On 28 Feb 2013, at 07:24, Paul Cundell wrote: >> Found out of what ? Not expressing myself clearly ? > > If you say so, though I thought you were pretty clear > >>> LIBOR rate? > > >> It is a negotiated rate. It always was. > > You asked what they'd done wrong and I told you. You want to condone their > illegal actions. Your choice.
Im not condoning their actions. The process that was used to determine LIBOR and LIBID was itself floored. It as actually called a fixing and those involved took an opportunity, that was available to them due to the process by which the rate wear set and out of human nature to make money for themselves. The process was flawed, and manipulating the rate was illegal > >> So the downturn that the world suffered could have ben avoided. > > So it's not ALL Labours fault after all, it's a world wide downturn now it > suits your argument. It s not all labours fault. Their squandering money was a contributor. The general economic malaise another, whereby reduction in global trade affects the revenues that the government generates and its ability to repay its debt > >> Im sure you can pull the red will over the eyes on the doorstep , but under >> any real scrutiny it > > Or you can choose to believe the Express and Mail rather than facts and > figures. Your choice. As stated Im going to make a list for you of ways in which labour squandered money. Neither the mail nor the express will be primary sources, I read neither > >> The ratings agencies, international markets, the people, who lend us the >> money > > So they decide we can spend billions on trident and HST2 but not the NHS for > instance? Interesting concept. They contribute to the process which determines how much we may borrow and the rate we will pay > >> Debt must be repaid > > Another juvenile economics soundbite, governments have many more ways of > 'repaying' debt than a consumer. Debt and deficit were lower in 2010 than in > the majority of the last 250 years, there was no rush to pay it back. The > austerity led loss of jobs and the shrinking economy is exasperating the > situation. > Please don't do an analysis without any facts and figures, one based on > tabloid headlines would have no substance. Yes there are more ways to repay but it must still be repaid. As stated I will prepare the analysis for you. I just need a weekend as it will be lengthy > > _______________________________________________ Leedslist mailing list Info and options: http://mailman.greennet.org.uk/mailman/listinfo/leedslist To unsubscribe, email [email protected] MARCHING ON TOGETHER
