business leaders, markets) than the great un-washed public.
I can't honestly see Cameron being able to have adopted the same role, I get the feeling he'd be treated as like a teenager at an adults dinner party or suchlike, despite only being a few years younger than Obama.
Whether that's successful spin or whatever, it's certainly the overall impression I've got from the coverage of the event.
I can't honestly see Cameron being able to have adopted the same role, I get the feeling he'd be treated as like a teenager at an adults dinner party or suchlike, despite only being a few years younger than Obama.
Whether that's successful spin or whatever, it's certainly the overall impression I've got from the coverage of the event.
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Or why he thinks that the best solution to this problem is for the government to intervene, seeing as they can't understand it either, and over the long term have done more harm than good.
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Protestors have continued to takeover an old building in Sun St. I walked out lunchtime to about a dozen or so armoured vehicles. I put my arms up \o/ - One policeman said that really isn't funny but he smiled anyway.
Looking out the window, there's so many police! They're doing a good job.
Looking out the window, there's so many police! They're doing a good job.
Well first of all in a growing market, which we've had over the last decade and more, it's actually more difficult to lose money than make it.
Secondly if vast sums are being made across the board then corporations like Fortis, RBS and AIG wouldn't be making the biggest corporate losses in their territories' history.
Granted some aspects of the financial system are simple and relatively easy to understand, and therefore don't result in the kind of catastrophic failures we've seen recently. However to suggest that the financial system of the last decade as a whole was well understood is frankly laughable.
Just watching Mr Brown on the stage.
I have got to be honest and even the biggest Tory Boys on this forum have got to hand it to him, with all thats been discussed and how he is answering the questions is absolutely fantastic.
I for one would thank Mr Brown for arranging and hosting this meeting, and as he says the $1.1tr dollars will be upped and create a return of $5.5tr within a year even if a quarter of that figure the meeting will have been worth it.
I always thought Tony Blair was really good at dealing with questions etc, but i have got to hand it to Mr Brown atm he'd upstage TB any time now!
I love the agreement that has been met regarding
- Tax Havens being abolished
- Banks must be transparent with their finances
- hedge funds too
- stimulating economy via trade
- creating millions of jobs
The UK has since this economic problem seen 200,000 people out of work and a further 400,000 expected within the next year allegedly.
I have got to be honest and even the biggest Tory Boys on this forum have got to hand it to him, with all thats been discussed and how he is answering the questions is absolutely fantastic.
I for one would thank Mr Brown for arranging and hosting this meeting, and as he says the $1.1tr dollars will be upped and create a return of $5.5tr within a year even if a quarter of that figure the meeting will have been worth it.
I always thought Tony Blair was really good at dealing with questions etc, but i have got to hand it to Mr Brown atm he'd upstage TB any time now!
I love the agreement that has been met regarding
- Tax Havens being abolished
- Banks must be transparent with their finances
- hedge funds too
- stimulating economy via trade
- creating millions of jobs
The UK has since this economic problem seen 200,000 people out of work and a further 400,000 expected within the next year allegedly.
Not true. You can lose huge sums of money under any market conditions if you don't know what you're doing. The equities market isn't the only market and people don't just buy stock and wait.
And the equities and forex desks at RBS and many other banks were nicely profitable. Strange how they did that in the middle of a recession?
I'm not quite sure what this means. Do you expect a single person to have an in-depth grasp of every nuance of every market? Across equities, bonds, forex, commodities and all their associated derivatives? I think you'll find that on the whole, you'll find parts of the global markets with people that understand them well, and people that understand them badly, with the former usually making money off the latter.
What do you think the current economy landscape would look like if governments hadn't intervened to save RBS, AIG et al?
I haven't heard any serious financial commentators say that the bail outs of these essential but failed companies weren't necessary.
You can, but it's statistically more difficult than making money. For example there have been studies that have shown that by picking shares to invest in at random you will make money as long as the general tendency of the market is rising over the period.
Shame they were working for a company that was bankrupt, they'd have got a nice bonus otherwise.
I expect senior managers, especially CEOs, to have a good level of understanding of every part of a company's operations. I'm not talking about the technical details of investments here, I'm talking about the implications for the business. For example I expect a CEO to understand that a home loan might become severely decrease in value, and that if one home loan decreases in value then there's a very good chance that all home loans will follow suit. I expect the CEO of a business that invests in home loans to prepare the business for this eventually with a sensible risk management plan.
Again, you're referring just to equities. Just for reference, the LSE's (one of the largest equity markets) record daily turnover is $34 bn. NASDAQ day before yesterday turned over $32bn. The *average* daily global forex volume was put at $3.2 trillion. What you can "statistically" do with stocks and shares has little impact in the grand scheme of things.
Sucks to be them I guess.
Not sure how this is relevant. You started off by saying that no-one understands the markets, now you're saying you expect the CEO to personally oversee the risk management of just one of his divisions?
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He's responsible for making sure that proper risk management procedures are in place across the whole company.
I live within the police cordon around the Excel at the Royal Docks. Protesters totalling about 200 making a racket as the delegates leave the exhibition centre. Other than that, it appears to be no more than an excuse for a day out in the sunshine.
Doran earns £42,000 as a trainee lawyer yet is a student and as such can take this day off to protest as he likes.