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Rugfish
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One: There can be no argument to impose a law which seeks to limit the liberty of an entire nation regardless of their expressed wishes. Two: The bill was a pathetic waste of time as no detention request could possibly get through all the stages it gave without being blocked, thus Labour's bill was itself a political ploy. Three: Even if the bill had passed and ( Two ) was able to apply such a law, the European Court would throw it out because it is in breach of the Fundamental Charter of Human Rights, as already stated by many MP's from all sides of the house and by the EU itself. If Labour think it's so good then maybe they should include their plan to place innocent people into jail for 42 days whilst they find evidence to prove guilt, into a manifesto and call a general election. However they won't do that because they don't do elections because they're all chicken !
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Richard, We are both right then. I wrote quite a sizeable sized email on the subject to DC last year as I felt he would be able to get the message out to warn people. Vis a vis the Libor problem and what it would entail for the industry and the country in terms of lack of mortgages. My imagination didn't stretch to other forms of credit and I didn't know that British banks were wrapped up in the sub-prime market either Except I knew HSBC laid off 800 of its U.S. staff last year so I should have known too. All I'm saying is that Brown actually took away the oversight of the BofE.....( my guess ) is that it 'could' have spotted it earlier and stemmed the problem as well as the size of losses had he not done that, but who's to say whether it would !? Also last year I think it could have been Paul Mason did a report or perhaps some other, and spoke with a top ex-city financier/banker, who said he had discussed the financial instruments with the BofE and they looked completely vague and unaware of what he was talking about because they didn't know what instruments were wrapped together. ( Out of touch ). It comes back to Brown but I hear what you're saying of the Basel agreement and you're right on that. I just think that agreement gave a false sense of security that everything would be alright and Brown ( because he knew know better ), would not know how banks operated. Thus he would also be clueless when he went into office and concentrated on taking the 'glory' and hiking taxes.....Hence, "I have eradicated boom and bust forever".........
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Richard Balfe | October 11, 2008 at 15:03 This is a further extract from the EU archival records which you can find here under "1950 - 1956 The Birth of Europe" :- http://www.ena.lu/ (Quote): Determined to find a way out of the deadlock by turning these divisive factors into the ingredients for unity, the French Foreign Minister Robert Schuman made a momentous announcement to the press on 9 May 1950. Inspired by the European plans of another Frenchman, Jean Monnet, General Commissioner of the National Planning Board, he proposed to put the two countries’ joint production of coal and steel within the framework of a strong, supranational structure to be called the High Authority. Designed mainly as a bulwark against a future re-militarisation of Germany and as an effective means of avoiding a steel surplus in western Europe, this sectoral economic integration plan created shared interests that automatically linked the two countries. In fact, it made another Franco-German war impossible. The Schuman Plan also had the advantage of ensuring that the Federal Republic of Germany (FRG) was firmly anchored in the free, western world. The plan, which was immediately welcomed enthusiastically by the German Chancellor Konrad Adenauer, led to the signing, on 18 April 1951, of the Paris Treaty establishing the European Coal and Steel Community (ECSC). Schuman’s announcement is surely a major milestone in the history of the unification of Europe. It could be seen as the ‘birth certificate’ of the community of Europe. In essence, the Schuman Plan sought to end centuries of Franco-German hostility and to meet the current need for more organisations at the European level. Just five years after the end of the Second World War, there were great hopes for peace and prosperity in Europe. The entire history is in the archives in flash and are easily read there on the above link.
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Richard, I'm sorry if I sound like a pain in the neck on this but it's as well to get these things straight. David Cameron may well have made a speech about the cause in March 2008 but the event actually happened in September 2007. I know because I was on the sharp end of Libor rates drying up and hiked lender arrangement fees coming from all lenders in order to attempt to make up their then little known loss. Libor lenders pulled out of the market completely then. Lender like GMAC, Kensington, SALT, and many more, all dried up and couldn't lend because the mortgage portfolio's couldn't be sold. Plus they were having to buy some back. Kensington for instance lost £10 million in 12 weeks and had to sell. Southern Pacific ( Lehman Bros ) were just starting to use Northern Rock as brokers with a new suite of offices in the pipe and 2500 new staff. They couldn't do all that and the market started on a downward spiral in September 2007. David Cameron was able to talk about this in March this year and the issue hadn't really become public knowledge then. High lender fees are still applied to a lot of mortgages and that's really the only way someone can get a half decent rate but the loan to value ratio is so reduced it is almost impossible to arrange a remortgage now because values have tumbled and new buyers need massive deposits. The thing is in a complete mess and the cause is down to selling on financial instruments which included mortgage products which were overrated. That once released capital to the markets and gave products for investment purposes, hence the banks leaked depositors funds away like seives for 11 years and were not watched or prevented because the Bank of England's remit was changed and the FSA were/are clueless. ( The FSA CEO resigned over it ) but Gordon Brown blamed the world.
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I think the Tufty Club also has a flag and an anthem similar to that of the European Union. Is it the same ?
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"Playing the EU "national anthem" indeed! I don`t think we should stand for it" True British humour ! I Love it ! Anymore EU "cracks" like that ??? lol
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I can. "lol" Hey, this Euro mumbo jumbo has got the better of me as it happens. I used to think it was all just ridiculous and now I think it's hilarious. Roll out the EFTA drum please before my humour disappears again. ( Sally - I'm glad you took it in fun, because Dave's my mate too ) - lol
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