Bloody Nanny State

Nyden said:

if we all shed a single tear, and spared but one second in our day for every suffering in the world - we would not live one moment of our own lives, and we'd all die from dehydration!

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An all or nothing approach is not necessarily useful.

Timmy said:

An all or nothing approach is not necessarily useful.

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Who should we care about then? Who draws the line, and where is it drawn?

Is it the photo/telegenic people with "interesting" stories? The foreigners belonging to countries that share interests with our own?

There is no 'fair' way to do this, and unless we implement some sort of lottery for empathy, it just doesn't work outside of what each individual defines as their 'group'.

Nyden said:

Who should we care about then? Who draws the line, and where is it drawn?

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As an adult I am able to make up my own mind, I don't need someone else to tell me where to 'draw the line'. You seem to have misunderstood my point, which was that your argument that because we can't help everyone we should help no-one is not helpful, or useful.

The trigger for this call in regulation of margin loans that cost people their homes can probably be traced back to the loans Storm were using for their clients.

They used Colonial's CALIA facility. It is a home loan package that has a margin loan inside the facility. So the home along with the share market investments is used as security for the overall umbrella of credit.

Why things happened so fast to Storm investors? Colonial had security over their homes and investments in the one package. I believe also that the Storm branded index funds were administered by Colonial also. All owned by CBA.

Hence the speed and ease for the Storm situation to unravel.

It could be this product that the regulators may be going after specifically, but of course everyone else will be affected.

The title of this thread should also be applied to all the incompetent banker finance capitalists who are now being bailed out by Governments.

I think a new crime such as involuntary bank slaughter should be introduced to make sure that they have to do time if they invent worthless ridiculous intangible paper instruments and expect the average Joe Blow to pay for it through the taxation system when the greed of their own design fails.

This thread could easily apply to the bunch of crybaby bankers who lost touch with reality and now need a Bloody Nanny State to bail them out.

Here's a great link about the Bank Stress Tests in the US. The greatest handout/subsidy in the history of the world.

http://www.businessinsider.com/bank-stress-tests-are-a-complete-sham-says-former-regulator-2009-4

What a joke of a thread!