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Author Topic: Britain's banks downgraded by Standard & Poor?s  (Read 571 times)

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Offline Barman

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Britain's banks downgraded by Standard & Poor?s
« on: January 30, 2010, 11:18:22 AM »
Quote from: The Daily Telegraph
Britain's banks are no longer regarded as among the most secure in the world as the Government has failed to introduce proper safeguards in the wake of the global credit crisis

One of the world?s biggest credit ratings agencies said that Britain?s ongoing ?weak economic environment? and Gordon Brown?s failure to properly reform the financial system had led to its unprecedented decision to ?downgrade? Britain?s banks.

The warning from Standard & Poor?s sparked an immediate slump in the stock market and the value of the pound last night.

Source

Not widely reported on the BBC!

How did it come to this eh...?  noooo:
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Offline Grumpmeister

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Re: Britain's banks downgraded by Standard & Poor?s
« Reply #1 on: January 30, 2010, 07:21:34 PM »
How did it come to this? Simple. We have a political system where key cabinet positions are given out not on the grounds of personal ability, qualification of experience but either how well you kissed the arse of the Prime Minister at the time or as a bribe in order not to contest the leadership until you are offered the No 10 post.

Did Gordo have any financial qualification, knowledge or experience before being handed the postition as a sop from Bliar? Did he bollocks. He sold off the gold when the prices were at rock bottom and then to pad out the economy deliberately told the FSA and other regulatory bodies to have a softly softly approach with the banking system in the UK. That allowed these greedy bastards to take ridiculous risks with out money until the entire house of cards fell down. And he did this because he had no idea what the knock on effects would be and was too ferkin stupid to see that he was leading the entire British economy to a massive fall.

Look at the rest of the cabinet, the last time Balls had anything to do with education his teacher was tearing their hair out trying to teach him how to do joined up writing. Ainsworth has never served in his entire life and the rest of that bunch of useless tossers is exactly the same. That lying scottish bastard promised a government of the talent when he first came to power and what did we get, yet another government of moronic sycophantic f*ckwits that I wouldnt trust to run a Burger King outlet.  cussing:
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