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Kaupthing Singer & Friedlander... About To Go Pop?


gilf_uk

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An interesting article from the WSJ by a Nobel prize winner and a colleague of his comparing and contrasting now to the tech bubble and the 1930s - it isn't a particularly positive read!

 

An interesting read. An antidote to those who don't believe that the whole crisis was sparked by the collapse of the US housing bubble, and of course the UK housing bubble then added to the problem - especially for the UK.

 

S

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An interesting read. An antidote to those who don't believe that the whole crisis was sparked by the collapse of the US housing bubble, and of course the UK housing bubble then added to the problem - especially for the UK.

 

 

Surely the crisis was sparked by whatever caused the US housing bubble, not the bubble itself? You referred to Germany earlier, saying they didn't have a housing bubble, that's largely because the Germans don't buy houses, something like 65% of them rent. What created the british and american obsession with property ownership in the first place?

 

Still, housing is just part of it, seems to be a converging set of events and circumstances that created this mess, not anything singular.

 

This looks like an interesting read, and the review provides a good summary of the crash according to Mr Cable:

http://entertainment.timesonline.co.uk/tol...icle6015374.ece

 

Good quote that made me think of you Sebrof: “All who claim to see the future are lying, even if by chance they are later proved right.”

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Good quote that made me think of you Sebrof: “All who claim to see the future are lying, even if by chance they are later proved right.”

 

Thank you for thinking of me, Slim. It makes me feel all warm inside.

 

It would seem that the only differences between us are that my predictions tend to come true, and that your "inexactitudes" aren't confined to your predictions.

 

Anyway, it's Holy Week, and a time for goodwill to all men. I trust you get to eat a nice big Easter egg.

 

S

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It would seem that the only differences between us are that my predictions tend to come true, and that your "inexactitudes" aren't confined to your predictions.

 

Yes, your retrospective predictions come true. How clever you are!

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It would seem that the only differences between us are that my predictions tend to come true, and that your "inexactitudes" aren't confined to your predictions.

 

Yes, your retrospective predictions come true. How clever you are!

 

Very cutting, Slimbo. I am quite upset. Now run along.

 

S

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  • 3 weeks later...
Treasury minister Allan Bell said the increase in money being recouped in the UK is a sign that KSF Isle of Man could recover about 75% of the money it is owed.

Does this mean that IOM taxpayers won't have to contribute?

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It really does say something about the security and supposed independence of the Isle of Man when Westminster can just rustle up an Act in a few hours, that will allow Gordon & Co. to remove £550million or so from one of our banks.

 

Apart from anything else, I am surprised that members of our Government don't feel very stupid over this whole affair.

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It really does say something about the security and supposed independence of the Isle of Man when Westminster can just rustle up an Act in a few hours, that will allow Gordon & Co. to remove £550million or so from one of our banks.

Except that's not really what happened.

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